If someone with the security of a permanent job decides to quit, how do they expect to earn enough? Well, common sources of revenue include advertising, referrals, merchandising and in some cases from donations by fans. Of course, to be able to convert blogging into a full-time career, you need to be popular. And if you intend to depend on advertising or referrals to make money, the design of your page is very important. Amit Agarwal has a number of articles which show you how to optimize a blog for advertising, using real blogs as examples.
Blogging for a living sounds like such a nice job. No commutation, working from home, and no boss!
Well, it's not that easy. If you work for yourself, you do your own taxes, don't have health benefits, and taking a vacation directly impacts your income! And blogging isn't really an easy job. As Amit Agarwal mentioned recently, he spends 10-12 hours a day on his blog. And if you take into account the fact that he blogs 7 days a week, that works out to between 70 and 84 hours a week! That's as much as I spend in my job during the most hectic of projects!
Like I said - making money seems to be a lot of hard work. So it's back to searching for that dream alternative career for me. The one where I work maybe an hour a day and still earn enough to retire at 40.