Another piece of advice i would give anyone is that when registering a domain name, always try to register both the .com and .net for that domain. As ncadtiya pointed out, if in future your site becomes popular, it could hurt your business by misleading people to your competitor site who owns .com version of your domain.
Some people also register derivatives names of a their original domain name. For example, my php site domain name is php-learn-it dot com and i also register phplearnit dot com.
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