Ok, from a timing standpoint, I'd say that's fair. In my case, I've been hacking away, by myself, on the code for around a year now... and it's only now that I'm starting to get close to the point of wanting a "business guy."
That said, I think there could be a role for "business guy" even earlier in the process, depending on the details. If you're "scratching your own itch" and you know what you're going to build, then that's one thing. But if you're doing the "find a problem somebody has, and solve it" approach, then you could start the Customer Development process from day 0, and a guy/gal with experience in marketing / product management / etc. could be valuable then. Especially if he/she has some domain knowledge in the field you're working in.
I'm not so sure that a business guy will just learn some technical skills in the early days of a startup. So the tech guy can learn business, but the business guy can't learn tech.
I think it just depends on the individual. And when I say "business guy" I mean "business guy with some technical knowledge, particularly relevant domain knowledge." Which is one reason that finding the right person has been a challenge. I joke about finding a "used car salesman" and teaching them about software, but realistically, I'd like to find somebody who has experience selling enterprise software already.