Definitely, you are going to want to do your due your diligence in selecting a viable niche for your business. But it will actually be better to get up and running sooner than later. This way, it enables you to enter the market sooner, test out your ideas, and learn from your successes and/or failures. Also, if your first business isn’t successful, you can take what you have learned from those first attempts move forward with new and improved ideas.
Now Tom's Hardware publishes their own reviews, and on top of their display ad revenue, they are making a significant portion of money from Amazon Affiliate links.  The site is already well known for reliable content about Personal Computing, so it made sense to turn up the content generation to attract more organic search volume.  It would be tough to estimate monthly revenue for this site, but it's highly likely that it generates 7 figures per month. 
In 1994, Tobin launched a beta version of PC Flowers & Gifts on the Internet in cooperation with IBM, who owned half of Prodigy.[6] By 1995 PC Flowers & Gifts had launched a commercial version of the website and had 2,600 affiliate marketing partners on the World Wide Web. Tobin applied for a patent on tracking and affiliate marketing on January 22, 1996, and was issued U.S. Patent number 6,141,666 on Oct 31, 2000. Tobin also received Japanese Patent number 4021941 on Oct 5, 2007, and U.S. Patent number 7,505,913 on Mar 17, 2009, for affiliate marketing and tracking.[7] In July 1998 PC Flowers and Gifts merged with Fingerhut and Federated Department Stores.[8]
Education occurs most often in "real life" by becoming involved and learning the details as time progresses. Although there are several books on the topic, some so-called "how-to" or "silver bullet" books instruct readers to manipulate holes in the Google algorithm, which can quickly become out of date,[37] or suggest strategies no longer endorsed or permitted by advertisers.[38]
Where they make their money is when someone picks a school to get information about.  There are companies (like Quinstreet) that allow you to get paid “per lead” for education content.  Some of these leads can payout anywhere from $20 all the way up to $50 per lead depending on the institution.  There are plenty of affiliate sites in the education niche that get paid using these types of leads.  I'm not sure if LearnHowToBecome.org uses Quinstreet or another CPA network, but the fact is that there is definitely big money in the field for education affiliates.  It used to be that these were some of the most profitable CPC adsense earning niches you could be in (see our sites from 2012), but lots of them have completely shifted to the lead based model when it comes to monetization.  If I were to guess, LearnHowToBecome.org is probably making multiple six figure monthly income due to ranking for a number of excellent education focused keywords. 

To refresh your knowledge you might remember that context ads earn you money for each person who visits your site and clicks on the ads. The ad network automatically generates the ads and you insert them into your site just by copying a small piece of code. The biggest context ad network is Google AdSense, so a lot of people (including us!) will use the word "AdSense" when they're really talking about "context ads" in general.
Have a plan — As an affiliate, you aren’t entirely responsible for the sales of this company, but you are responsible for the success of your affiliation with that company. If you want to do well, prepare. Have a professional-grade website. One consumers trust with their contact information. Have a strategy for the content you produce and how you promote posts or products.
Affiliate marketing should be viewed as a long term business, so give careful thought to your affiliate marketing niche before you start developing a website and building a mailing list. The subject should be something you enjoy and have some interest in, or running the business could become a chore. Remember that the goal is to make money, so avoid any ‘vanity projects’ where there are little or no profits to be made.
Two-tier programs exist in the minority of affiliate programs; most are simply one-tier. Referral programs beyond two-tier resemble multi-level marketing (MLM) or network marketing but are different: Multi-level marketing (MLM) or network marketing associations tend to have more complex commission requirements/qualifications than standard affiliate programs.[citation needed]

In the case of cost per mille/click, the publisher is not concerned about whether a visitor is a member of the audience that the advertiser tries to attract and is able to convert, because at this point the publisher has already earned his commission. This leaves the greater, and, in case of cost per mille, the full risk and loss (if the visitor cannot be converted) to the advertiser.
10Beasts.com has been a successful affiliate site for the last couple years.  It's been somewhat of a “hot debate” in the internet marketing industry.  The website actually has very little content when compared to some other authority sites.  It has under 20 pages of actual content, but it's believed that because of the strong linking profile, that Google favored the site's content.  It's an extremely unusual site, as most of the link profile consists of scholarship links, which many marketers believe is an overused link building tactic that's ripe for a Google penalty.
Russell Brunson teaches you how to turn leads into qualified subscribers. The strategy then goes into turning those subscribers into buyers and teaches you how to identify hyperactive buyers to build your business around them. This approach allows you to build a business as an affiliate rather than giving away your leads and customers to merchants.
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