Selling blogposts,blogrolls and using google adsense if you are getting good traffic at your blog. DON.
Depends on the type of blog. If you're reviewing products or talk about something that requires products then set up some affiliate links. If you're into self help then sell an ebook. Like others said of course adsense and link selling.
Definately would not say adsense, maybe for some, I started out with a blog and some related CPA offers...
I personally think banner ads is the most profitable way, but you got to have a high traffic site to attract rich advertiser.
Affiliate is the best.. you earn more. This would be your primary online income. Secondary income could be from your google adsense earning.
With the rise of social and celebrity interest, blogging has become a premier way to get information, stay connected, remain in touch and/or become involved in the conversation, lives, or events surrounding those that peak our interest.
For me, affiliate programs have earned me more money than adsense. After you have achieved high web traffic, you can earn pretty decent money by selling ad space.
Having a business model. Of course. Nothing is more passive and secure (and profit pulling) than having a business within your blog.