This is the best way for a beginner to start out. Build a blog on a particular niche(topic), create good quality content for it, have Google index and rank your page high for your keyword (topic) and sit back as Google sends hordes of visitors to your site. Finally, count your money from all the Adsense clicks. Right? Well almost.
This is the procedure but they don't tell you that to make serious money at this you will need to create dozens of blogs. Yes, you heard right. Your main blogs will have decent pages addressing the needs of your visitors and suitable for marketing products. The majority of the blogs however, will be set up to simply generate Adsense clicks. The articles will be unique but crappy and visitors that end up on these blogs will quickly leave - hopefully by clicking an ad that will take them to where they were trying to go in the first place. This is called spam blogging and as unethical as it seems, it is how many people make a lot of money with Adsense. No one talks about this aspect of making adsense profits. No one wants to admit that they use this tactic and yet this is the main method of generating decent money with Adsense with out spending money to get traffic.
This is also the system (modified a bit) that I recommend to all beginners. It's the cheapest way to start earning cash, it will teach you all the main aspects of Internet marketing and you can start immediately. However, you will have to decide if ethics or making money is your top priority first.
It is important to use your keyword in your Blog's Title and Address. This will greatly help you when it comes to search engine rankings and indexing. This is a big topic that I won't get into right now - just trust me on this.
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