I would say there are 2 things that are important for a newbie. First, don't fall for the hype. If it is too good to be true IT IS! Second, you have to spend money to make money. There is no such thing as a free lunch. Online business may be less of an investment than a brick and mortar business but it is not free.
Very few things in life are free, but building a business with no investment is impossible even online. I use eBay as my main income and to invest in my affiliate business. I agree with you 100% invest nothing make nothing :-)
Wise words indeed!