CG has some great insights, check out SCORE, I started to look into them as well.
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Ya, I know we are looking at 2 to 3 years easily and we have all agreed to do it for no pay until and if it starts to turn a profit down the road. The idea came from an industry we all worked together in. We are basically taking the same idea and changing it to fit a different industry.
One of the key things you'll find when researching, is a lot of new startups start and then fail exactly like you have quoted above. The root cause of this is, people with a 'skill' or great idea start a business without understanding that a business does not equal a good idea or skill, and that a good idea or skill does not equal success!
CG already told you some keys, so I'll requote, these are areas where new startups fail to spend enough time, or cut corners on, and can directly be attributed to there failure.
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You have to think about marketing, accounting, obtaining market share, taxes, insurance, client contact and a million other things. It is wise to create a business plan to see if your idea is even viable. Study other entities that are doing what you wish to do. Conduct market share studies.
M: 41 STBXW: 41 D: 9 Bomb: 4/26/09
On board the D train now..
"Suffering is when we try to change what we cannot."
