I think the most important thing is missing: Selling the product! The notion that you can't sell a product you haven't created yet is prevalent in tech circles

I think the most important thing is missing: Selling the product! The notion that you can't sell a product you haven't created yet is prevalent in tech circles, but it isn't true. I did a startup some years ago where we got around $10.000 worth of sales with nothing but handwaving, smooth talking and powerpoint. The product launched a few months later. Our investors loved it because it was a serious indication that we had a product that someone would buy, and that we were able to sell it. This isn't unusual, especially in B2C markets. Tech guys just often seem to miss it, probably because there are a lot of incompetent people out there calling themselves business people. A good business guy is as hard to find as a good hacker.