1. Keep Your Domains Separate From Your Hosting Company
If at all possible, keep your domain name and hosting seperate from each other. The main reason is this... if you register for hosting and the domain at the same time, your hosting company could actually show as the owner, or agent, of the domain! So you want to change hosting companies... if your host is the agent of the domain you own, this could be an unwanted hassle. To avoid a headache later down the line, keep them seperate.

Personally, we use eNomCentral and GoDaddy for our domains. They are cheap and reliable.

2. Do Diskspace and Bandwidth Matter?
Many people shop for hosting companies based on their diskspace (storage) and bandwidth (monthly transfer) limits, but the reality is that most of us will never use that much storage and bandwidth. Yes, you want to have room to grow, but focus more on server reliablity (uptime), tech support, etc

3. Test Support Before You Signup
Hopefully, you don't need support when you signup for hosting. But if you do run into some issues that you need help with, it's nice to know that someone is in your corner. A live person that is down the road, not halfway across the globe. Test the support one way or another... either online chat or telephone. Do NOT test sales support, as almost everyone picks up the ticket when they think they could make a sale! The true test of customer support comes when you need their help!

4. Research The Host
Check out blogs, forums and review sites - actual review sites like WebHostingReviewsPlus.com ;-) - to read up on customer reviews of the particular host you are looking at. Only honest, independent reviews will assist you in making your decision. Don't fall for the same old 'Top 10' list that everyone has a website on.

5. Learn How To Backup
Yes, most hosting companies offer backups of some kind - nightly, weekly or monthly. And, most do a good job at backing up your site should disaster strike. However, do you want to leave your next million dollar idea in the hands of another company? The answer is NO, you do not.

Most hosts even have a tutorial on how to backup your website. Invest in yourself and learn how to backup your sites files and database (if applicable).

6. Avoid Long Contracts
Thinking of signing up for 24 or 36 months of hosting to get that great, bargain basement deal? Think again, my friend. Unless you trust that company, don't form over years of hosting money upfront. Are you really saving that much? Sure, you might save 40%, but when your hosting only costs $9.95 a month, that's not much. Why tie up that money to save $4 a month?

7. You Get What You Pay For
Don't complain when you signup for a host on eBay for $15 for the year and they turn out to suck. Hosting is very cheap anyways, so spring for the extra couple of bucks and get a reputable company.