If you've been dreaming up an e-commerce site, blog or online business, this is the time to give it a shot--for $1. That's right, MyDomain, a domain registration company, is offering customers the chance to launch a website for $1 for 30 days. The site's "Build Your Dream Business" promotion, which kicked off today, allows customers to pick a domain name and use MyDomain's software to publish their website. After the 30-day trial, customers can continue to use MyDomain's annual domain registration and three months of hosting for $41.80.

As an entrepreneur, you've probably had that moment when you recognized a need for a product that hadn't been created yet. Jonathan Hall and his wife, Kate, had that moment a few years ago when they noticed something missing from the iPod's accessory aisle. They saw a plethora of fancy skins and cases, but nobody had bothered to tackle the simple, plain white earbuds so prominently displayed in music lovers' ears. So the Halls introduced flexible rubber charms called Emotibuds to the market, which retail for $12 for a set of three pairs. The rubber charms clip onto earbuds and feature a variety of faces incorporating an emoticon in a cartoon style. Check out this article in The New York Times to find out how the Halls transformed their vision into an actual product. Like most entrepreneurs, they faced challenges throughout the process.

The second-most-trafficked social networking site, Facebook, is hoping a new offer will help it overtake competitor MySpace.com, which holds the number-one spot. Facebook founder Mark Zuckerberg announced that the site is looking for software developers to create applications for the platform. The new incentives are part of a $10 million fund financed by two venture capital firms. Grants will range anywhere from $25,000 to $250,000, and those awards will be determined by representatives from the VC firms, Zuckerberg and another Facebook board member. Though the social site doesn't release financial results, its revenue is expected to reach $200 million this year.