Thanks for all the responses.
I also have to give a special thanks to you Dwane for linking me up to The Bootstrapper's Bible. I just read the entire thing and I highly recommend it to EVERYONE who is even THINKING about starting a business. Although most of the things it talks about should seem obvious it consistently points out mistakes that in retrospect lots of people make again and again. It's also written well - it isn't boring and it's easy to understand.
It opened my eyes to a few major hurtles that I am facing that I simply won't be able to overcome and could doom me to failure before I even begin. So I'm going to either have to rethink my plan or try something else that will allow me the funds to self-fund the idea. Since I am definitely a bootstrapper, I don't think I should pursue the idea yet. Sigh. Once I have more capital to invest and more experience then it is definitely a road I intend to travel down.
On the brightside it gives me time to learn more about the industry and for technology to mature enough where it can receive maximum benefit. That was one of its major flaws - it could not work at maximum capacity yet because technology simply hasn't caught up. There also seems to be a few things in development that should make it even more effective. So if nothing else it will definitely benefit from sitting on the shelf until I am certain that once I am ready - I can come out fighting.
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