Dynamics ERP RapidStart Service not starting. Service on Local Computer started and then stopped

UPDATE 4/28/2015: The RapidStart Connector service on Lifecycle Services (LCS) is down. No ETA of when it will be back up. Check out the Lifecycle Services - Configuration Manager (BETA). It's in Beta as of this writing but may achieve what you want. 
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When configuring the Microsoft Dynamics ERP RapidStart Connector to use with Dynamics AX, you may encounter not being able to start the service.

It might be an easy fix and just a missing step in the configuration. The base demo machine needs the step below to work in the one I loaded. Figured I'd share my solution since I didn't see anything about it on the first page of searching for the Event Viewer error.

I later found this link which describes the process: https://technet.microsoft.com/en-us/library/dn193985.aspx  I didn't see this until after the problem was solved and this post was written since I was going based on the errors in an environment where the connector was already installed. But it is definitely a step in the process.

You may see the error in Figure 1 below which says: "The Microsoft Dynamics ERP RapidStart Connector service on Local Computer started and then stopped. Some services stop automatically if they are not in use by other services or programs" This is a common error which can mean a number of things so we need to look at the Event Viewer for more information.

Figure 1 - the Microsoft Dynamics ERP RapidStart Connector not starting

I went to the Event Viewer and found the error below (also picture in Figure 2)
Service cannot be started. System.ArgumentException: Only an absolute Uri can be used as a base address.
Parameter name: item
   at System.ServiceModel.UriSchemeKeyedCollection.ValidateBaseAddress(Uri uri, String argumentName)
   at System.ServiceModel.UriSchemeKeyedCollection.InsertItem(Int32 index, Uri item)
   at System.Collections.Generic.SynchronizedCollection`1.Add(T item)
   at System.ServiceModel.UriSchemeKeyedCollection..ctor(Uri[] addresses)
   at System.ServiceModel.ServiceHost..ctor(Type serviceType, Uri[] baseAddresses)
   at Microsoft.Dynamics.AX.AppConfig.ConnectorLoaderService.AppConfigConnectorServiceWorker.OnStart(String[] args)
   at System.ServiceProcess.ServiceBase.ServiceQueuedMainCallback(Object state)

Figure 2 - The error in the Event Viewer

Navigate to the 'Microsoft Dynamics ERP RapidStart Connector Settings' application. In my instance, I was missing the 'Dynamics AX Service Host' variable (Figure 3 below). There is also no 'Activation ID' which is required.

Figure 3 - The Microsoft Dynamics ERP RapidStart Connector Settings form

Enter the name of the server of the AOS that will be connecting to the RapidStart service, then click 'Activate' (Figure 4).

Figure 4 - Adding the Dynamics AX Service Host as AOS name and Activating

Once the process is completed activating, you'll get the Activation ID (Figure 5). The Connector Settings application will still say 'Service Stopped' until you click 'OK' on the info log that pops up.

Figure 5 - Activation successful and Activation ID attained

Then, when you click 'Ok', The Connector Settings screen will say 'Service Starting'. Then wait for the connector to say 'Service Started' (Figure 6). At that point, you're all set!

Figure 6 - The Dynamics ERP RapidStart Connector started successfully

At this point, click the 'Activation URL' that appears once the connector is completed. This will open Lifecycle services (LCS). From here, I encountered other issues but will blog about those in another post.