(note: I removed the "php" tag, which didn't really jibe with "language-agnostic", IMHO)
One recurring theme I notice with respect to the more successful web development is "deploy early, deploy often". The cost of frequent deployments is much lower than with distribution of more traditional executables and install files and the like (although there are arguments for frequent delivery there, too).
When you only have to deploy to your web server, the cost of doing so becomes very small, particularly if you spend a little time identifying opportunities for increased automation in the deployment process as you go along.
Frequent deployment pretty much mandates iterative development, which probably means you should, as mentioned in other responses here, be looking at agile practices. Principles I'd be keen to adopt would include DoTheSimplestThingThatCouldPossiblyWork, more usually abbreviated to the snappier DTSTTCPW, and throw in a fistful of YAGNI to prevent over-design in the early stages.
With those in mind, I'd want to pick a feature and develop enough to get a complete (but simple) working web application into an environment where an audience of real users (at least one, more if you think you need them) can start to provide feedback. Then incorporate the lessons learned from the feedback as you progress.