1. Site (the most important thing)
2. Billing software (theres lots to choose from but be carfull)
3. Helpdesk software (sometimes it's included in the billing software
4. Live chat support (do a search on google there's loads out there)
5. Domain name reseller account prev eNOM (awbs give you a free enom account)
6. Some good designed banners
7. The ability to think up new ideas and promotions
8. The ability to write a decent post on all the hosting forums
9. The ability to undercut any webhost that gets in your way (for new start ups this is difficult because you have to meet your expense's.
10. Financial backing (make a good business plan and take it to the banks)

Chris