In the age of Internet marketing, your website is the best piece of equipment you can have. It also needs to be customer-centric not company-centric. You first need to solve for the customer, then you get to talk about your company.
I recently found a great article in Forbes Magazine on this topic. I recommend reading it. I'm also adding a few points to Forbes' recommendations based on our experience as a web development business.
At first, it sounds like a great deal: You can shared host your website, you know – the one you just spent all that time and money on – for $5 per month. Everybody loves a great deal; that is, until the deal really is not a deal.
GoDaddy and a host (no pun intended) of other on-line vendors constantly advertise monthly rates ranging from about $5 – $10 per month to host your website. How can they afford to do this? Easy. These companies will put anywhere from 300-500 websites similar to yours on one server. A web server is just like your computer at home, only more robust and running different software. If you tried to run 500 routines on your home computer simultaneously, what would happen? It would slow down (a lot) or worse, it might crash.