The domain name and URL you choose for your web site will play a big role. The domain is often the name that visitors associate with a site and has a bearing on search engine optimization. Although a billion or so domain names are registered, there are still a lot of choices. You can even choose from 1000+ top level domains. Even with this much choice, you should be careful when choosing a domain name. Here are some tips to follow:
Any serious business should try and get the .com domain for their business. Users still trust the .com domain more than other top level domain. In some cases, users are not even aware that other top level domains exist. When the .com is not available, pick one where there is a chance that you could bid or buy it in the future.
Try and incorporate keywords into the domain/business name. While this is only possible when you start a new business, there are situations where companies create a new product to use a different domain. Using this technique, you can have one name and domain for your company, and get the best domain name for your product.
Avoid current trends for domain names. One example of a trend is the WEB2.0 phase, where everyone was looking for domains without the last vowel. Those domains are no longer in demand and most of the sites registered during that period no longer exist. Pick a domain name that suits your site and your brand.