Try not to leak too much of your PR to other blogs as this will reduce your blog's page rank. When your blog's page rank dropped you will be facing problem like not getting sponsors eventhough your traffics did not change.
Nowadays a lot of bloggers are doing Paid to blog program like joining PayPerPost, Smorty, and Loudlaunch. These programs will make your blog's page rank dropped. So you have to make up your mind whether to earn money and throw away your page rank? OR keep your page rank and earn lesser.
Read my previous post Decide your Blog's Objective INSTANTLY
So let's say you had a dropped in your page rank or been punished by Google. There are couple of steps that you can do to get it back but now i am going to tell you 1 important thing to do before you proceed to other steps! This will takes a lot of time in adding the codes to your sponsored links.....
1. Implement rel="nofollow" in HTML links.
example:
a href = "http://ihelppromote.blogspot.com" rel="nofollow">
This way you can avoid your page rank being leak out and Google will not punish you that severely, as Google do allow you to have sponsors but you must not have "dofollow" only "nofollow"
2. After you had done then remember to always accept only "nofollow" sponsorships instead of "dofollow" to avoid decrease in page rank.
3. Build more quality backlinks. Exchange links with other related blogs, if you had links back from a lot of PR4 related blogs the chances of getting PR 4 for your blog is closer than you think ^^
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