If you know how to market it (get eyes) and the eyes are coming from somewhere other than your own network it can have pretty good returns. It is fairly easy to put up a blog that will get 200 visits / day steady almost immediately. After this ROI can be much lower and I think this is where a lot of people decide not to update as frequently.
If your blog is unique and really fills a niche I think then it can be very sucessfull. Especially if you update it regularly and take good care of it (the hard work shows). Otherwise if it is something where there are 1000 other blogs out there doing the same thing then I think it is very tough. Even if you devote hours each day into it, it doesn't mean that people will return or that it will be a hit. Too much competition.
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