I stumbled upon the following post at The Hawthorne Works blog. I especially like his take on 'mistakes.' He has some sound advice overall. I would just add one thing to it. Choose a project that is just beyond your level of expertise. Then you can stretch yourself and learn new things. Trying an expert project when you are still a novice is a sure fire recipe for disappointment and frustration. But trying an intermediate project, just beyond novice, can lead to immense satisfaction when it is completed even if you have made some mistakes along the way. Another piece of advice I would add is: don't go whole hog in buying supplies and equipment especially if you are new to the craft. Don't think that you have to have the latest, most advanced, or most expensive equipment or materials to create something beautiful. Moderation in all things has been a corner stone in most ethical and religious systems. It is good advice in all areas of life.
I have a number of google searches set up to look for various needlework and craft blogs. Although some are beyond anything I want to get heavily into or have the room to pursue, I always find something interesting or inspiring. This little piece at Joy In Tatting is really pretty. I am just starting (re-starting, actually) to teach myself to tat so I am no where near ready to do this pattern. But someday.... .
Hooked on Crochet has pictures of a 'cross over' project that reminds me of a couple of mine. Her blanket is finished more neatly than I finished mine. The other isn't finished because I have yet to figure out where it is going. I will have to take them out and get some pictures. This shows why I check out blogs from crafts people whose crafts I won't ever do in a big way. The pieces and techniques can sometimes give you ideas. And, even when they don't turn out exactly as you thought they would, the results are always interesting and instructive.