Yes, I have done it several times (main business website, three Wordpress self-hosted blogs).
1. Think about what your audience wants from your site (e.g. information, education, entertainment) and write / design with that in mind
2. Test and tweak your pages, post to get feedback from others
3. Start small, put up your essential / relevant content and then build out from there
4. Expect to have to adapt your site - My main business website has been completely revamped four times
Hope this helps,