steps 1 to 5 sound ok, but if you want the site to work for www.whatwhyhow.co and whatwhyhow.co those are 2 different host names and you need to add the bindings for both of them and both the binding needs to have the public ip address
also make sure you choose a .NET 4 application pool for the new site
and you need a dns "a" record for each of those host names as well
You mentioned that you made a DNS C record, you mean a cname? what did you put for that and why?
note that the mojoportal files can be located anywhere on disk and do not need to be below the inetpub folder but the folder must have read permission for the user that is the identity on the application pool and the /Data and /App_Data folders should have full control by the same user.
it is best not to put the files below any other web site folder or below any other folder that has any web.config files in it as web.config files in parent folders can conflict