I picked 2)Knock down trees, make wood, make a small house
But I built a fort instead of a small house, so sometimes spiders would climb over the walls when the mobs siege me at night. Only advantage of this method is that it is cheaper. You don't have to build a roof, so you spend less time gathering the resources to do it. That time could be spent on making your first batch of tools, or even making a small farm so you won't starve after surviving your first day or so.