After you have made the decision to create a web site, the next logical step is to select a domain name that will be catchy, easy to remember, and help bring your site visitors. This is perhaps the most important step in the entire process, and due to the recent "gold rush" for domain names, it can also be one of the most difficult. Over the past few years it may seem that nearly every "good" domain name has been registered, which is true to a point. This does not mean, however, that there are no good domain names left, you just have to be a bit more creative.
When you are coming up with your domain name it is extremely important to keep in mind the following information:
Shorter is Better
keep your domain name between 5-20 characters if possible, as this will allow your name to be easiy remembered, and will increase its recall value, bringing more visitors to your site and more money to you if and when you decide to sell it.
Common is Better
In order to ensure the highest value for your domain name, it is important to try to make your name as marketable as possible. Branding is extremely important in establishing your site on the web, and therefore you should try to come up with a name based on a common phrase. In addition, to increase value, your name should offer as much business potential as possible.
.com is Better
When you are registering your domain name, try to choose a name still available with the generic top level domain .com. Of all domain name tags, .com is by far the most marketable, and thus the most valuable.