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Complete novice wants to imagine, decide, create, develop, run, maintain a website. Not really sure where to get started.....

I'm a complete novice.  Don't have a website, a domain name, none of it.  Should I look to GoDaddy? Adobe CS5?  

Want to imagine, decide, create, develop, run and maintain a website that allows for internal tracking and extensive documentation, as well as external viewing and commenting/participation.  But I don't want this to literally consume my life.  I want maintenance to be reasonably quick.

I want to build a website that has as many bells and whistles as possible, but I don't write code, so this has to involve software and options that more or less do the code writing for me.  But I want it to track certain things, I want those who access the site to be able to participate but without internal knowledge, so to speak.  I want the site to be capable of large data streams, I want to be able to set it up from scratch, and it would be nice if I could involve the higher forms of web development, like flash for example (if possible; not critical), using only template type web development.  It should probably be using HTML 5, since that's the newest format... right?  

I shouldn't need to deal with money on this site, I don't think, so I would be free of that aspect.  No charges, etc.  It is more of a community service type of site, but requires internal communication that others cannot see, while also being a community-oriented site for public communication and response.  

See, I know very little, but I do have a pretty decent idea of what I want to author.  But I don't have the capacity or time to learn code to author this stuff from scratch.  What are my options?
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So you want to build a website?  Humm.  It does take time to build.  What do you want to do with this website?  Are you representing a product?
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Great comments, outstanding responses that I need to consider all together before posing my next questions.  I think I'm starting to grasp a little better what's involved, but that is taking me to a new place in my thinking of where to go next, and that part isn't entirely clear at this moment.  That's why I need to weigh everything said so far.  (For example, one question might be... how long does it take to become good at website development [on average], where would you learn it, and would it require that you are capable of writing code?)  That's what I mean, I have decisions to make, and have to determine answers to certain questions before I make those decisions or commitments.  I will try to respond this evening, thanks all.
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Sorry, have been working on responses to everyone's expertise, they are coming.... should be later today, maybe as late as evening, but I am trying to address all.  Such excellent responses... I am looking forward to this next round of discussion, thank you very much to each and every one of you, you have already made this a much clearer proposition for me.
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I thought I might get a couple of additional comments from original experts who were posting, as I had responded to each one in kind, so I was waiting on that, but it looks like question will close.  Plus, as usual, my time has been at a premium.  The discourse on this, the experts answers, have been superb.  I have research to do, but will try to come back tonight and award the points, close the question, and then pose any new questions that arise from the expert advice I've been given to that point.  Thanks to all involved.  
I do have an additional question:  what if I just wanted to basically post an excel spreadsheet on the web, with the ability to make it viewable and editable by a select group of people?  

Would something like that be "easy," in the general sense of the word?
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Wow, I'm really surprised by your answers, COBOL.... I mean, I thought Microsoft intentionally upgraded their 2007 and 2010 office systems declaring how they could integrate within one another, so that Word, Excel, and everything in between would integrate with everything.  Obviously, not with the internet?  That is so weird.

Sounds like anything BUT easy!
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I LOVE those last two comments, for varying reasons.  
First, COBOL, gotta love -- and agree with -- the spirit of your argument with financially-based but flawed softwares.  Now, I want to keep this question almost separate:  If I wanted to look at creating something web-based through the other open-source browsers, and didn't have anything to sell, and only had to create it for a finite community of, say, 100 people, everyone could use Google Chrome, for one example, as their browser to see and interact with that particular webpage, couldn't they?  And in that case, would the learning curve be as dramatic as what has been indicated with the other expert answers here?  I mean, would this be a potential option that would open doors much more quickly for me, if it didn't have to cater to as many people as possible on the internet?

Secondly, viralypatel, you may have answered my question in the most simplistic of forms for the basic aspect I was mentioning with the Excel spreadsheet.  And even that is in Google Docs, LOL.  You said "then mao the url," and to clarify you mean link it to my web/domain page via a simple hyperlink, right??  You make it sound so simple, and I was hoping to hear a little simple somewhere along the line here!!  There are many ways to do things, and simple is one of the good ways, and should always be under consideration as a legitimate or at least partial option.  Are there limitations or borders to having a spreadsheet (is it in Excel, or is this a google spreadsheet to which you refer?) on Google for the others in the group?  That is, is there anything that can't be done on the web that is normally in the spreadsheet program, whichever one it happens to be?
Any feedback on sites like websitebuilder, Weebly, snap pages, and Lifeyo would be appreciated.
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There are so many great comments and much great advice.  I really need to go back over it with a fine tooth comb to divy up the points, as well as revisit what I should do next.  I'll have more questions, will try to keep them shorter and sweeter, so that I can quickly reward and move on.  I'm learning.  I'll try to divy it up (wish I had 5000 points) so all deserving answers at least get something, but I'm rather tied up, will do my best this weekend.  Thanks so much to everyone!
Oops... when I said "I'll have more questions, will try to keep them shorter and sweeter, so that I can quickly reward and move on.  I'm learning," I meant that I will accept solutions from right here, and move on to asking new questions hereafter.  I'm not going to extend more questions off this single one, I'm learning that it's too hard to reward points after doing that!!!  Thanks again!
There is so much tremendous information within these answers that I have barely scratched the surface since they were provided.  I have loads of legitimate leads on where to look next for the tools to build on what I now know.  I've also been blessed by great honesty from experts who aren't going to mislead me into believing it is an easy process, because it's quite obvious that it's not.  Doable, yes, but there is much more to it than meets the eye. I appreciate all the great insights by numerous experts here.  I wish I could offer a thousand points for each one, as each was very valuable in their own right.  I really appreciate the valuable intel, thank you to all of you!