I'm hesitant to answer questions like this for two reasons:
1. I am a professional Web Application Analyst, Designer, Developer
2. I provide services like what you are mentioning for entrepreneurs.
These two topics may make me look like biased. And of course I am biased. If I weren't then I wouldn't do this professionally.
My presentation for the meetup 2009 will be about what is needed in order to have a successful experience when having somebody else building a website for you.
So, my short answer to your original question is NO.
The most important point to remember is what lighthouse and others mentioned... you do need to speak the language. You don't have to be a developer. Your business is to make your company work, to define the services you provide, to take care of sales and marketing and shipping and accounting and many other parts that make up your company. You are the business owner. Act as one.
Do a search in google or any other engine for Requirements gathering. This is key.
If you can't explain in English what your site is supposed to do then there is no developer in the world that can build it for you.