Printable, downloadable PDF version of this post here.
Usual Disclaimer: I am new to WordPress.org. As I figure things out, I am posting my notes here, mainly so I can find them again after I foget how to do what I just did. I do know TypePad pretty well, but hey, a well-rounded blogger should be versed in more than one platform.
Sorry, this is long post. I wanted to be sure to include plenty of screen shots.
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Lots of folks have hosting accounts on GoDaddy. However, I was disappointed to discover that GoDaddy does not offer One-Click WordPress installation with Fantastico.
But it turns out it is not that difficult to upload WordPress to GoDaddy and create a database manually.
Here are the prerequisites:
- A domain name and a web hosting account already set up at Go-Daddy
- Unzip utility such as WinZip or CAM Unzip
- FTP utility such as WS_FTP or CuteFTP
I'll handle the GoDaddy side first.
Log on to your GoDaddy Account. Click My account (That gives you a slightly different menu than offered on the first screen.)

Click the Hosting & Email Icon, then choose Web Hosting and Databases in the drop down menu.

GoDaddy will present a list of your hosted accounts. Click Open in the Control Panel column for the account to which you plan to add WordPress.

Click Databases. GoDaddy gives you two different places you can click Databases. It doesn't really matter which one you choose. The lower one gives you icons in the menu, the upper gives text.

I like icons, so I clicked the lower Databases menu. Opening open the Database menu, you will find MYSQL. Click MySQL icon.

Click create database.

Creating the database only involves naming it. Too bad I didn't realize this sooner. All this time, I was worried I would need to manually create all the needed database fields.
My tip: If you only plan to have one blog on this particular hosting account, use the website name and the word "blog" as the MYSQL Database/User Name. Also note the password requires both letters and numbers, and one of the letters must be capitalized. Jot both of these down somewhere safe. You will need them again soon.

GoDaddy will begin creating the database. The status pending setup screen appears.

Wait a few minutes, then click your browser's refresh button, and you should see status setup.

Return to the GoDaddy My Account-Hosting Accounts screen. You may find it's been open all this time in its own tab or window. Click on the account name (the right hand Hosting Account column). Click switch operating system.

You need to select a system with PHP. WordPress needs PHP to run.

Now one last IMPORTANT thing. After the changed are saved, click open in the left control panel column one more time.

Click Databases.

Click MYSQL.

Click the pencil (edit) icon. No you're not going to edit anything, but you will need to know the host's name to finish the WordPress installation, and this is the place to find it.

Drag your cursor over the the host name and click edit -> copy. Open a text editor or word processor and click edit -> paste. When need the host name a little later, it's a pain to have to log back into GoDaddy and look it up. This way you can grab it again quickly when you need it.

Now on to the WordPress.org side.
If you haven't already, download and unzip the current version of WordPress. You can download here http://wordpress.org/download/

Start up your FTP utility, connect to your GoDaddy host account. Upload the entire unzipped Wordpress file. It took me approximately 15 minutes to upload the whole thing on my DSL connection at home.

I renamed the wordpress folder, changing it's name from wordpress to blog. That way the URL for this particular blog will be www.mysite.com/blog

Now for the good stuff. Go to http://www.mysite.com/blog/wp-admin/install.php
This error message is exactly what you want to see. Click the link to create a wp-config.php file through a web interface.

Make sure you have the host name you copied and pasted plus. MYSQL Database/User Name and password you jotted down earlier, and click let's go.
Fill in the form with the information you jotted down earlier. In the Database Host box, paste in the host name that you copied from GoDaddy. (See that comment about a 99% chance you don't have to change that info? Well, GoDaddy users constitute the 1% that needs to complete the info.) The user name is the database name you created earlier in GoDaddy, not your primary GoDaddy login name. Click Submit.

All right. Making progress. Click run the install.

Type in your email address and a name for the blog. Click Install WordPress.

When the install is finsihed, and yes, this part only takes a minute, WordPress will give you a login (Probably "admin") and a password. Please note these are different from the databe login and password you set up at GoDaddy. It's also a good idea to print the page, in case the email generated by WordPress with the login information goes astray.
Also note, in the future you can login in with http://www.mywebsite.com/blog/wp-admin If you installed WordPress in the root folder rather than a sub-directory that login would be http://www.mywebsite.com/wp-admin

WordPress Experts: Please feel free to make comments or suggestions.
Very detailed and informative post. Good luck with new blog.