400 uniques a month average, what would you do?

You can give back and still make money, in fact that's the best way to make money.

Provide value and charge for it. If you feel like you're ripping people off you're either not providing enough value or you have little confidence. Both can be fixed with some work.

There's absolutely nothing wrong with throwing a few Adsense ads up and making a few dollars off of the advertising. You wouldn't be a traitor!
You can be netting 400 unique visitors a day within months if you know what you're doing - I've seen it myself. Add content, content and more content. More pages will get indexed by the search engines. Build backlinks to your articles. Build backlinks to those backlinks.

Thanks for the good advice so far, guys. I'll continue adding content and throw some adsense on there. I just needed the kick in the butt to take action.

Definitely continue providing your visitors with good content. You may also want to try linking to affiliate products that you have tested and that can help those visiting your blog.

Yepp.. Content is a king

You also can monetize your blog with a banner ads for someone to placing their ads if you don't want to go with adsense..
What is your blog anyway?

I think you should look at the bigger picture, 400 a month is good but not great. If i were you with a full time job on hand, I will spend 1 or 2 hour each day to research the niche i chosen, if you could spend more then its even better, And Research whats the current trend of information people looking for in that niche. You can provide Genuine content with information on weakly basis. Don't stop there get your Hand on social media marketing, Let your visitors share information. Provide social media icons, Spread your info through friends in social media. Social media marketing is very powerful nowadays. Adding your blog links here and there wont hurt, But try to place them in high page ranked websites. Links In your profiles, comments, or even a article. But don't add on sites that are link farms. You will see gradual rise in your visitors, And after that you can place ads, coz you providing valuable information so there is no wrong in asking a little bit of money for that. Good Luck Pal

As Dan said you could always offer a donation system for people to give back to your hard work on your blog or offer some kind of system where they pay to read your posts but you would need to make sure there amazing in quality.

Keep on posting high quality content on the website that you have. You might think that having 400 visitors per day is already good but if you already want to make the most out of it now, aim for improvements. After all, you have already found a way to start. Just keep going.

Just sell the ad places in your websites in micro niche sites create more ad placeswith different sizes sell the ad places to business owners.
Better way you can go to the adsense!!

Cheers!!

I would do some affiliate marketing, but make sure you drill down into a specific niche within Internet Marketing because you can go many directions within that niche. To your success!

If I had a site about internet marketing then I'd giveaway free internet marketing tools only to those who signup to my site and become members.
Once, I have generated enough signups, I'd sell the site out to a competition and make heavy money.
Now, your problem is, where can you find softwares/tools to use as bait to build your list.
My problem is, I can't find any good ideas to build a software/automation tool around. Don't want to be spending nights building a tool where it fails to sell like hot cakes.
I'm prowling this forum on the lookout for "moaning people with problems" saying they work too hard but the return is too low and it would rise providing they can speeden-up their repetition but it is too impossible to do it manually. In such a case, I just might build a tool to do their repetitions and then give it away for free from my website to my members or sell copies of it.