If you don't care about usinga virtualenv skip this part and just install the django package and flatblocks from your distribution of pypi.
Let's create a virtualenv:
virtualenv --distribute --no-site-packages ve
Activate it:
source ve/bin/activate
Install requirements:
pip install -r requirements.txt
Let's synchronize the db:
python manage.py syncdb
And you are ready to go:
python manage.py runserver