Depends on your webmaster skills and time.
Blogs are simple ways of getting lots of content online with the minimum of effort, but you don't have complete design control.
If you've got the time, learn to use a decent WYSIWYG html editor, buy a non-keyword specific domain name (eg google, yahoo, not buy-widgets.net) and use one of the editors templates to get started.
Planning is critical - on paper first before you start coding. Draw a simple site-map with the type of content you're going to write to give you an idea of what the navigation structure will look like and to give you ideas for related content.
Get writing good, original content. Research your subject thoroughly. Look at competitors sites. What do they do well. What could they do better? Why should anyone link to, book mark, or recommend your content over any others?
Get a dozen or so pages up, enough for a bare-bones site, but with your good content.
Use blended ads to start with - we don't want to scare off potential linkers.
Build a resources directory in your site related to the content, which links to authoritative sites in your niche. Sort it logically and with the visitor in mind. Ask for some reciprocals from these sites, but don't get hung up about it.
Build in forms so your readers can interact with your content and ask you questions.
Use analytics or web logs to see how your visitors are finding you and what content is working, but again, don't get too hung up about it.
After a month or so, ask yourself if you're enjoying the subject. Yes? Carry on building. No? Explore different avenues.
Think of your website like a farm - with the yearly cycle that implies - and the huge amount of work - and you won't go wrong.
And of course, the classic thread:
[webmasterworld.com...]