Id ont fully agree with the following:

Step one: Plan and get a good script from a free resource website

Step two:, think of an idea and purchase a domain name, make sure your domain name is unique and effective.

Step three: Buy cheap hosting from a good website such as http://brius.com

Step four: Make your own design, then code your own design

Step five: Make a sale for text-links worth 1$ and you will get loads of small cash.

Step six: Sell your website on a site where people can auction


First, i'd think of an idea & domain name to use. Then, if necessary, go look for an existing script (free if possible, paid if necesarry and if you are willing to take a risk). Then design it, code it, skin script etcc.. Register the domain name that you thought of + the hosting.