The domain name tranfer is a 4 steps process:

1. Transfer intiation
2. Authorization of Transfer
3. Accept/Decline the transfer
4. Transfer Completion

The domain name transfer is generally initiated by the domain name owner or the technical person on behalf of the owner.

An email is then sent to the current domain owner at the address specified in the domain registration information. The message will pretty much  keep you in the loop and is also a security measure to ensure anyone else is not trying to take over your domain name by moving it to another registar.
This authorization email contains a transaction ID and a password you will have to retrieve in order for the transfer to proceed.

At that point you need to log into your current registar web site to acces the Registry records and unlock your domain name . You will be then given an authorization secret code to provide to your new registrar for the transfer to take place.

Within a couple of days, the transfer should be effective and done. After you receive a confirmation email, please log into your account at your new registrar web site, to make sure theDomain  Name Servers (DNS) are setup properly and still point to the server hosting your web site.

The necessity to transfer your domain name(s) from one registrar to another can stem from various reasons.

In my personal experience, my old registrar lost his accreditation with ICANN (Internet Corporation for Assigned Names and Numbers) for failing to comply with some of their strict security guidelines. Afterwards, all domain names regsitered with that company were transfered to another company which won a bid through ICANN to take over all the clients of the loosing registrar.

The registrars switch was done smoothly. However after all the frustration I had with my previous registar over the last week preceding that switch, I decide to find a domain registration company on my own by transferring all my domain names to the registrar of my choosing.

Once you have a clear picture about the services or products you are going to offer through your web site, you should then register a domain name for your e-business before someone else snatches it away from you.

For those of you who already started doing business offline, the right domain name is your current business’ name. If your business is named “XYX Widgets”, it makes more sense to get the domain name “xyz-widgets.com” or “xyzwidgets.com”. That helps you consolidate and preserve your business identity both offline and online. Besides your current customers might have already typed xyzwidgets.com or xyz-widgets.com in their web browser address bar to locate your web site.

For the rest of us who are just starting out and do not yet choose a name for our new venture, now is the time to do so.
In order to register a domain name, you need to make sure it is not already taken.

The best place to start is at Godaddy.com.
You can check your domain name availability for free. The best part is, Godaddy will actually give you suggestions for other domain names related to the domain name you are looking for. In my opinion, that Godaddy.com is the grand-daddy of domain name registation.

What should you consider when registering a domain name?
The whole purpose of a domain name is to identify your website and branding your e-business. So choosing a domain name is one more wise business decision you would have to make.
Here are a few pointers when choosing a domain name:

1. Domain named after your current business
2. Domain name related to your products and services
3. Domain name must be short (less than 64 characters)
4. Domain name easy to remember
5. Domain name easy to type in the web browser address box

Do you have to register your domain name and host your website with the same company?
Not necessarily!
I for one, do not like to “keep my eggs in the same basket” should anything unfortunate happens!
You can register your domain name with Godaddy.com then rent a web hosting space with BlueHost.com, Hostmonster.com, JustHost.com or any other web hosting company that matches your e-business needs.

The only advantage of having a domain name and web hosting on the same spot is not having to manually setup the Domain Name Servers (DNS) for your website. It is automatically done on your behalf once you register your domain name.