If you find that you enjoy blogging and that you have a readership forming you can turn your blog into a business! You do that by monetizing your blog. You can make money from blogging. It is nice to monetize to help compensate you for the amount of time you spend blogging. Blogging is not a "get rich quick" business though. It takes hard work and dedication to your blog. If your readers gain value from your blog then they will read it and if they read it they may click on your affiliate links.
Blogging 101 - Turning Your Blog Into A Business:
If you decide to turn your blog into a business you will need to treat it as such. If you are earning income from your blog you will have to report that income and pay taxes. I personally suggest becoming a Limited Liability Company (LLC) or Incorporation (INC). You will also need to file a DBA (Doing Business As), obtain an EIN number and open a business account. We chose to form an LLC and we do business as Stockpiling Moms. I also suggest seeking the advice of an attorney and CPA, keeping a chart of all expenses and if possible create a work space for yourself. If you don't have a dedicated work space you are not really treating yourself like a business. This could be a dedicated space with filing space even if it is in the corner of a room, in a closet, or spare bedroom. If you don't treat yourself as professional it is hard to be taken seriously as one.
I recently attended Camp Blogaway and the one thing that stuck out to me was that "You are in the business of YOU". Your ethics, your morals and your style. I really feel that is the key to blogging success. You must answer to yourself. Even if you monetize your blog and get paid for posts it is up to YOU to feel comfortable promoting the products and brands. We are very careful about what we post about and how we monetize our blog.
There are other ways to make money from blogging. You can offer ads, affiliate product sales, create and sell cookbooks, shirts, offer classes, sell blueprints, sell training DVD's, book or movie deals, or become a paid spokesperson. All of these offer additional income to your blog. These are all legitimate sources of income that must be reported as income.
Sources for legitimate affiliate programs are:
My Savings Media
Disclaimer: I do want to add that I am not an attorney or CPA. My advice is just that and please consult an attorney or CPA before you move from Blog to Business.