A lot of time is spent by bloggers trying to get other blogs to link to them. A lot of traffic can be gained by doing this with blogs that are both related to your topic and blogs that have a lot of readers.
This can sometimes be very difficult for new bloggers because they do not yet have enough readers or page rank to interest the bigger blogs.
Talk to other bloggers who are in the same position as you right now and develop a lasting relationship. You link to them, they link to you and as both of your blogs grow those links will pay off for you.
Many people find a blog they like, then will take suggestions from that blog about other blogs they might like. So someone goes to a blog you have traded links with and likes them, then they follow your link and if your content is good, they add you to their reading list. The same happens in reverse for the one you link back to.
Sooner than you think both of your blogs will become ones that a circle of people read. The more blogs you do this with, the more your circle will eventually grow.
Dont be too concerned with page rank. Many of the established blogs with good page rank are not going to link to...