Hassan,

”What are some of the pitfalls that you can help me avoid? “
If you are developing a membership site don’t use Paypal. I could give more details if I knew more about your sites.

”How about traffic and content?”
Much of this will depend on your budget. I could write books about this - what has worked for me and what hasn’t. Ebay has been a phenomenal traffic source of traffic – you can google how to do this. I just saw a joint venture on this forum that goes into detail about this very subject called Ebay Crusher.
Everyone will say PPC/Google Adwords for immediate traffic (it works especially if you have an opt in page or sales page.) Perry Marshall and Jason Potosh do a great job explaining the ins and outs of this.

”Any tools for the very lazy?”
Absolutely – outsource your work. I don’t know what budget you have to work with but by outsourcing your work, you will make more money faster.
There is no tool that is a magic pill – to do well will take work – especially in the beginning. Reinvest your profits and grow.

The best piece of advice I could possibly tell you is give people value and over deliver on what you promise. I don’t just mean your customers but in any relationship you develop in the internet marketing world. It only makes sense – if people can trust and depend on you – they will want to work with you.

Jeff