I think doing anything needs time, effort and money. First, don't think in making a lots of money, just think how you can gain trust.
This question has not perfect or to the point answers. You might be earning fortunes from your directory and in some cases you might be investing fortunes in making them and earning nothing from it. I have seen both kind of cases Some directories earn $100 to $500 per day. While some people's directories are earning $1 in a month.
if you make a good directory and decide on what level of self promotion and spamming your going to allow you could make loads i know a directory owner who makes around $5000 a yr from featured listings. they are cheap for the buyers but they add up sooner or later. it has taken 3 years to get there though
You have to promote a lot. Directory is not a kind of business that runs on its own. You have to work continuously at least for the first 6 months to make your directory known. Competition is very tough. If you are lucky you can break even after 6 months. After that period you can expect to earn a little more than what you spend. And that can be only a few bucks. After 9-12 months your directory can provide you with a more stable income. Choose your promoting and link building methods carefully. Maybe you would like to check out my "build a directory" tutorial here. Good luck.
Time and effort alone wont help. Give us an idea of howmuch money you have ready for marketing and promotions. That is the first step.
if you are ready to put in time and effort, am sure you will earn money! you need to buy some featured links, in a few top class directories! get some high bids in good bid directory! after that make a brand! buy a few avatars and signature links of the forum! then slowly you will see you pagerank increase! after that you can start making a big of money! with a pr6-7 you can make a killing! don't be too happy! i would rather recomend you to start a blog, that will give you some easy money
umm expect to earn -$5000 if you want to make a quality directory !!!!!!!! maybe after a while when you get a good pr and prove yourself than you can expect to cut down some of that deficit
You would feel pain at the beginning since you have to spend a lot on promotion and no much submission (people need know your effort before submitting)
actually, its not true. PR7 does not take YEARS and YEARS.... a few have accomplished it within a couple of months. just depends how deep a pocket u have and how much risk u can stomach......
I've been going for 6 months, have spent $$$'s, now I'm beginning to get returns but 100% of them (and more) go back into investment. I've refunded many paid submissions to keep the integrity of my directories and am pleased to see that my submissions are increasing slowly but steadily.
I read most replies and I agree with some and desagree with most. In my opinio the most important to make money with a directory, is not the promotion but keep them clean. A directory with lots of promotion but also with lots of shitty links(broken/...) can make you some money in short time period, but it will "die" sooner or later. In other hand if you have a clean directory you'll keep selling links. You're not going to be rich but you can make a nice income. That's only my 2 cents