i would say spend 80% of your time in research and find what is selling well.
find what there is a big market in....i.e. like the poker craze...unfortunatly now for people that think they can make a buck now that I mentioned it, well you can try but i feel this market is now a little flooded.
just find something that you think will be big in 6 months and continuously getting popular or going to be the next craze.
one of my friends set up a blog on how to make bacon soap (yes dont ask) and it gets thousands of hits each day.....no only is he doing well with affiliate programs (related to this niche) but he is doing even better with adsense which is not hard with that sort of traffic obviously - good for him.
These are just some ideas to get you goin.
Now go find that hungry market....thats the key here!  happy hunting
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