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This is probably a cliche, but...
I always tell clients that the best way to get links is to be link-worthy in the first place. Personally, I would rather spend my time creating a website (or better yet, a blog) that was incredibly useful, interesting, helpful, original, etc. than spending endless hours hunting for links.
That way, your core product improves while also increasing your linking profile almost without any proactive effort. People link to sites they like without having to be asked ... all they need to do is know the site exists.
If a site is not worth linking to, link building will be a long, hard and expensive process.
Another one of my favorite link-building tactics is to write a great article on a topic related to my site. Then I'll find hundreds of sites that publish content similar to that and exchange the article for a link. To succeed with this strategy, you have to go beyond the article directories. They're a good place to start, but the best link opps will require you to actively seek them out.
Hope that helps!
-ASG
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