Citabria departing an uncontrolled single runway airport; 8U8; had a NMAC with a C172 arriving from the opposite direction.

Narrative

While waiting for take-off at Runway 34 at an uncontrolled airport (8U8); a C-172 reported either a left downwind or left base (I can't remember which) for Runway 16. There was another aircraft in the pattern behind the C-172; and possibly additional landing traffic (but I'm not sure); for this reason I wanted to make my take-off as soon as I thought there was a break in the traffic. I radioed the C-172 and asked for his position. He replied that he was either turning a left base or on a left base (again; I can't remember which) for 16. I then decided to begin my take-off on Runway 34; and announced 'Townsend traffic; Citabria XXX; departing Runway 34; left turn out; Townsend.' I thought that I would have enough time to take-off and clear the area before the C-172 turned final. As I lifted off the ground I realized that the C-172 was on a short final for Runway 16. As I began to commence an early left turn out to avoid the landing traffic; the C-172 commenced a go-around and side stepped to his right (my left). I then turned back to my right and remained over the runway as the C-172 passed me. I then departed the area; and the C-172 went around for another landing attempt. My failure to realize how close in the C-172 was resulted in the problem. In addition; since the airport only has one runway; which must be used in order to taxi to Runway 16; I opted for a departure on 34 because I figured that I would spend less time on the busy runway if I departed 34 rather than taxiing to the end of 34; turning around; and then departing on 16.