Great question, and I'm figuring this out as I go along. I majored in German and was a consultant for 12 years. Though I learned some coding skills I know that I can never be the technical person, unless we had a much longer time to build the product. An option that doesn't work financially and given the pace of things on the web.

I think the fact that you took the time to learn how to code sets you a field apart from other potential co-founders.

The situation is kind of a mirror of the whole designers that refuse to learn how to code thing. If you look, even if they don't do it, the designers who at least learn how html and css work turn out work that is leaps and bounds better web design. Likewise, business type people who learn how the technology they're building their business on, run companies that are leaps and bounds more efficient and potentially leaps and bounds more profitable. (not to mention that much better to work with)

i'd say that being a business guy means being good at strategic planning and keeping the company/startup on task. You can outsource things like legal, and hire for marketing skills, but you need to be a good manager to co-found a technology startup and not be one of the technical co-founders.