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Yea, people just about nailed everything. I'd just tell you to play with affiliate products at first. Use free methods like Blogger and Squidoo before you go blowing cash on anything.
That's really the first mistake every newkid makes: they spend money on what could be done for free.
All you should have when you make your first $100 is a computer, a solid word processing program (OpenOffice.org) and an internet connection.
I'd say you should try promoting a good product on Squidoo.
Give this a shot:
Go to PayDotCom and dig up a product you can get behind.
Go to the Adwords external keyword tool and see if the product name has a half green bar.
Make a Squidoo lens with the keyword being the product name.
Review the product. You can use some stuff from the sales page, but don't pull too much.
Then hit your lens with socialbookmarking sites and you should land in Google under the product name.
Embed your affiliate links in the lens... offer a bonus (like some PLR ebooks or something) if they buy through your lens.
Put your email in the lens and have them send you the receipt.
Lather rinse repeat.
Grab a free report on SEO and you'll know everything you need to in order to make your Squidoo lens Google friendly.
You spend nada and learn what works and what won't.
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