Internet businesses are easy to setup but they are hard to manage because of the high competition. When you setup an online business, you do not compete locally instead you compete internationally. This brings a lot of opportunities as well as some great threats too.

No matter what type of online business you choose, you will have to face competition – severe competition. Here is a list of online businesses with least competition that you can start off with.

Online Businesses: Creating A Niche Website

Success probability: 80%

Initial cost: Under $500 (excluding marketing and promotion)

Expertise needed: Moderate

Earning potential: Average

You can create your own niche website which is cheap. You don’t have to be a developer or programmer or website designer to create your own website.

We are here talking about a niche website and not any conventional website.

To create a niche site, you need to choose a niche first which is the hard part. It isn’t easy to choose the right niche that is least competitive and is likely to grow, and you can make money from it.

Suggested tools you need to use for finding the right niche are:

Google Trends and any reliable keyword research tool like Google AdWords keyword tool.

Try to choose a niche that is an ignored one. The niche must have least competition. You can sell products on your site related to your niche. You don’t have to be a manufacturer to sell stuff instead you can look for products on Amazon.

You can monetize your site.

You can choose to sell affiliate products.

And there are so many other options to make money from a niche website. All you need is the right niche and enough traffic.

Online Businesses: Buy & Sell Domains

Success probability: 65%

Initial cost: Under $100

Expertise needed: Slightly above than moderate

Earning potential: Very high

I love to buy and sell domains. It isn’t however easy.

There are 2 great things about this business:

  1. The earning potential is really high. You can sell domains in millions that you purchase in a few hundred dollars.
  2. There is potentially no competition because if you have a top domain that is highly in demand, you own it. End of the story. Nobody else on this planet can have the same domain.

Just to tell you that a domain was sold for $35 millions in 2007. This is just one example.

Finding the right domains (expired and new) that can be sold is not easy. You have to be very smart at it.

Once you will start it, you will learn more about it gradually.

Online Businesses: Bitcoin Trading

Success probability: 90%

Initial cost: Under $100 to $500 (pretty variable)

Expertise needed: Slightly above than moderate

Earning potential: High

Bitcoin trading is still unknown to many and this is the reason that it is a great money making and business opportunity until people start trading bitcoins madly.

Bitcoin is a digital currency. You can start trading bitcoins pretty easily. All you need is a bitcoin wallet and a mining network. And you are setup. It is similar to forex trading but here instead of currencies you trade bitcoins. Bitcoins are convertible to currency of course.

Even if you don’t know how to trade, you can still make money from bitcoins by using bitcoin trading robots.

Remember, you have to learn about bitcoins and bitcoin trading before you jump in.

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