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Just to cover the ground, lets go over what link building is quickly. Link building is the process of building backlinks to your site. More backlinks (link form other sites to your site) a site has, higher it ranks on the search engines. Link building therefore is a mission of all money making webmasters.
Link building methods have changed form time to time and a specific method that worked yesterday may not work today anymore. This is due to changes in the industry over time and in some cases extreme abuse. If a specific link building method has been abused too much, then that method will not work anymore. It is therefore very important to know which link building method works today so that you can spend your time in a most productive way.