This is how you can get the most out of LinkedIn for Business Development in just three easy steps … and in about 10 minutes!
Step 1: You want to develop the right partnerships and connections to grow and expand your business.
This is for you, for example, when you have a brilliant “win-win” partnership idea, but no contact at the other organization.
How to use LinkedIn to help:
1. Do a People Search to quickly find the right person at the company and determine who you know in common for a warm Introduction. If this isn’t possible, you also have the option to reach out directly via an InMail.
2. While reading an article on partner sites (such as Business Week, CIO, etc.) you can immediately see how your network can help you get access to that company to discuss an opportunity using Company Insider.
3. Try it and click the icon to see who you’re connected to at LinkedIn.
4. Viewing your counterpart’s profile can help bridge the gap by providing mutual contacts, background, recommendations, etc.
Step 2: Frequently there is only imperfect information in evaluating or negotiating a deal.
For example, this would be the case of a profit sharing arrangement that is the first of its kind for your company and rare in your industry, but is common in other verticals.
How LinkedIn helps you:
- Use search to find relevant contacts who have had past experience in a similar type of arrangement and ask for advice or a consulting arrangement to provide the needed perspective.
- Leverage Company Pages to get deeper information on who works at the company, their background, and other key statistics.
Step 3: Across a wide-range of industries it can be difficult to have a full knowledge base of the right companies to partner and work with.
This would be the case, for example, for a music company finds the need to partner with a boutique hotel chain but doesn’t have any relevant knowledge or contacts.
How LinkedIn helps you:
- Leverage Answers to find suggestions on the right people and companies to work with given your strategic goals.
- Utilize Keyword Search to discover the companies that you have the closet connections to in the desired space.