Whether you want to come up with your own original name or wish to buy someone else's, here are some strategies for obtaining a profitable domain name.
1. Do It Now!
If you do think of or find a good domain name, don't procrastinate. Register or buy it now!
I've thought of a good name, checked it for availability, and then slept on it. When I went to register, the name was gone.
Years ago, one of my clients delayed in registering his company name and within a month someone else registered it.
The situation is even worse now. There is a lot of domain name speculation going on. Many simply register a name in the hope of selling it later to someone who desperately wants the domain.
It's really true in the domain name registration world: If you snooze, you lose.
2. Register Dot Com
There are practical reasons why you should consider registering a dot com if at all possible.
When you go to sell, dot coms generally seem to go for more money than other Top Level Domains. Why is that?
It has been suggested that dot org or dot net are perceived to be second-rate because the owner either couldn't afford to buy the dot com name or their competitor had the foresight to register it first. (Obviously, an ISP having a dot net or a non-profit organization having a dot org would not necessarily be perceived in this way.)
Additionally, dot coms are easier for people to remember. If you have a dot org or a dot net, it is just one more thing for people to have to remember. First, people have to remember your website's name; then, they have to remember that your TLD (Top Level Domain) is not the commonly assumed dot com. You could lose some traffic to your dot com competitor.
3. Is It Practical?
Do you have a business use for the domain name? Is your name short and memorable? Does it describe or brand your business? Does it infringe on any trademarks? Is it free of hyphens, numbers, and other extraneous or confusing elements?
Give some careful thought to the above factors before registering or buying your domain name. It could be one of the best investments you ever made.