First create a blog on your interest, your expertise. Post quality posts on your blog and attract lot of audience to your blog. Refresh your blog daily. You can then apply to websites that pay to advertise on your blog. You will earn revenue when someone clicks on your advertisements. Remember-it is not an easy task, but if you show commitment and perseverance, and follow these steps, you will certainly be able earn from your blog
 
Get started with a Blog:  Open a free Blog account with websites like:  

http://www.blog.com
http://www.wordpress.com
http://www.blogger.com

How to increase traffic to your Blog?

1. Submit the URL of your Blog to these search engines:

http://www.google.com/addurl/

http://siteexplorer.search.yahoo.com/submit/

http://search.live.com/docs/submit.aspx

http://www.addurlfree.com/

http://www.freeaddurl.org/cgi-bin/add.cgi

2. Join these sites for free and submit your Blog:

http://www.blog-connection.com

 Other sites that you should also visit and submit your Blog are:

http://www.fuelmyblog.com

http://www.blogsversite.com

http://www.digg.com

http://www.sponsoredreviews.com

3. For increasing traffic to your blog, Join this site for free and post up to 5 reviews per day:

Link Referral

4. Ping your blog: Pinging means that when your blog is updated, a ?ping? is sent out by the service to let pinging sites know that your blog has been updated. People who are visiting sites with pinging services will then see your blog flash across the side of the screen as ?newlyupdated.? Pinging services include Yahoo?s blogs, weblogs.com, Google Blog search and ZingFast. Also try Ping-O-matic and Pingoat.

5. Sign up for FeedBurner, an RSS service.

6. Bookmark your blogs at places like del.icio.us.

You can also set up an account and profile at del.icio.us.

7. Submit your blog to traditional search engines.

8. Submit your blog to blog directories.

9.Signup at technorati  and add your blog. Then ping it when you update.

10. Get a free account at mybloglog.com and add your blog then join the communities and make friends.

11. Join social networking site like Mylot.

You can add your blog to your profile, start discussions on your blog, make lot of friends, with whom you can exchange ideas related to monetizing your blogs, and most importantly, you can earn from each discussion or response that you post.

12.The other more popular social networking sites are Myspace, Facebook, Twitter, etc., but they don?t pay.

13. Join Traffic Exchange sites Like Apsense, Easyhits4u, Articleranks and 1800banners.

Ways of monetizing your blog:

Once you are able to attract sufficient traffic to your blog, you can start monetizing your blog. Some of the ways to monetize your blog are:

Contextual Ads: You can make money by pasting relevant contextual ads on your blog. The most popular ones are Chitika and Google Adsense. The others are Bidvertiser,Adbrite,  Text Ad Market, Infolinks, Kontera,  Adgenta.

Affliate Marketing: Affiliate Marketing is an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's marketing efforts. Some of the sites which allow affiliate marketing ads to be pasted on the blogs are Amazon, Linkworth, Commission Junction, Linkshare.

Also here are some sites which you should surely check out-these sites are free to join. Once you join these sites you can submit your blog entries to them. Depending on how many persons view your articles, you will be paid accordingly. Some of the promising sites are: Bukisa, Triond, Associated Content, Xomba and Squidoo.