Reap the Benefits

Graphic design is all about opinion. There is no wrong or right design, just good or bad. Unfortunately there is much more bad design out there than there is good.
This comes from a lack of understanding of what makes good graphic design. Anyone can whip up a 'logo' in Microsoft Word (well I can't but a gifted few can actually get Word to work as they desire) but without the knowledge of how to make that logo really work said logo can actually do more harm than good to a brand it is meant to be promoting.
A logo needs to contain a message. It can't just be a pretty picture or a meaningless word-mark. It needs to represent the company, product or service it is identifying and it needs to instil confidence in the person viewing it. If British Airways had a logo consisting of a cartoon dog with multi coloured lettering you would think twice about getting on an aeroplane operated by someone who hasn't got a clue about who they are. You'd ask yourself 'If they're unsure of who they are do they even know how to fly a plane?' It does harm to the brand as potential customers will look elsewhere.
This is obviously an exaggerated example but it explains quite clearly that creating a logo to successfully represent a brand is not a five minute job done in Microsoft Word or Powerpoint. Done properly it can take days to even hit upon a potentially successful idea. Then it needs further time to refine and apply.
I often spend days with just a pen and paper scribbling ideas for a symbol to represent something. This is the starting point for any self respecting designer.
A companies biggest asset is its brand (your company's perceived image). You simply cannot afford to skimp out when it comes to your company's image. Unfortunately a lot of start-up companies think they can get by with a logo quickly put together by their butchers' brothers nephew because "he's good at drawing" and they can slip him a twenty for his troubles and save themselves much needed start up capital. Little do they know this is the biggest mistake they will make and they have already made it before the business has even taken off.
If you focus on your identity and perfect it right from the beginning it will save yourself a lot of money in the long run. If you constantly change your identity as you didn't quite get it right to begin with, with your £20 logo from your butchers' brothers nephew, then you will struggle to attract new business because if you are unsure of yourself then so to will potential customers.
Think back to when Pepsi had a stable brand identity in the 1980s. They were pretty much neck and neck with Coca-Cola then decided to change their identity to appeal to 'a new generation'. That didn't quite work so they changed it again (and again) now they are lagging far behind Coca-Cola in the soft drinks market on brand image. You're in the pub with your mates. You're the designated driver, what do you ask for? A Coke. The usual response is "It's Pespi, is that ok?" Pepsi are still around but Coke has a much better brand image and exposure so you are more aware of them. Brand awareness is key. You need a professionally designed logo to promote your brand, get your message across and instil confidence in potential new customers. You cannot do this quickly or 'on the cheap'.
On top of all this comes knowing how to set up artwork so it can be applied in the best possible ways. A letterhead printed on your home printer is simply not worth thinking about. You need to consider weight, texture, finish and colour of paper just to start with. Then is it best to print full colour, spot colour or both? What about a special finish like a die-cut or embossed logo? Foil blocking? These are all options to help your business stand out from the rest but if you are not even aware of the options you are seriously limited yourself.
Hire a professional designer and reap the benefits!