Once you have settled your domain name and web host, the next step is to design the web site itself. In this article, I will assume that you will be doing this yourself. If you are hiring a web designer to do it for you, you can probably skip this step, since that person will handle it on your behalf.
Although there are many considerations in web design, as a beginner, your first step is to actually get something out onto the web. The fine-tuning can come after you've figured out how to publish a basic web page. One way is to use a WYSIWYG ("What You See Is What You Get") web editor to do it. Such editors allow you to design your site visually, without having to deal with the technical details. They work just like a normal wordprocessor.
Your Domain Name Should Be Your Website Name
Naming your site after your domain may seem obvious to some of you, but you'll be surprised to learn that not every website is named after the domain name even when the webmaster owns that domain name.
Naming a site after its domain name is important, for the simple reason that when people think of your website, they'll think of it by name. If your name is also your URL (ie, web address), they'll automatically know where to go. For example, when people think of thesitewizard.com, they don't have to wonder what web address to type into their browser to get there. The name of the site is also the URL.
Imagine if your business (or website) is called "Acme", but somebody else holds that domain name. Instead, you have some obscure domain name called, say, "mybusiness.com". What happens when your customers, recalling that Acme has a product they want, type "www.acme.com"? They'll end up at your competitor's website. One lost sale.