Should your startup sell pain killers or vitamins?

If you combine all the classes, conversations, books, cases, meetings, lectures, school immersions, and online research I've done, here are the key takeaways I've accumulated thus far about characteristics of successful new businesses. It's not to say that one can't be successful if he or she doesn't incorporate these qualities, but the overarching advice is that if you're a first timer (without much experience) looking to kick things off, "You should shoot for the moon. Even if you fail, you'll at least land among the stars."

1) MARKET SIZE: The idea should be HUGE - we're talking $ billions or $ several hundred million in market size (not a couple of $ million).
2) MANAGEMENT TEAM: The team needs to be top notch - this includes having a CEO with experience and founders with different skill sets (engineers can be more valuable than MBAs).
3) SCALABILITY: The idea needs to able to scale quickly in revenues, but proportionally with costs.
4) SELL PAIN KILLERS, NOT VITAMINS: This means that customers pay (lots of $ and quickly) for pain killers that help them cure a problem. It is much more difficult to get them to pay for a vitamin to help them just do something better.
5) SHORT SALES CYCLE: Your product should be able to sell quickly to customers - unless one sale means hundreds of thousands of dollars.
6) SIMPLICITY: If you can't describe the idea to someone in less than 10 seconds or need a major shift in customer behavior, you're going to have a difficult time...
*NEW 7)ONLINE BUSINESSES SHOULD FOLLOW PAYMENT RULES OF OFFLINE BUSINESS: Not sure how else to say this, but it's much easier to charge users that are accustomed to paying for something offline and bringing them online, then to start charging them for something they never paid for before.

I will keep updating this list as time goes on, but I welcome any additions you may have.

Lastly, and this is absolutely true, IDEAS ARE SIMPLE - EXECUTION IS DIFFICULT! From my experience, this could not be more correct. Having worked on an idea for approximately one full year, the shear complexity of taking a simple concept and delivering it to a customer is enormous. However, the sweet is never as sweet without the sour!