Create and customize your blog. If you are using a free service, there should be a tutorial to guide you through the initial steps of setting up your blog, as well as a forum for people to ask questions. If you are hosting your own site, you will need someone with web design experience to customize your blog, or you can use software such as WordPress.org to use the same structures available at free services.
The time you invest to make any significant amount of money is the same amount of time it takes to build a course or other offerings. If you want to make good money with ads (in the thousands), then you need to get 100s of thousands or millions of pageviews a month. This takes time and in that time you could just as easily build up your mailing list, create an infoproduct and make thousands whenever you want.
Building a Framework – Abby Lawson is a successful blogger and has written an ebook about starting a successful blog. It's FULL of amazing information, and it's affordable. She's a friend of mine (and we're in a mastermind together!) and I can honestly say that she knows her stuff! In her ebook, she teaches technical advice, how to write engaging content, networking tips, social media strategies, monetization tips, and more.
Track current trends - What stuff is in the media right now? It's good to pick a topic with longevity (you don't want something that will fall out of fashion), but if you can piggy-back on a trend early on, you can quickly establish yourself as an expert on it before anyone else. Searching #journorequest on Twitter shows what kind of people/topics journalists are currently reporting on
If you aren’t part of an ad network then you are constantly searching for new companies to advertise on your site. This one was always a pain in the ass for me. I wanted to spend time making my site better, but if I ignored selling my ad space then I wouldn’t have money to continue to make my site better. You can join an ad network, but that means you are giving up a percentage of the revenue. Work hard to only get 50% of the money? Bleh.
Of course, offering products and services doesn’t have to be mutually exclusive from using ads. You can do both, but what I see happen is that when you start to make $5 from ads you try to figure out how you can make even more and that becomes your focus. The tactics you use to boost your ad revenues are often the ones that prevent you from building your list and promoting your own products.
This is the strategy that most bloggers start with when looking to monetize their blog. However, keep in mind you're not limited to selling banner ad spots (which is generally an ineffective strategy these days). Consider other areas you could rent out: space on your pop-up box, social media headers, the "P.S." on your email newsletters...think outside the box (quite literally).
I must say, its a great article and enjoyed a lot. There’s so much good information which can be followed and actioned. I was in similar situation before trying to make money online, but couldn’t quite make it. So started slowly and work on the content and SEO. After 4 months I made $2. After this, I was able to make around $50 a month from the same blog. And recently I sold that blog. It happened with me so guys you can make it happen as well. But, please remember if you are looking for big money quick then it is not for you.
If your niche doesn’t allow you to promote or build premium products (anything over around $100 per unit) then think about getting a solid mix of offerings and building it up over time. I remember Darren Rowse saying that initially Amazon Associates was a really small source of income but over the years it has really started to add up. Think eBooks, affiliates, consulting, books, etc. and you’re starting to build an income stream.