The document discusses various ways for bloggers to monetize their blogs effectively, including direct advertising, affiliate programs, donations, merchandising, consulting, and speaking engagements. It notes some well-known blogs that earn thousands of dollars per month and mentions challenges independent bloggers face in business development. Fragmentation of online audiences and inventory limitations challenge large publishers and advertisers. Partnering with advertising networks or representation agencies can help bloggers generate more stable revenue streams. Indian bloggers should consolidate to capture more of the growing advertising market.