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In the previous issue of alfaBITS, I mentioned some online networking sites, and how I use them to build my business. It sparked a number of inquires from subscribers of this newsletter, but also from clients and colleagues.

Since I’ve just recently started using Facebook and LinkedIn, I cannot pretend that I’m an expert on the subject, so to provide valuable content to you I searched the Internet for good articles, so read below.

In case you’d like to connect with me and join my online network, please see my LinkedIn and my Facebook profiles.

If you have time to spare, then MySpace, Ryze and Plaxo are just a few more choices for you to consider...

Cheers!

Boris Mahovac R.G.D.

“Ten Ways to Use LinkedIn to Build Your Business”

By Liz Ryan, Business Week Online workplace columnist, Yahoo!Hotjobs Networking Expert, syndicated workplace advice columnist, Author, Speaker

I am interested in the posts I have seen on some of the LinkedIn-related Yahoo Groups that ask how LI can help build your business. I think of LI like my cell phone or my briefcase - it's a tool. I don't look at LI as a specific, revenue-goals-attached money generator. I'm not sure that it was designed to be that. But I definitely think that LinkedIn can be a business-builder if you approach it that way.

Here are ten tips for using LI to build your business.

1. When you have significant news in your business - for instance, a big product launch or a joint venture - use LinkedIn to notify your contacts by way of a profile update. And in your accompanying email message to the network, say "I would love to catch up with you - want to make time for a phone call?" It's that keeping-up process that sparks conversations about opportunities both for you and your contacts. It's in these conversations (which could be done by email, although probably not as well) that ideas will arise about prospective clients, partnerships, and other revenue-generating projects.
2. Use LinkedIn to understand the relationships between people you know and people you want to know. For me, this is the heart of LinkedIn's value - the ability to see at a glance how people you don't know, but would like to, are connected to people who are closer to you. So when you find Mr. Lofty Dude in the LI network and realize that he used to work with your former admin assistant - a data point you almost certainly wouldn't have acquired on your own - you can reach out to the admin and get, not only an introduction, but some intelligence about Mr. Dude's current dealings, needs, and hot buttons.
3. Connect, by all means, with your former colleagues from every company that has ever employed you. There is something about old-workmate ties (unless you, er, aren't the sort that former teammates think of fondly) that can't be duplicated in most relationships of shorter duration. Seek out these old workmates, tell them what you're up to and who you're most interested in meeting, and offer to help them out as well. One good lead would be worth the price of LI membership - oh wait, it's free - or anyway worth the price of your time doing LI searching and connecting.
4. Connect beyond the obvious. Let's say that you would dearly like to work with General Motors, but you can't find anyone at GM who seems especially suitable for contact as you search the LinkedIn database. No problem. Find a current GM vendor or customer in the functional area you're interested in, and reach out to him or her. Is there something of value that you could offer in exchange for the introduction you want? In an ideal world, your sterling qualities and dazzling personality should convince this new acquaintance that introducing her client to you is something of value all by itself. But don't bank on that. Offer to extend an invitation of your own, or design his or her new database, or something.
5. Use the LI database to understand more about your prospects. This is the beauty of LI - what other source will tell you where many or all of the senior execs of your prospect organizations used to work (given that only half a dozen of them have profiles on the company's website)? Let's say that you want to do some work for ABC Company. And lo and behold, half the ABC execs worked for PayPal back in the day and the other half worked for FedEx. Great intelligence! You see that they have a strong Notre Dame alum thing going on, and some connection to Stanford as well. Now you can use your FedEx and PayPal alum contacts, your Notre Dame folks and your Stanford fellows to help you get 'over the wall.'

In the Next Issue: tips 6-10

This article, originally published on The Virtual Handshake Blog, is used here under Creative Commons Attribution License.

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