It’s bound to come up. You’ve selected all the great ideas in the world for a new website, have everything down on paper or in Word. Yet the thing that you’re being hung up on is what to call it! The key here is how to pick good domain names without sounding ridiculous. There are endless schools of thought on this, so I won’t claim that my way is the only way by any stretch. However I believe there are some decent fundamentals that much be considered.
1) Product or website: If you’re developing a site around a product, chances are you may want some aspect of the product to be reflected in the domain name. Not a deal breaker by any means, there is some SEO advantage to having a site about tools when tools is in your domain name someplace. With services, this may not be as big of a deal as your relation to tools may instead be based on loosely based. Say contractor in the domain name, while working with tools for the service provided.
2) People vs search engines. Like above, there are no absolutes. However it is important that you realize early on whether you are trying to create the domain for people (Google, Yahoo, etc) or for SEO (product/service type in domain name).
Will this be a domain to be resold later on?
If you’re trying to get into domain speculation, then there are a whole new set of rules to consider.
1) Single word is best, no more than three words if possible. It’s not secret that providing less wording in a domain for resale will likely mean more money later on.
2) Utilizing the domain and get some activity happening with it. Selling a single word domain obviously means not having to deal with this. But being as most people are lucky to break out with a three to four word domain, better create a resource using it to show off how valuable it can be in the right hands. Sweeten the pot, basically.
3) Selling off complete websites is easier than mere domain names. Domain name speculation is considered a skilled business and not for the faint of heart. If you’re not skilled in this area, why not simply create domain names and build up websites around them with traffic already active on the site. Web stores, blogs, news websites are all successfully done in this fashion.