1. Acquire Knowledge

Your first step is to acquire the basic skills and knowledge. You need to know how to run an online site or business. If you don't have any programming skills you can sign up for online site builders and editors to get you started.

Also you must familiarize yourself on how an online site works, how to use keywords, how to create valuable content and how to tie in your affiliate links with this content.

2. Find your niche.

You must fully understand your niche in the whole online affiliate marketing process. Always remember that content is your most important weapon, so it must offer information, solve a problem. That way your readers will see your site useful so they will still keep on coming back for more.

3. Know Your Partners & Their Products

As an affiliate, you are selling other people's products. So it's a must to get to know your future partners and their marketing systems. It is better to pick affiliate products directly related to the topic of your site. Something that your visitors are interested in and would likely purchase after you have provided them with valuable information on those products.

To find potential products and partners you can join the well established major affiliate networks on the web. like Commission Junction, LinkShare, ClickBank, Amazon, Shareasale. You don't need to worry in dealing with these networks for they have been around for years and offer excellent payment structures and commission rates.

4. Build Your One-Way Links

Don't sit around waiting for links - instead you must go out and get them. Use keyworded anchor links in the resource box of your articles. Distribute these articles to all the major article directories like Ezinearticles.com, Goarticles.com, ArticleAlley.com. It is also advisable to create viral videos and join social media sites to let the word out about your site.

5. Prioritize Google But Don't Ignore the Others

Google is the search engine that you must optimize for if you want your site to really succeed online but don't ignore the others. Do everything you can to please Google. The rewards are worth it. Whether you're a Google fan or not, Google has gained the trust and respect of the majority of Internet users. Getting on the first page of Google's Result Page for your targeted keywords will often mean money in the bank.

6. Be Patient For Results

Putting up an online affiliate business takes some time..so be patient. If you're building a content rich site and targeting specific keywords it can usually take months, sometimes even years, before you can see significant results. That's why it is very important to have long term goals and expect plenty of hard work before you reap the real rewards.

7. Be Aware Of The Social Media Evolution

Internet is constantly changing and in the next few years everything will be turned unorderly. So always bear in mind to stay updated with all the latest trends and always make sure that you staywithin the flow by making sure any site you create has a blog and RSS feed attached to it. Also make sure all your content can be easily bookmarked in all these different social bookmarking sites.

And speaking of evolution, there is a new product by Russell Brunson called Affiiate Evolution that will be out on May 27. Affiliate Evolution shows how to evolve from an average affiliate with low earning potential into an affiliate which is advanced beyond your greatest expectations.