If you have your domains registered at Godaddy (a good choice), and you host your website at some other hosting service (my recommendation is InMotion Hosting - http://goo.gl/dt0mvi), then you will need to set the nameserver entries for your domain registered at Godaddy to the nameservers provided by your website hosting provider. This is easy to do but, as it has several steps, it can be confusing. The following should guide you step-by-step through the process.
Step 1: Login To Your Godaddy Account
Go to the Godaddy website and login to your account. You should be presented with this screen:
Click the green Manage button to the right on the Domains line (above) and go on to step 2. If you are not taken to the page with the chart shown above, refer to steps 1a and 1b in the following box:
Step 2: Find The Domain Name
Find the domain name for which you wish to set the nameservers. Click the down-arrow to the right of the name.
Choose Set Namesevers from the top of the drop-down menu.
Step 3: Entering The Nameservers
If your domain name is new, and/or has not been directed to an off-Godaddy web hosting service, you will need to select the radio button (dot) beside Custom.
On the Custom screen, if no nameservers have been added you will want to click the green Add Nameserver button. If there are already nameservers there, you will just replace them.
Enter the nameservers given to you into the two boxes presented (as shown) and click the OK button.
This will return you to the Nameserver Settings screen with the nameservers you entered in place. If you entered them in lowercase letters they will have changed to UPPERCASE. This is okay. Click the Save button and you are done.