I've been saying it for many years now. Building a domain is no longer a technological problem....these have largely been solved through applications such as Joomla, Wordpress, Drupal etc. You'd be surprised at the number of plugins that are available for these content management platforms that solve all sorts of problems.
The biggest challenge with developing a website is creating content. This is one of the reasons why I choose to develop sites around topics that I'm interested in. Just recently I've relaunched downwind.com (aviation industry), build fftribes.com (gaming websites for the game FireFall) and now rebuilt and structured whizzbangsblog.com.
Other than the underlying technology there are a number of things in common with each of these sites:
1. I have a long-term vision for each of them.....it's not a short-term plan.
2. They have a LOT of content.
3. Members are empowered to add their own content and contribute to the communities.
Because I'm not in a mad rush for instant success I find that I can give Google what it needs over an extended period of time.....lots and lots of consistent new content. For example for my gaming site I've written a book and I've now just started writing my second science fiction novel. I'm enjoying the experience and the members are really valuing the new content. This then brings in new members and so my traffic continues to rise.
The secret is to fine something that you're really interested in and start building that. Don't worry about the domain that you have no interested in but may be great.....sell that one off for a whole lot of money. Write the content and build the site for the topic that you LOVE!
For me, I love domains, I'm a private pilot and I've been into games and science fiction since I was a kid. So go and do it.....take something that you love a turn it into a business.....the challenge will then be if you're offered a lot of money to part with it. :-)