One thing you'll hear bloggers say is to start your own blog as opposed to spending time reading others. I'd agree with this but one thing I would say is to keep reading. If your reading other blogs your always learning from others. My blog is only 32 days old now but I'm been actively reading other blogs every day before and since I started.

photo credit: betta design
To date, I'll admit I don't actively comment on other blogs but I will do when I'm happy with the look of my blog (well happier anyway). I'll be pushing on in the next week or two to get version 0.01 of my theme design pushed on to this blog so that I can brand myself domain name a bit better. But after this I'll start actively commenting on other blogs (not a lot) but I'll make an effort to give people feedback on their work as I appreciate the effort they put in to their blog. I'm learning from these people every day and they are helping me generate ideas so I don't want to sit back and take all this for free. Everyone wants interaction, everyone wants traffic and if you regularly read someone's blog it's only fair to provide them with this. Not only is it fair, it's smart, you'll generate 'some' traffic back to your own site and you're continuous learning from what others are doing.
I've also opened up talks about a few potential partnerships that I may get involved in as a result of reading other blogs and inquiring about projects that the site owners are involved in. I'll not say what they are until (if ever) they go ahead but if I wasn't reading and looking about for new ideas then these possibilities don't open up.
So that's my thoughts for today, get your blog off the ground, get some content in there, but don't give up looking around you to see what's going on. If everyone else did this you'd have no traffic or no feedback either. Now it's time to practice what I preach and get this blog out there in the next month!