You can work directly with advertisers to place ads on your website. If you build up a strong blog and treat your advertisers right, you will have more than you can accommodate at any given time, which gives you some leeway if one or two cancel. You can also try places like Project Wonderful for specific ad serving that is pretty much hands-free.
If you have a dedicated following that may benefit from certain products, you can consider pursuing a paid review option. This can be tricky because your viewers may question the validity of your review. It is harder to be objective when you are getting paid to review an item.
Your Own Products
The classic e-book is a great example of something you can make a killing on that you are in complete control of. Write (or pay someone to write) a high quality e-book that is loaded with valuable content, and your readers will pay you for that information. The nice thing about e-books is you invest once to create them and can profit from the endlessly.
These are just a few alternates to the traditional Adsense/affiliate links model, but they can put reliable cash in your bank while not leaving you as vulnerable to changes in the market.