With any application, you're going to spend some time designing the components. You should know, roughly or in full detail, your name spaces, projects, external references, 3rd party libraries etc.
If you're on a team, I would suggest your lead, or whoever is chosen, to create the base project, get the dependencies set, and check that skeleton (foundation which your project will be built on) in.
You also want to ensure you have your task, release, trunk, etc. branches spec'd out before checking in so your process is solid.
If you are working on a new "task" for a project that's already under way and you're in your own task branch, do your nightly check-ins so you preserve your work.