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How to Sell an Ad Space:
An Ad space is a space where anyone can post an ad. You can sell this ad space on your website. You can have a forum built through WordPress
How to Publish an Ad on WordPress:
In your WordPress website, go to plugins and install an ad manager. The problem with the free version is that you will install is that you can't track impressions & clicks. So, you'll have to do it manually in the beginning.
You can go with the option of using an ad server. You can start with $15 per month & host 1M ad requests.
How to Create an Ad Campaign:
Whenever someone buys an ad space, you can create a campaign. As a beginner, focus on CPM & CPC in the pricing section. Personally, I price this service for $99 per 100K impressions.
There are several questions that you'll probably be wondering about, here are some questions and answers:
I have a website. I drive traffic to it. How will I tell people that I sell ad spaces?
You can sell this service as a gig on Fiverr through an announcement or you can add a notification on your website.
How can I drive traffic so that I'll be able to provide this service?
Simply, drive traffic to your website! You can watch the following playlist to get more information on how to drive free traffic to your website..."
Be determined and work hard. You'll see how it will be a lifetime investment for you.