Very Hard Goal
Monetize your blog. There are multiple ways to monetize your blog (addressed briefly in my Blog FAQs), but in order for this to work, you need to build an audience. Wait, didn’t you just build an audience when you were achieving the hard goal above? Good for you. Now take that audience and times it by a gazillion (alright, maybe not a gazillion, but you need to increase it by a lot).
You see, blogs are free to read and even then the vast majority of people will not read yours. You can imagine how much more difficult it will be to make them shell out money for a product you sell on your blog or to make the monumental effort to click on an ad or affiliate link. People are L-A-Z-Y and making them do stuff is very, very hard.
Making money from your blog requires great content and big, motivated audiences. Good luck.
I think most business owners would be best served by trying to reach the medium goal. Posting educated and SEO-focused content on your blog should increase your search engine rankings over time and will also show potential customers who may be exploring your site that you know what you’re talking about.