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I agree with this up to a point, at a low level hosting makes little difference.
However after validation, I generally run sites that perform up to WP Engine or similar.
It's not an either/or situation, it's smart to build as many channels as you can to bring sales through your door. Ideally you want to be on your own website, on amazon, on ebay, on etsy. The more audiences you can reach, the more sales you can make.
If you are wanting to connect to your community, start connecting. Reach out to leaders in your niche, build up your presence online through your own platforms, become something that people will recommend.
I doubt it will last forever, but I do think its going to have a way better life cycle than MySpace. Facebook's biggest danger is losing it's 'simplicity'.
I would definitely look at the finances and figure out exactly how much you make on average per hour. If you can afford to get someone in to do it, hire someone. If you can't afford to do this, then should you be doing it at all?
Relying on Google for business decisions is not a good idea. I think some comments in this thread have been overly harsh, but when you are building your business you don't want to base it on opinionated pieces. You need data, real data not some that has already been altered in to...
Crowd funding is a great source of income, most rely on you 'pre-selling' your product as a means of investment.
For this to be effective though, you need a GREAT sales pitch, and a product that really gets your target audience/s excited!