System.ServiceProcess.TimeoutException: Time out has expired and the operation has not been completed

Scenario:

While installing SharePoint 2010 Beta 2 Configuration Wizard on Standalone box, I got the following error on Step 5.

System.ServiceProcess.TimeoutException: Time out has expired and the operation has not been completed



Reason:
In Step 5 basically installer is trying to start various services including search service and failed to start the SharePoint Search Server 14 or SharePoint Foundation Search v4.

Solution:
Manually start these services will fix the issue. If they are not getting started manually also then you might need to change the Identity to run the service to Local System.