**WARNING** Before you jump off to switching your Blog into your dream "automated money making machine" please make sure you have a nice share of traffic inflows! Money can always be made later but not traffic. First create a good reputation for your Blog then go for earning from it.. I hope that helps!
It all starts with good content. If you have good content in a specific niche, you will attract a good amount of traffic. Once you have the traffic you can make money with adsense ads, affiliate products and you own products. Once people trust you, they will buy products that you suggest. But, this isn't a quick thing. It definitely takes time, but once it gets rolling, it is worth the time that it takes.