You dont NEED a huge list to become a super affiliate. Just about 200 small lists! No, joking aside you should be building a list in all niches but you can do well with a responsive list that has a few hundred people on it. Or even if you dont have a list and put the work in you can do well. Of course there is REAL money in a good list however.
Yes, all you need is a cape! Did you get a cape yet? That's the only way it will work, & make sure it doesn't have an affiliate hood.
In my experience only the hard work. You need to take it seriously and this should be your primary job. The thing is that you can't say that you'll work 8 hours, because this hours can often expand, and they always depend on the hour, meaning if you target US market, you need to be awake when your customers are shopping.