1. Build a site
If you don't have a site, you have nothing to put content on.
2. Get content
If you don't have content, you have nothing to be indexed, backlinked, or ranked.
3. Get backlinks
If you don't have backlinks, you don't have rank.
4. Get ranked page 1 and spot 1
If you don't have rank, you don't have organic traffic. Organic traffic converts because it is targeted.
5. Tweak Ad layouts for better conversion
6. Profit!
Consistent massive effort will earn you money. At the beginning it's foolish to worry about "how much money" because any is more than none. Just take action. As long as you don't do obvious things that will get you banned or deindexed you'll be fine. You can always tweak your methods along the way and go back to those early sites. Just keep moving and refining your system!
This is the best "get started with SEO" guide I have ever seen.