Based on what I have read/seen, here is my opinion on how to make it.
As an artist
1.) build a local live following that will buy your merchandise and support you
2.) expand to larger areas as you get better and more well known
3.) have great songs on youtube that can reach a larger audience.
4.) Once you have proven regional success, then you will become attractive to record companies.
Hey, if you can't get 5,000 fans on your own that will buy your music, why would a record company want you?
As an writer
1.) Write, write ,write as many songs as you can until your skills are good (as determined by whatever method you choose).
2.) Become a known entity at all the open mics and writers nights in your area and become friends with artists by supporting them.
3.) Work yourself into co-writing with local artists. Probably need to have a few writing sessions a week.
4.) Start visiting major music centers (Nashville, LA, New York, ... -- based on what market you want to break into) regularly and make contact with writers there (again -- writer's nights, open mics, etc.). Make friends and show your support.
5.) Start the co-writing ball going in those music centers.
6.) Keep doing that and still keep doing 1, 2 and 3. It's a long haul.
Can you make lightening strike with a viral youtube video? Maybe, but that occurrence is probably outside basic laws of probability.
These tv shows (american idol, x-factor, the voice, ...) are another way -- but the odds are extremely low in that area also! From what I understand, ALL of the folks on The Voice are already professionals that have already put the time in and have "sponsors" in the music industry.