If you spend much time around libertarians, you'll inevitably run across the totally genius idea of creating a new, libertarian nation. This has been tried in various ways before, and it usually fails quietly or catastrophically. That said, there's still a lot of unrealized potential for new country projects.
Since first encountering this idea, I've had a few insights about why it usually doesn't work out.
Be realistic
Most new country projects are handicapped by their founders rosy visions of utopia. A perfect anarcho-capitalist Free Territory or minarchist republic isn't going to happen anytime soon, and getting hung up on this accomplishes nothing. Going for a basic liberal capitalist democracy with a good constitution and above-par citizenry is much more practical.
A country is not a business model
Perhaps because new country projects are often cultish in nature, they often appropriate some of the worst ideas of new religious movements. In particular, running the new [thing] as a business.
Neither a nation nor a religion is a business model. A religion is a means for gaining moral guidance; a nation, safety and stability. Nations and religions develop for pragmatic reasons, and are only subverted by others at a later date.
Now, in the case of our libertarian micronation, the pragmatic reason is to develop a state that's capable of defending laissez-faire. Once that system is established, becoming wealthy from it is your own responsibility. Otherwise, the erstwhile libertarian is just another statist moocher.
Political Parties > Constitutions
Practically all of the libertarian new country proposals put their emphasis on the constitutions of these new countries, trying to avoid thinking about political parties. While building the legal framework for maintaining freedom is essential, I think that setting up the philosophical and social institutions necessary for preserving liberalism is an equally important job. A good constitution will not constrain those bent on perverting it (consider our own).
Instead, I think the nation-architects should focus on planning one or more liberty-minded political parties. I say multiple, because a duo or trio of parties might maintain equilibrium better than a single movement. Have these planned and ready to roll out upon independence, and you might be able to sustain freedom for a few generations.
Obviously, none of these solve the basic problem of raising the necessary funds to convince a government to part with some of its territory, or to build some of your own.
