A Few Questions - Blogging for Confidence & Advertising

I have a few quick questions for you guys! If you have time to help me out I would really appreciate it. 
I'm really excited that so many of you have shown an interest in this series! (It makes me feel all warm and fuzzy inside.) ;-) 
How do you want to do this? I initially thought it would be a personal thing and we each come up with our own challenges. Once you complete and blog about a challenge, you would email me so I could compile a group post! However, I received a few emails and comments about everyone trying to do the same challenge together. I think that could get a little complicated, but let me know what you think! 
I've been thinking about opening my blog up to sponsors. Is that something you would be interested in? I'm not sure when I will start having advertisers, but I thought I would see what your response is. 
Leave your answers in the comments if you can! I've also set up two polls down at the bottom of my blog if you just want to click give me your answers.
Thanks again! I hope everyone has a great day. I'm about to head out the door and do some serious yarn shopping. I'll try to control myself...but I'm not making any promises. I will take lots of pictures of the pretty yarn for a post on Friday! :)
*We also have a winner for the Kate's Paper Goods giveaway! Congratulations Amy Marie!