For sure. But as one other person mentioned, it does take a lot of work. I go through our process + tips in this free webinar: http://alexisgrant.com/webinar-guest-blogging/.
Also, Danny Iny has an affordable course that focuses solely on guest blogging, which is what I recommend whenever readers ask me how to approach it: http://writelikefreddy.com/site/?hop=alexis9. His stuff is really quality. (That's an affiliate link because I highly recommend him.)