The exceptions to this rule are:
- Exact match com/net/org domain names
- Building site for linking (instead of for traffic)
- Choose a good host -- Don't go cheap and don't try to do your own server management if you can avoid it. Time is money.
- Choose the right CMS -- I used to do everything in SHTML and that limited my ability to get other people working on my sites. We do 90% of sites in Wordpress now. We use more heavyweight CMS's like Joomla or Drupal for projects with steeper requirements. We use vBulletin and phpLD as appropriate.
- Keep yourself organized --- write everything down. Soon you will be engaged in so many different tasks that you won't be able to remember your own name. Document, document, document -- and keep your documentation structured.
- Subcontract to specialists -- Subcontract to people who can accomplish specialized tasks faster (and therefore cheaper) than you.
- Focus on quality -- Quality content will slowly and steadily become more valuable over time, as it earns natural inbound links. Low-quality content will devour your marketing budget on a continual basis.
- Test and measure -- One of the most common weaknesses of people in this field is that they believe what they are told. Don't fall for this trap. Test and measure everything possible. This is the only way you will be able to make wise decisions regarding future investments of your time and money.