How?

#1 Fusegen: You're putting the cart wayyyyy before the horse here. If it looks good, people will give it a chance, and if they like it, they'll tell their friends. It's worked before, and everyone has to have a first game.

That said, you should concentrate on the development side of things =)

#2 What is the Design Phase and what is the Building Phase? Would you like to elaborate on that sir?

#3 Those two phrases can be elaborated into entire books. I would suggest reading the MMO thread, which talks about what needs to be done. If it's unclear, then you'll need to look for and study those concepts before you move on.

#4 I don't know what the MMO Thread is. Is this the one?
http://www.garagegames.com/community/forums/viewthread/84535

#5 I have another question. Do you think its fair to have a Subscription fee and then charge for expansions? It might be fair to some hardcore players but not the mass-market players and moderate players right?

#6 #4) Yes.
#5) That's a matter of opinion... WoW and many others do it successfully. But again, you've got no game design done, and you're worrying about things that should not be worried about right now.

What you need to do is learn about the game design aspect of it, and then work on that (Step 1-4 of what I mention in that thread). MMOs take years to develop- even for big companies, so it's not an imminent worry for you. Concentrate on game design and the skills that help you make that happen, and then go from there. Download TGEA and do some tutorials before you worry about how much money your game will make. Trust me, it's the order in which things should be done :)

#7 Yes. I am doing step 1 already. I am researching. Reading a book called developing online games - An insider's guide. The information on it is really old though (it says how 90% of people in U.S use dialup... which is like 5-6 year old information).