Gary Vaynerchuk provides these clear steps of how to cash in on your passion and how to effectively build your personal brand.

1. Identify your passion
2. Make sure you can think of at least fifty awesome blog topics to ensure stickiness
3. Answer the following questions – Am I sure my passion is what I think it is? Can I talk about it better than anyone else?
4. Name your personal brand. You don’t have to refer to it anywhere in your content, but you should have a clear idea of what it is. eg: The connoisseur of cookware, the guru of gardening etc.
5. Buy your user name – .com and .tv if possible at GoDaddy.com
6. Choose your medium: video, audio, written word
7. Start a WordPress or Tumblr account
8. Hire a designer
9. Include a Facebook Connect link, call to action buttons, share functions, and a button that invites people to do business with you in a prominent place on your blog.
10. Create a Facebook fan page
11. Sign up for Ping.fm or TubeMogul and select all of the platforms to which you want to distribute your content. Choosing Twitter and Facebook is imperative; the others you can select according to your needs and preference
12. Post your content
13. Start creating community by leaving comments on other people’s blogs and forums and replying to comments on your own comment
14. Use  Twitter Search (or Search.Twitter) to find as may people as possible talking about your topic, and communicate with them
15. Use Blogsearch.Google.com to find more blogs that are relevant to your subject
16. Join as many active Facebook fan pages and groups relating to your blog topic as possible
17. Repeat steps 12 through 16 over and over and over and over and over
18. Do it again
19. Do it again
20. When you feel your personal brand has gained sufficient attention and stickiness, start reaching out to advertisers and begin monetizing
21. Enjoy the ride

Source: Why Now Is The Time To CRUSH IT! Cash In On Your Passion – Gary Vaynerchuk