Best Way To Monitize A Blog
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I think the best way is to build a relationship with as many people interested in your topic as possible. Encourage them to participate in commenting and get them to subscribe rss and also join your email mailing list. Offer a short course or a free e-book or video as an incentive. Once they join your list send them useful information related to your topic. In a soft sell way offer them affiliate products or your own unique products.
Implementing will take more work but that is a whole business plan.
Someone said your business plan should be clear enough to write on a napkin. Think of even some big companies: Fedex - overnight delivery, Ford - make cars, Rolex - make watches.
Not that good businesses are ever built overnight, but a clear focused idea is the foundation.
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No matter where a situation stands, improvement is always on the horizons