Is it possible to make money online?

Is it possible to make Money Online?
My hopes of stubsy's online media network have been starting to dwindle, as discussed before I had been quite pleased with the hits I was getting from Google and MSN when my site was written purely in HTML.
If think it was to do with the descriptions at the top of every page I'd put in H1 tags a bit about what the page was about like this "quick cash ideas, ideas for getting cash fast" but since moving over to the web 2 format, this traffic had started to drop.
Everyone knows if you want to make cash online you need traffic, no traffic = no cash. My traffic has slowly started to increase again though, I am now coming up on google for some quite good search terms. On MSN however I had about 20,000 incoming links from articles I had submitted etc, I did a check today using this tool and my MSN Link popularity had really dived.
I do get few hits from mybloglog aswell and I have a few subscribers to my feed (Thank you feed subscribers), I have two feeds ones the ordinary drupal generated one and the other's a Feedburner feed the feedburner one shows me subscribers. I will be swapping the other feed over to feedburner just as soon as I work out how.
All in all I suppose I am not doing to badly for a novice, I have also come into contact with some nice and interesting people.

But I was starting to feel a bit frustrated, I do believe it is possibly to make money from the internet you just need to give people what they're looking for, work hard and be adaptive.
John Chow and Darren Rowse have both had great success from online ventures I was starting to think I never would.
Actually I am still not sure If I ever will make money from the internet but I have found a small amount of inspiration from Mike's Money Making Mission.
Mike has been successful in offline media before, he obviously knows what he's doing in the world of publishing, but I am really impressed by the short time in which he's made almost £1000 Heres Mike's earnings breakdown.
Anyway Mike has given me a bit of motivation and I think his site shows it really is possible to make money from the internet.

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bhaque:

I don't know if I would be any good at it but I am considering Interviewing people successful and otherwise as to what they find works or what they hope to work, what revenue streams they use etc.

They'd get a link out of it and I think it could be popular for readers.

Lord Matt:

I'm no expert in topic width. It seems you have the finding out what works side covered quite well. What I'd expect to go with that is short, medium and long term reprots on stuff you have tried. Perhaps reporting on what other people have found when they tried stuff as you work towards becoming an expert.

bhaque:

Thanks

I can see by your blogs you know what your doing, I have added one of your feeds to my technorati favourites by the way.

Do you think I am writing on to wide a topic?

Lord Matt:

I have some tools at GL that might help. But in general terms I thik it is important to stay focused on a small set of topics so that you can establish yourself as he lead expert. This gives you the massive support boost of auto respect from your peers.

As a manager my first question is do you have a basic business plan if only in your head? What are you shooting for and how do you intent to get there in ten realistic steps. What evidence is there (opinion, gut feeling, hard facts ...all good here) that these steps will work?

Then it is just down to skill and luck.

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