Yeah many bloggers are already there making money from nothing, just by working for 2 to 3 hours daily on their goldmine blog. As I always mention on this blog the best thing to do to get there is to watch. Don't start any project, don't hurry, force, be tempted, rushed, ... to start if you feel you don't yet know whats going on. This is very important because in the world of blogging traffic = money, yes, and if you are new to blogging you don't know where the traffic comes from. And by studding any blog I was able to figure out whether or not it was a good business or not. This depends on some important things you have to notice about blog.
Traffic: Traffic can be measured by many ways, first you can check for blog search engine ranking like Technorati, and see how many members it has in communities like MyBlogLog and BlogCatelog, these numbers can give you important insight about the traffic of a blog. Also Alexa is my favorite it can tell u whether the website has traffic Alexa 2000000 or lower, and also is the traffic rising or declining.
Although Alexa ranking can be manipulated by some webmasters its still a good measure of website traffic.
Google PR: Google PR is essential to any successful website, its the current that make google index pages, and without this current the blog will be seprate from the internet world. So having some PR is important to decide whether its a good blog or not.
Another thing you can look at is the number of indexed pages, this also can be an important mesure of PR and how good internal structure is.
Starting Date: When the blog was started and how consistant the blogger was is also important as it will show he had been motivated to go on posting.
No of Posts: No successful blog has less than 100 to 150 posts, after this number of posts and good content and promoting , you can have a constant residual traffic. Off course if you haven't made a mistake.
Quality Of Content: Blogs must be human friendly more than Search Engine friendly, this way they can make loyal visitors and interest. It might not look important to blogger to post quality content, Its one of the lessons you can learn from watching the the bigs.
Some Widgets: Some widgets like traffic meters and Feedburner subscribers and aweber readers widgets can be importnt to measure importance of a blog, and number of readers subscribed to the feed, also there are some widgets.
The summary of these factors can tell you a lot about the blog and how much traffic it has, then you can decide whether it will be good to check the techniques followed by this blogger or not.
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