There are many people that have struggled with this. (I included). It took me about $400 and almost a month to break this barrier. Once I jumped on to LeadImpact and started with PPV I made my first conversion that very day. I realized I was lucky though as I had to work very hard to get conversions from my later campaigns.
Lucky for you I'll be giving away some of my campaigns that have brought in conversions. I can't guarantee you can make them profitable though due to the low payout but it's definitely worth doing to prove to yourself this industry is legit.
If you haven't already signed up with MaxBounty and LeadImpact, do so.
Search and select GoFreebies from the offer list,
Get your affiliate link. If you don't know how to do this watch the video below,
Once you have that link set up your campaign in LeadImpact and select the following URLs/Keywords as targets, (highlighted in green)
As you can see these targets worked and brought me in some 'leads'. Whether it's a sale or a lead prosper202 refers to both as leads. I was unable to make money off this but it's a good starting point or morale booster to show you how this can work. Set your budget to about $10 and wait till it runs out. If you haven't made any money yet, go through your tracking and delete the keywords/targets that have the most clicks as these are eating up your budget but by now you would have most likely made a conversion.