Whether you already own the domain or are planning to get one, there are a lot of things you should consider and be aware of. Choosing a domain is not as easy as coming up with a cool-sounding name and whipping out your credit card to register it.

Before you register that domain, think about it carefully – you will probably live with this choice for the duration of this online venture. I find that choosing a domain is easiest when I compile a short list (six or eight) of probable names - don’t check for availability just yet. Now look over the list and number the names from one to the last in order of your preference for the domain.

Take this same list (without the numbers) and give copies to your spouse, friends, relatives – anyone who knows about your new idea and have them rank them as well. Take those lists and compare them. Likely, there are some trends between the lists.

Make a new list in the order of the trends you’ve noticed (first to last in ranking). Now go online and check for availability. If the first is taken, move on to the second. The first one to be available is most likely your best bet.

Now before you register it, you may consider getting an appraisal on the new domain first. A professional domain appraiser can give you clues about the usability of the domain – how well does it translate to spoken word, what is its most likely target industry, etc. These are all clues that can tell you the potential value of the domain for marketing purposes.

Some domain appraisers charge fairly hefty prices, while others are much cheaper. Find one you’re comfortable with – look at samples and see if the information presented would be useful to you.

Here at Aaronz WebWorkz, we do appraisals for $5 each: http://aww.aaronzwebworkz.com/services/index.shtml?appraise

Now that you’ve decided on your domain and have purchased it, you will have to start maintaining the domain. This is usually simple and straightforward. If you registered the domain for one year, you are guaranteed ownership of that domain for that year. If you registered for two years, three years, etc. you are guaranteed ownership for that time.

However, you’ll need to check up on the domain occasionally and make sure that you aren’t getting close to its expiration date. After all, if you miss renewing, it is possible for someone else to buy it and you could lose it forever or pay an inflated price to get it back from him or her. Many domain registrars will alert you when your domain is nearing expiration – which takes some of the headaches out of this process.

I usually recommend that, in the beginning, you register for only one year. If your business is beginning to take off or thrive within that year, then ad more time to the registration. No use spending the money when it could be used towards more important startup issues such as advertising!

While registering a domain name happens daily on the Internet, it is far from a mundane task. The right domain can be the difference between a marketable website and one that’s lost in the void.