Once you have found a domain you like that is also available, it is time to register that domain.

Even if the domain name is available now, it might be gone in an hour, so don't put it off.

I will go through the process of registering a domain at GoDaddy, as I did with extramoneyanswer.com.

Note that this is how it was when I did it, but they may change the process down the road. Also, I already have an account, so some of my information is already in their system.

Create an account at GoDaddy first.

After I did a search for the domain, GoDaddy indicated that it was available, so I clicked the green “Add” button to register it.

GoDaddy will then give you the option to register the same domain name with other domain extensions, like .net and .biz. Resist the temptation.

Just click the orange “Continue to Registration” button.

Then you'll get another option to register addition versions of the domain. Go ahead and click the orange “No Thanks” button.

The next page offers some other bells and whistles you don't need – just continue past that one, too.

Now you should see your shopping cart. Double-check that the only thing in there is the domain name you want to buy.

Then click the “Continue to Checkout” button.

The final step is to add your billing information, and then click the orange “Place Order Now” button.

Now you own your domain. Congratulations.

Next up, you will need to set up a hosting account, which is the place where your site will live.

So you have a topic for your site and some ideas on how to create content. Now it's time to register a domain.

I am going to show you how to do it with GoDaddy, which is the domain registrar I use.

There are many domain registrars out there, and the registration process will be similar, but a little different if you go with another one.

Anyhow, before you register a domain, you will have to find one that is available.

I'd encourage you to spend no more than 20 minutes deciding on the domain you will register.

Don't sit and write out 25 ideas for domains, because most, if not all of them, are already gone.

So, try going to GoDaddy or the domain registrar of your choice and start plugging in potential names for your site.

Two bits of advice on selecting the right name…

1. Get a .com name. Don't consider anything else. .com is the standard.
2. Don't use hyphens. Your name should be easy to remember.

So let's get to registering that domain.