When starting a new website or any business, I think the most important part is being passionate about the product or service you are trying to sell or the prob

When starting a new website or any business, I think the most important part is being passionate about the product or service you are trying to sell or the problem you are trying to solve. Usually, being passionate about something, means it is closely related to your own needs. Approaches to building the actual website vary greatly. Some people prefer writing detailed specs first, while others prefer a prototyping approach -- to start working with a tangible product sooner and get feedback early. I prefer the prototyping approach for new websites. When you start the actual development, focus on the core elements first (e.g. Digg couldn't function without it's core news algorithms and digg tracking, but did not need other peripheral features to move forward). I also like to work out my database design and user interface (screen mockups) early in the process. 37Signals recommends rough sketches and HTML mockups at the outset in their "Getting Real" book. After a few projects, you will likely have your own optimal approach that works well for you.