Search engine optimization is far from being called an exact science, its a constantly evolving and changing process, almost every aspect of search engine optimization is influenced and reshaped by the changes search engines make in the there working. A direct consequence of LSI and the way in which Google and Yahoo have reshaped there search engines, has been the way link building has to be carried out today. The basic objective of link building is still to get as many links as you can, however the focus has shifted from plain links, to relevant links. To put it in plain English if your site specializes in selling car parts, there is no way links from construction company will help your link building cause.
Paid links and other methods
like all things in life, there is a commercial option to link building, by actually paying a company or a site owner, you can get them to put up a link for you site, such sites are usually well established and they have considerable standing with search engine. The only thing that you need to look out for is that such websites are well established and are not running a scam. Paid links are a very controversial and a debatable method for link building; there are also other similar methods that are similar to buying links. It is easy to say that these methods are black hat and do not work. However the truth is far from it, more and more sites have used similar methods like link farming, paid links etc., to gain success on search engines. So the decision to use such methods is ultimately the webmaster. Start by submitting to more well known directories that have a higher page rank according to Google. When you view a directory as a backlinks for search engine rankings instead of traffic you will be more willing to submit to a free directory and maybe a paid directory as well. This becomes a matter of budget. Doing a paid submission to a directory like Yahoo could pay off for you in terms of traffic and a quality backlinks
To conclude the first thing that must be mentioned here is that, it is virtually impossible to mention the ways in which webmasters and search engine optimizers are working out methods for link building, there are so many conservative and radical methods that one could write a separate book on link building alone (surprisingly there is no such book in the market). What can also be said is that link building like search engine optimization is a rapidly evolving process and a link that might have worked in the past may not work now.
Smart SEO experts and webmasters have already worked out effective ways of link building by splitting the links across multiple sites and blogs. This ensures that even if a few links are no longer effective, the over all link building exercise is not effected adversely. In conclusion don't have a single plan in my mind, explore all avenues of link building to ensure greater success.