Are you tired of blogging and dying to get traffic to your blog?
Ok then you’ve come to the right place.
All you have to do is to set up a blog via WordPress (self hosted).

Don’t Know how to setup WordPress (self hosted) ? Read here.

All this is Easy. Now let’s go the other steps.
Now the next step is that you have to add a Plugin named Adsense-Manager which you can download here.
For more info on how to install plugin visit the link here.
Now setup your website and remember to add your own advertisement code to your blog’s template Before. To learn more on how to edit templates go here
After this make up some friends so that they can blog on you blog.
To add users to your blog simply go to users tab in extreme right (for wordpress 2.6.1) and there add a new user. Remember to change their role to contributor or author.
Tell them that they can earn money from it. Make them sign up for adsense or adbrite via referral program(you make profit here too!) and tell them the size of the ad (whatever you want) and then take their ad code.

Now go to manage > Ad units after installing the Adsense-Manager Plugin and there add the advertisement code with the author’s name (to make it easy).

Tell your friend that whenever he will post he can display upto one(or how many ever,your choice) ad in his post(if you are using adsense you cannot display more than 3 ads on your webpage so make sure this does not occur). to know how to display ads in wordpress post via the Adsense manager plugin follow this link.
Make sure that you have embedded your advertisement in the template (usually banners or huge sidebar to make sure they are perfectly visible) otherwise you will be making profits for your friends.

All done!

You both profit, you and your friends but you profit more without much hardwork!
Main Aim behind this is to increase your traffic like anything.
When a author of your website will post he will definitely want people to read his post so he will try to advertise his post and do many things so that he can get his ads clicked on his post.
And so you already know that not only his but even your advertisements are being seen!
There is a common logic behind it that if only 1 person will try to get traffic he will be able to get only 10 people but if 10 people try then the traffic will 100! IN this matter you will gain!
Also you will have your content increased as authors will want their ads to be shown so they will try to write more posts and so already there are many members than your content will increase like flames!

To make your authors speed up you can also offer things like a link on the main page of your blog as a featured article to their post , or any other thing like mugs , caps or anything.