Using modern social media platforms and tools it is very easy to create an effective web presence without breaking the bank.
Do as many as possible of the following, and in this order:
- Create a Gmail account
- Create a WordPress Blog
- Create a Twitter profile
- Create a Facebook Business / Fan Page
- Create a Fanbridge profile
- Create a Soundcloud profile (for musicians)
- Create a Slide.com profile
- Register a domain name
- Create a YouTube profile
- Create a website with embedded feeds
- Blog often.
- Blog even more often
And remember not to agonize too much over the look and feel of your website and profiles.
It is more important to get them live and to start engaging with people.