If you're anything like me, at this juncture you aren't going to want to waste time with any of the subtleties and will just want to get down to business. I know just how you feel (I was eager to start earning, too), so let's get started.
The first thing you have to do to start earning online is set up a Google Adsense account. Most of the revenue-sharing sites earn through Adsense, and even if you end up with your own site it's a sure bet that you'll be trying to earn via Adsense as well. It's quick, painless and free, and since you'll probably need it anyway you should try to get it out of the way asap.
Next, you have to decide the manner in which you want to start earning. Assuming you don't have anything particular in mind, I'd suggest WebAnswers. A lot of people will suggest article-writing as the best way to start earning, and for long-term residual income maybe it is. (Moreover, article writing should definitely be one of your income streams, but I'll talk about that more in a different post.) However, in terms of getting started and earning quickly, my money's on WebAnswers.
WebAnswers is a question-and-answer site, that lets you can earn money for both asking and answering questions. (The site implies that being paid for asking questions is a limited opportunity, but I haven't heard anything about it going away yet.) You have to sign up (it's free) and answer 50 questions first (not all at once), but after that you'll be invited to join Adsense and/or enter your Adsense ID. From that point forward, you can start making money. Personally, I was lax with respect to answering the 50 questions, and I still started making money within about a week. I now earn money on WebAnswers practically every day.
In short, it's my suggestion that you get started by 1) setting up an Adsense account and 2) signing up with Webanswers to start earning asap.
For more great information of generating passive and residual income, please visit the Passive Pursuit of Income Blog.
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