If you're new to affiliate marketing the first thing I would do is learn by watching what the "gurus" are doing. Signup to receive their emails and such, then do whatever you can with the resources you have as close to what they do. You don't have to pay for a course on how to affiliate market if you just pay attention to how successful marketers promote a product, launch a product or whatever they're doing that you want to do.

Keep your expenses down starting . For example one thing you don't have to do is buy a bunch of domains. Get one domain where you have plenty of room to grow and bandwidth for when you get busy. Then just add pages for products you promote and promote those pages. Starting out you aren't going to have a list, so concentrate more on SEO, which includes article, blog, forum and social marketing, etc. marketng opportunities. You want to try to rank high in the search engines for people that are familiar with the product and are searching who they want to buy from.

Take some proactive marketing measures that fit your budget to start building a list with lead capture pages., proactive email marketing, traffic exchanges and any other way you can make contact with people by actively seeking them out instead of just waiting for them to hopefully stop by your site and opt in.

There are tons of free resources that can help build your SEO and remember that with 1 domain anything you do to promote any pages you make helps your SEO for your entire site as opposed to having several domains and your SEO is mostly piecemeal helping only 1 domain at a time.

You can make lots of blogs free pointing at your pages, same for articles, video's and other resources that are loved by search engines.
Don't try to sell everything out there. Pick a product you would buy yourself and it's better if you do buy it for yourself. do everything you can to get towards the top of the search engines before adding new products. About no more than 1 per month might be a good schedule. 1 good month worth of hard work focusing on 1 product should get you some results. Then you can add another product(preferably in the same niche) and do the same again learning what works best from your first campaign. Then just keep refining your strategies will make you a more effective marketer.

I, as anyone who has done this could go on and on, and there are books worth of details, but this post is more than long enough. There'sprobably as many good strategies as there are products out there.
John