Displaying ads on your blog is certainly a simple way to try to generate an income from it. However, ads are not a guaranteed money-maker. For one reason, they are often dependent on the actions of your blog's readers. For another reason, generating a significant amount of money through advertising on your blog is unlikely (possible but unlikely) unless your blog receives a very large amount of traffic each day.

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By diversifying your Income generating opportunities, you'll have a greater chance of successfully monetizing your blog. Following are a variety of nonadvertising methods to earn money from your blog.

Sell Merchandise:

Many bloggers have success selling branded and non-branded merchandise on their blogs through CafePress.

Ask for Donations:

It can't hurt to ask your readers to donate to your blog. Some of them just might do it. You can add a donation button to your blog through PayPal.

Sell Your Guest Posting Services:

Most bloggers write guest posts for other blogs for free as a way to promote their own blogs. However, you can also offer your guest posting services for a fee.

Write and Sell an Ebook:

If your blog has loyal readers then they must like what you have to say. Similarly, if you've established yourself as an expert in your blog's topic, then there is a good chance people will want to read more from you outside of your blog. Leverage that position by writing an ebook and offering it for sale on your blog.

Write a Book:

If you've established yourself as an expert in your blog's topic and developed a strong following, you could write a book and either try to have it published or self-publish.

Become a Professional Blogger:

Many blogs and blog networks look for talented and knowledgeable writers to author blogs, and many of those blogging jobs are paying. Apply to blogging jobs to boost your blogging income.

Apply for Other Writing Jobs:

Blogging can help you polish your writing skills, which can help you land other freelance writing jobs online and offline. Transitioning into freelance writing from blogging is not unusual and can be very lucrative.

Become a Public Speaker:

If you've successfully established yourself as an expert in your blog's topic and generated a decent amount of traffic to your blog, you could offer your services as a public speaker at events related to your area of expertise.

Become a Consultant:

If you've established yourself as an expert in your blog's topic, you can offer consulting services to other people or business' who could use the help of your expertise. Alternatively, you could offer consulting services related to developing and writing a successful blog.