In the last post, I told you that we would soon discuss selecting a domain name.  After deciding on a market to target, you’re probably wanting to purchase a domain name and get started.  But there are a few things to keep in mind when selecting a domain name.

1. Search engines place at least some importance on domain names.  The name is only one component of getting a high position in a search engine’s database for a specific set of keywords, but it’s a good place to start.  So, you’ll probably want to begin with a domain name that includes one of your target keywords.  For example, if you’re creating a site to provide help for packrats, you probably would want to include the word packrats in the domain name.  To help with this, use a free tool like MakeWords.com to create a catchy name using your selected keyword.  And to learn what terms people are using in the search engines to find sites related to your topic, you may use a free keyword tool like the software available at GoodKeywords.com.

2. Never use trademarked names in your domain name unless you own the trademark.  I once purchased a domain name to promote an ebook that taught readers how to effectively buy and sell using a well-known web service.  I made the mistake of including their name in the domain name.  After receiving an email from their attorneys, I quickly let that one go.  I was just getting started, so I had no idea it would be a big deal.  You might actually be able to get away with it for a while.  But if you’re in this to make money, it’s best to avoid the issue completely.  At worst, you could face high legal costs.  At best, you could invest lots of time and money on a site only to be issued a cease and desist order many months later.

3. Try to keep the length of your domain name as short as possible.  The site name LearnToPlayGuitarNow.com, is a great example of a domain name that is too long.  I typically don’t purchase names that long.  But the domain name CoolGameConsoles.com is also quite long, and I actually like that one.  If you find a name that’s a long but catchy enough to remember, you should be okay.  Just keep in mind that shorter domain names are preferable.

4. Try to avoid dashes in your domain name if you want it to be easily remembered.  If you have to purchase a name with dashes to get the name you want, chances are good that the market you want to target is too competitive to try to enter without some experience.  Using MakeKeywords.com or GoDaddy.com’s search tool, you should be able to find a good domain name that doesn’t include dashes.  How many domain names with dashes have you visited recently?   I must point out that search engines don’t seem to view dashes negatively.  So, if you’re willing to invest the time required to get your site ranked highly for keywords within your chosen market, including dashes in your domain name is less of an issue.  (But it usually does take time and a good knowledge of search engine optimization to get your site ranked highly.)

5. Don’t use an odd name thinking you will create your own brand unless you have a good knowledge of marketing and money to invest to promote your site.  If you’re just getting started, it’s much easier to get traffic to your site if you create a domain name using words that people might type into a search engine to locate your site’s subject matter.

So, do some keyword research to find what words are being used to find sites like the one you want to create.  Then do some research (using a tool like MakeWords.com) to find what domain names may be available that use one or more of those keywords.  Once you find a name that you like, you should register it quickly.  Good domain names usually don’t last long once they have been entered into a search tool.  There are individuals who monitor these names.  If you wait a day or two to think about purchasing your name, you may return to find it has already been registered.

Next time, we’ll go into keyword research in more detail.  I’ve managed to get several sites listed on the first page of Google, MSN, and Yahoo’s search results for some fairly popular keywords, so I’ll share a few pointers with you.

We’re in a recession?  Wow, you could’ve fooled me.  And I’ll bet there are thousands more out there that continue to profit day after day online.  There are dozens of reasons for this, but here are just a few important ones:

1. You have a global market.  If your local economy is lagging, you can sell to the whole world.

2. People will always buy items they need or want.  They will always find the money, so why not let them give it to you?

3. You can get started with a very small initial investment.

4. You can start part-time while keeping your day job.

5. You can work in the comfort of your own home.

As I said in my last post, I will publishing a series of videos to show you how to create a website that can make you hundreds – maybe thousands of dollars per month.  If you follow the steps I’ll be outlining, your success will only be limited by your imagination and determination to do the work.  It will require taking some action, but it won’t be overly difficult.  And with the step-by-step instructions I’ll provide, it won’t require any special technical skills.

While I’m preparing the first video and supporting documentation, there are a few things you can do to prepare.  The first is to look for a web hosting account.  When choosing an account, here are a few things to keep in mind:

1. You will probably want an account that will allow you to maintain multiple websites for one low price.  One site probably won’t produce the level of income you seek.  You’ll likely want to operate several sites.

2. Some of the scripts we’ll be looking at will require the Zend optimizer.  Don’t worry if you don’t know what I’m talking about.  You don’t have to.  Just make sure the web host you’re considering has this installed.  The majority of hosts provide this.

3. Make sure the host supports PHP and allows multiple MySQL database installations.  Most hosts support PHP – even those that use the Windows operating system.  But for the scripts I’ll be demonstrating, a Linux account will probably work best. 

4. Look for a web host that provides quick and easy installation of scripts like WordPress for blogs and Joomla for membership sites.  This will make your life much simpler in the long run, and most hosts that provide this are very affordable.  This is usually provided through the hosts CPanel (their web management interface.) 

It probably won’t matter where you host your sites if they meet the criteria listed. In case you’re wondering, I host many of my sites with HostMonster.  I’ve had accounts with them for over a year, and I’ve been extremely pleased with their service.  I’ve only had to contact their support a couple of times, and they were very helpful.  I run dozens of sites on their servers that earn me money day after day.  But the choice is ultimately yours to make.  Just be sure to get an account that will grow with your business.

Next, you’ll want to begin thinking about the market you want to target.  The best way to do this is to make a list of things you’re interested in.  Also create a list of anything you’re particularly good at doing.  These lists may or may not be the same.  Don’t rush out and buy a domain name just yet because there are a few rules to keep in mind.  We’ll get into that soon enough.  For now, just begin thinking about what you’d like your site to be about.  Have some fun with it, and stay tuned for our next step.

With all of the doom and gloom handed out by traditional media on a daily basis, it’s no wonder people are getting anxious about the economy.  Oil prices are soaring, retail prices are following suit, housing prices are eroding, the value of the dollar continues to slide, and on and on and on…  Okay, we get it.  Some bad decisions were made, and it’s causing a little pain at the moment.  We’re going to have to pay up for a while until we can turn this thing around.

But, on the other hand, entrepreneurship is becoming a more viable career choice.  I read somewhere that college graduates are choosing to go into business for themselves at an increasing rate.  It seems that stories about teens starting and growing a profitable online business are becoming the norm.  Of course, from their perspective, it’s all just fun and games.  When Mom’s paying your way, it’s easy to invest your time in a questionable endeavor that may never pay off.  But what if you’re Mom?  Would it be possible for you to make money online without risking everything in the process?

The answer is most definitely, “Yes.”  And in the next few days, I’ll be releasing a series of videos that go into detail to show you exactly how you could easily make enough extra money online each and every month to cover two car payments or the mortgage.  And if you’ll just keep applying these principles, who knows where you might end up? 

Try to avoid the doom and gloom stories.  They do nothing but sap your strength and prevent you from taking the action that will lead to positive results.  There’s a whole new game in the works.  The rules might be a little different, and the challenge might take us out of our comfort zones, but the excitement is unmatched.  It will take us back to where we need to be – back in the driver’s seat of our lives.

Stay tuned – much more to come…