One great SEO tip would be the use of misspellings. If you are selling red widgets and you registered the domain redwidget.com, some of your competitors or domaineers might register redwiget.com or redwedget.com and other misspelled variations.

Since domain name prices are very low, it might also be a good idea for you to register popular misspellings of your own domain. Some people who mistype your domains won't reach you and worst would be it would reach your competitor's website.

The misspelled domain industry is quite huge. One example of a generic misspelled domain name that I maintain is bahamas cruies . com which is a misspelling for bahamas cruise.

One converted sale from the traffic you get from misspelled domains could practically pay off the domain registration fee. So think about it and evaluate if it is a strategy worth doing for your business.