No problem at all. If I were you, I would not care that much about the website - I would just name it somehow so it`s obvious what it`s about, but nothing to think about a lot, for sure.
While different strategies work for different people I don't agree with this one, especially for newbies. Ideally IMO you want an easy to remember, brandable .com keyword rich domain. It will help with search engine ranking, it will help with marketing and conversion rates too if it sounds good and has the keywords in it. (Good .coms are still easy to find if you think creatively.)
I also don't agree with just putting up a squeeze page. It's the content that is going to attract free search engine visitors. Otherwise you have to devote too much time and money to marketing to get traffic.
Additionally average online conversion rates are 2% and you are quoting 30 - 50% conversion rates. Don't think that is doable for a newbie.