You have just launched a business plan and your financial gears are in motion. Now you need to setup an online presence. You go to the most popular domain registrar and purchase "yourcompanyname.com". Stop. That is the last thing you want to do.
Most new entrepreneurs purchase their domain name based on their company. It sounds right at first because you are branding your company that way. This might also be easier because your domain name is probably unique and is available. This means you will not have to revert to a.net or.org domain extension. However choosing a domain name after your company might be a bad idea.
First, you want people to remember your domain name with ease. It should be 2 syllables at most and easy to pronounce. The last thing you want to have on your domain is "thisismycompanyname.com". When you are networking or promoting your business, rarely will anyone remember that name. Look at the big names of business on the web: Google, Yahoo, MSN, AOL, Facebook, Twitter etc... Notice how concise and simple they are. The meaning might not be known right away but it is a lot easier to pronounce and promote.
Secondly, you want to have a domain name that can fit around your service. The primary benefit of this is for search engines. It is a good SEO technique to have your primary keywords in your domain name. This will help establish your services that you offer. The online downside is that it has the possibility of extending your domain name.
Once you have a list of about 10 - 20 names, ask your friends which they like. When you have 1, go to the registrar and have it registered.
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