Make sure you always retain control of your domain name. There are hundreds of businesses hosting their websites with a web host they’re not happy with. Poor service, surprise invoices, unreliable uptime and email issues are just some of the common issues customers are facing today. What most of them want to do is vote with their feet and walk out the door and find another web hosting provider. They don’t go through with it, however, because moving all their domains to another host is a complete admin headache. Choose wisely from the get-go so you don’t become one of these customers.
The longer your domain name is, the harder it is for people to remember it and the more chance you have of someone misspelling one of the words. Most good single word domain names are long gone, but you can still avoid long domain names by getting a little creative. If you have a single word you really like that is not available, try adding an adjective or verb in front of it and seeing if those variations are available. Think of your domain name as part of your brand, and make sure it matches how you want people to think of you.
Even if the term isn’t trademarked, don’t buy domains that are just a variation of another domain name. This means avoiding plurals if the singular is taken (mediatemple.net vs. mediatemples.net), hyphenating a phrase (media-temple.net), or adding “my” or some other preposition (mymediatemple.net). Alternately, you might consider buying these variations yourself and set them up so that if someone types one of the variations, they are redirected to your main site.