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How to Make More Money Using LinkedIn

Get a better job or more customers by unleashing the power of LinkedIn!

By
Laura Adams, MBA,
July 12, 2011
Episode #226

 

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Social networking sites like Facebook and Twitter are fantastic tools for having fun and staying connected with the people and organizations that are important to you. But when it comes to turning your time on a social network into cold, hard, cash, LinkedIn blows the other sites away. I’ll tell you how to leverage the power of LinkedIn so you make connections with the right people and make more money in your job or business.

What is LinkedIn?

You’re probably familiar with LinkedIn and may have already set up your user profile. LinkedIn has been around since 2003, has over 100 million users, and recently had a very successful public outing under the New York Stock Exchange symbol LNKD. It’s very different from other popular social sites because it focuses solely on business and professional networking. I know that doesn’t sound as exciting as uploading party pictures or playing games—but once you understand how profitable LinkedIn can be, you’ll want to dig into it and learn more!

Who Uses LinkedIn?

LinkedIn isn’t nearly as big as Facebook, but its power comes from the kind of people who use it. According to LinkedIn, their members are affluent decision-makers, and include executives from all 2010 Fortune 500 companies! In other words, the people you can connect with on LinkedIn are typically successful and they are on the site with business in mind—which could translate into you getting a better-paying job or finding more potential customers for your company.

Why You Need a Professional Network on LinkedIn

Even if you have a good job and feel confident about your current work situation, don’t dismiss what LinkedIn can do for you. When it comes to networking, the whole point is to have a network in place for when you need it—so if you lose your job, you won’t have to scramble around and burn precious time trying to find connections. I can guarantee you that the people with the largest circle of professional contacts and friends are the ones who reach out to others long before they need something from them.

Having a professional network is like an insurance policy in that regard, and the best part is that it’s never been easier to stay in touch with people. Additionally, if you’re a wallflower or just hate in-person networking events, LinkedIn makes it really easy to connect. Now, I’m not advocating that you replace face-to-face contacts with sitting behind a computer screen—but there’s no denying that online networking is a powerful tool to increase the number of people who can lead you to new opportunities. So, build the relationships today that you might need tomorrow.

How to Find a Job Using LinkedIn

When it comes to networking, the whole point is to have a network in place for when you need it.

Even if you never get a pink slip at work, LinkedIn can be the ticket to finding the job you’ve always wanted. The more people you connect with in your industry, the more opportunities will come your way. You’ll find out when there’s a job opening at a competitor, for instance, or which companies seem to be recruiting the best people. LinkedIn is a great place to get the scoop on where previous colleagues are now working. Perhaps their company is hiring and they can put in a good word for you.

LinkedIn has a job search engine where you can find or post listings. You can also search for specific “Company Profiles” to learn more about them and see if they’re hiring. If there’s a company you want to work for, use LinkedIn to find out if anyone in your network knows someone who works there. If you don’t have an inside connection, you can reach out to a contact who works there and who might take your resume to the hiring manager or slip you the manager’s contact information.

Here’s a quick and dirty tip: If you find a job and you’re just one or two connections away from the person who posted the job, you’ve got a great opportunity to get in front of that company’s hiring manager.

How to Increase Business Using LinkedIn

Now let’s talk about what LinkedIn can do for you if you have a business or want to become self-employed. As I mentioned, you can create a company profile in addition to your personal profile. A great feature on LinkedIn is having the ability to post recommendations from previous colleagues or customers—and we all know the power of third party endorsements.

You can build your brand or start engaging with a community of like-minded people by creating a LinkedIn Group. Anyone who joins your group is a potential customer who you can contact directly by email on a regular basis. It’s a great way to send traffic to your web site or sales page. I recently started the Money Girl Personal Finance Group as a place for members to post money questions, comments, and learn from the ongoing discussion, so be sure to join us. 

Your high school or college probably has its own LinkedIn group that you can join to reconnect with long-lost classmates and friends—and if it doesn’t, you should start one. LinkedIn groups are the perfect place to share news about the products or services your business offers or to post your availability for a new job.

How to Create a LinkedIn Profile

To get the most out of LinkedIn, set up your user profile the right way. You need to upload a good photo of yourself and showcase your accomplishments, experiences, and skills in a well-written format. Once your user profile is picture-perfect you can reach out to friends and business associates by inviting them to connect with you or to join your new group. Then you can post status updates that go out to all your connections.

Learn More About LinkedIn

To learn how to use LinkedIn’s advanced features to power up your career or business, be sure to join me for a free upcoming training webinar with a LinkedIn author and expert. To register for the live event or to get a complimentary replay recording after the training is over, visit SmartMovesToGrowRich.com.

Have you used LinkedIn to find a new job or increase your company’s revenue? Tell us about it in Comments.

Download FREE chapters of Money Girl’s Smart Moves to Grow Rich

If you like these tips, you’ll love my award-winning new book Money Girl’s Smart Moves to Grow Rich. It tells you what you need to know about money without bogging you down with what you don’t. It’s available at your favorite book store in print or as an e-book for your Kindle, Nook, iPad, PC, Mac, or smart phone. We’re even giving away two free chapters from the book for you to sample at SmartMovesToGrowRich.com!

Grammar Girl’s 101 Misused Words You’ll Never Confuse Again

Do you ever mix up “Further” and “Farther”? What about “Supposedly” and “Supposably”? You’re not alone, which is why Mignon Fogarty a.k.a. Grammar Girl, has put together a list of 101 Misused Words You’ll Never Confuse Again. Chock full of memory tricks, famous quotes, and crossword entries—you’ll master these pairs for good! It’s available for download on Amazon, Barnes & Noble and iTunes!

More Resources:
How to Generate More Traffic, Sales & Leads on LinkedIn – free training webinar
LinkedInfluence Social Networking Training
How to Get a Job Using LinkedIn
LinkedIn Learning Center

Image courtesy of LinkedIn
 

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