All you need to do after purchasing your domain, is:
- create a blogger.com account for your business
- go to the settings for your blogger.com account
- click "Add a custom domain", and follow the instructions
Probably the most complicated part for most people, is that you will need to update your DNS settings in your domain so that the web page requests to your "www" site point to your blogger site. Don't worry about adds. You don't have to publish Google AddSense adds on your SMB site. I would imagine that many SMBs that use GoDaddy for hosting, might be looking to have their site hosted elsewhere, after GoDaddy's service outage on Sept 10th.