For larger sites there are a number of ways to change syntax of a dynamic URL so that it appears to be static. e.g. http://www.discountdomainsuk.com/glossary.php?lang=english&gid=28 can be re-written as http://www.discountdomainsuk.com/glossary/english/28

Index pages If your index page is dynamical generated then it will be particularly difficult for search engines to index your site. If possible you should avoid dynamically generated index pages

Algorithms

The search engines and Google in particular are getting better at indexing dynamic pages.

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Conclusion,

Dynamic pages are very useful to deliver content particularly if you wish to use a content management system. The Search engines do have some difficulties with dynamic content, but there are ways to improve chances of dynamic pages being indexed.

How to do it?

The great thing about this day and age is that you can have a website in no time. You can do it yourself or have someone else do it. But you should start with "How" questions first:

How do I want my business represented? Professionally, honest, just like everyone elses, etc.

How will it be created? Will you learn what it takes to create it, will person you have creating it know what you want them to know, or will you just cross your fingers and hire neighbors 15 year old.

How will it be marketed? This depends on geographic profiling. Whether you want it marketed locally, within your country, or world wide.

How is market online for my product/service? Do research before site goes live, just remember internet is always changing and tomorrow may look better for your market.

The further you go, more questions arise. Answer them well and you will have a great sales tool!