I moved my blog from blogger to personal site last week, since then many have asked me about the process and costs involved. I never thought the process would be so simple and takes just 15 minutes for complete setup.
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Selecting a hosting site : This is the most important step. You have to select your specific needs (such as bandwidth, blog only, hosting pics). You can select GoDaddy as it is one of the best and good value for money offer. If you are looking for just blogging solution then I would suggest eWebGuru. (Thanks Harsha for this tip). Usually the plans would be costing around Rs. 800-1500 per year.
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Selecting Domain : Another important step, you might plan to get [yourname].com/net/in etc. You will be able to buy it from the place where you are buying space. One useful tip from Thej “don’t search for a domain name and wait for it, there are people who buy it and try to sell you at higher rates“. I have faced similar situation, I searched for veetrag.com and waited for a month but lost it. Finally I had to settle for veetrag.net (one more tip, search for discount coupons on Google and you will save some money on domain+hosting)
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cPanel : the panel for managing and monitoring is cPanel is most of the cases and I must say it is the best tool for management.
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Selecting a blogging service : simplest service, you might think its difficult but just go for WordPress. Try out other services, but I would say once you look at the options and flexibility it provides you will love wordpress. Setting it up is single click process as hosting sites have a script which sets up database and all other things that you need to do. You can setup other services like Drupal, PHPBB, MovableType, LiveJournal etc too, they all are single click setups.
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Tools : Use FireFTP for all your FTP operations, its a FireFox plugin.
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Themes and Extensions : Just search for themes and try to get a simple one and customize it yourself. That is the best thing to do. Firebug will help a lot in customizing themes. Just for help on themes this is my del.icio.us links page.
Thats all guys, now looking for more inputs and suggestions from you. Good luck!