Buying the right domain name is a tough decision. There is a lot of dependency on having the right domain name.
Let’s say you are starting a new business called Blue Diamond, a jewelry store. As a business owner I would love to use bluediamond.com as my domain. If that is not available I have to reconsider the business name or reconsider the domain name. If you are starting a new business you want to have this secure in order to move forward with the paperwork to setup shop immediately. You are on hold until then. Considering the name bluediamond.com it is most likely taken already. Most domains with common words are taken (by domain squatters). As a result we’ve seen a number of businesses that have gone a different route in making up a word for their business name. A name where there would be a good chance that domain name has not even been considered.
In choosing the domain name you want to make it easy to remember. If the spelling is too complicated or too long there is a good chance people will struggle in remembering it. Thus, not come and visit your website.
I used to use a really long domain, henchmenproductions.com. Let me tell you the pains in giving my email address. Is it man or men? Does it end with an ‘s’? etc. I realized when giving my domain or email, people just had a hard time spelling it on paper or remembering. This was a good lesson to learn. The shorter the better. The easier to say the easier to remember.
If you are set on a business name and your desired domain is not available, consider appending a word or string of characters. This has been common though I am not a fan of doing so. The reason I am not is I might be vain. Going back to the bluediamond.com example. If that is taken maybe use bluediamondstore.com or blue-diamond.com. I would avoid hyphens in the url but if you really, really want that domain it is acceptable.
I personally think a domain should be no more than 2 words, made up or not. Anything longer looks clunky, becomes harder to remember, and just not as pretty. But if you need to it is acceptable and you better secure the domain fast.
Your domain name is very important. Choosing the right one is harder these days. There are a lot of domain squatters out there. Buy the domain before they do or you’ll be stuck trying to come up with a new domain name that could impact your business name.