Select a less competitive industry
Choose an industry that presents less competition. Competition is not bad but it can overshadow your efforts and positive points if there are hundreds of other players competing in the same market. So, try to choose an industry that is not saturated. In an industry fraught with intense competition, you have to do more than your rivals are doing.
“Doing more than your rivals are doing” means that you have to be prepared to go to great lengths to stay ahead of the pack. You will be expected to ramp up marketing campaign, build a website that is best in every aspect, and create products/services that are unmatched and offer more than your competitors do.
Choose an industry that attracts massive traffic
Thanks to search engines, anyone can attract a people to their website. So, for an entrepreneur who wants to make money, choosing an industry that attracts users is the key to success. You can make a list of industries and read their traffic stats.
For instance, technology websites generally attract a huge number of visitors, meaning that your chances of success in this in field are much better than an industry that attracts less people. Big traffic means that any business related to technology is in a strong position to make money—if things go in the right direction.
Choose an industry that involves simple process of product creation
No matter what business you start on the Internet, you have to sell something. It could be product or a service. So be sure to choose an industry that entails easy product creation process.
For instance, if you are a good writer and can write several pages in a day, you can turn this ability into a full-fledge business. With your writing business, you will find it easy to create the product (an article, essay, technical writing, etc.) and ship it to the customer.