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Personally, if you are asking that sort of question of how to promote it, perhaps you may not have the essential knowledge required to run a business.
This is the problem with the web, evryone wants to be a big businessman type - few manage it. Most will fail, and then blame everyone but themselves for the failure. So many businesses go down - even the established with cashflow of millions. All it takes is one bad decision cash wise, and you could be stuffed.
Just my 2 pence worth. Listen good luck anyway okay.....
Ska
He won't get the advice he's seeking here. Why don't you talk to a proper professional business advisor? There is a lot of free advice out there on starting a business.
Or is this a get rich quick thing............
You might want to consider doing a limited and very targeted PPC campaign to send traffic into sections of your directory targeted to the keywords you bid on.
Also, try bidding on terms like "widget links" or similar in the hopes that people looking for a good link will be interested in purchasing a directory link (assuming that there's a submission fee).
The lists might be okay for getting your site 'out there', and you may get a couple of good PR from it. But that's about it. If your seeking a major result from free links - forget it, unless you have 10'000 of them. I only get about 900 visitors a month from free links, and that's with 600 links out there at present.
But you have to know that actual enquiries for even a good directory can be 0 for years and years. People expect you to be big and established before they will buy. I don't believe that giving value works anymore. You need to be unique. And then you need proper advertising - not this free link crap... It just doesn't work.
Maybe it works for adsense, but I'm even thinking now that's a bunch of bs too. As time goes on, you learn what works and who really knows what they are on about. There's no substitute for experience.
Also...Get a good directory software that is SE friendly and do some PPC with google to launch it.
Good Luck!