Posted by: waynebreitbarth | September 11, 2010

Wayne’s LinkedIn Tips & Helps Vol 50 (What is your LinkedIn network worth?)

Hello:

SharePost is a company that lets owners of shares in a private company know what the approximate value of the company is based on their experience in valuing similar businesses in the public marketplace as well as other criteria.  In a recent report, they said that LinkedIn is worth $1.3 billion.  I was thinking, well, since at that time there were 60 million users on LinkedIn, then the value to LinkedIn of every user is $21.66.  At $21.66 per connection, my network would be worth $21,000.  As I continue to grow and foster business relationships using LinkedIn, I can confidently tell you that my LinkedIn network is worth a lot more than $21,000 to me. 

I know this is a bit of an “apples-to-oranges” comparison, but it sure makes you step back and think about the ultimate value or price tag you could put on the treasure known as “Your Network of Trusted Professionals,” whether that network is contained in your Rolodex or is part of LinkedIn.  However, I am sure you will agree with me that with LinkedIn, you have a more effective way to leverage that network to get a lot more done.

After that introduction, I bet you can’t wait to start using the information in this 50th edition of my LinkedIn Tips & Helps.  Here goes.

Profile Tips

I have read recently that the HR world is starting to make some pretty positive statements about the validity of the information in people’s profiles on LinkedIn.  What they are saying is that people’s profiles on LinkedIn are more accurate than the information included on their resumes.  This is a result of the fact that there are lots of “eyes” watching and checking this information on a day-to-day basis, whereas no one else looks at the resume which is produced on your computer and sent off to your recipient. Reid Hoffman, president of LinkedIn, confirmed this in comments he made at a recent speaking engagement where he said, “People don’t lie on LinkedIn.” 

What is the moral to the story for all of us?  When hiring, check out people’s profiles, not just their resumes, and be part of the group of people who tell the truth and keep others accountable to the same standards.

Connection Tips

In the latest updates from LinkedIn, they made some great changes to the layout, format and function.  I thought I would highlight one that you don’t want to miss, and that is the “faceted search” capabilities when you use advanced search.

As I have discussed in the past, I do most of my searching using advanced search because I usually want to regionalize the search I am doing since most of my business is in southeastern Wisconsin.  As a reminder, you get to advanced search by clicking the word “advanced,” which is just to the right of the blue magnifying glass on the top right of your toolbar at the top of your LinkedIn screen. This will then take you to the advanced search page, where you can pick from a number of categories of search criteria, such as keywords, title, company, groups, industry, relationships, etc.  Once you have picked some of these and hit the blue Search button on the bottom of the screen, your results will show up as in the past.  What has changed is if you look at the left-hand side of the results screen, just below the criteria, you will see a box labeled “Filter By.”  Below that will be a list of nine categories, which are Current Company, Relationship, Industry, Past Company, School, Groups, Profile Language, When Joined and Location.  Each of these categories has a list of subcategories. You can now see a breakdown of how many people in your search fall into each of these subcategories.  If you then check one of the subcategories, it will re-sort and give you a listing of the people who are part of that subcategory.

You need to try it to really get a feel for the power of this and understand how it will really help you “zero in” on the people you want to try to connect with. Thanks, LinkedIn.  Great enhancement.

Miscellaneous News and Notes–

Some of the other resources I provide are:

•       Customized corporate training classes
•       Keynote and workshop presentations for conventions and association meetings
•       Corporate social media strategy consulting
•       For Sale:  LinkedIn training DVDs for beginners and intermediate users
•       For daily tips, follow me on Twitter at:  http://twitter.com/WayneBreitbarth

Here is my upcoming schedule for teaching/speaking so you can share with friends, relatives and business associates.  Follow link or paste into your browser for additional details and registration information.

Wed Sept 29, 2010 

Wayne’s Power Formula for LinkedIn Success Training for Beginners
                                  M&M Office Interiors; 5:00 PM – 7:30 PM
                                  http://budurl.com/hnfh

Sat Oct 16, 2010 

Wayne’s Power Formula for LinkedIn Success Training for Beginners
                                  M&M Office Interiors; 8:30 AM – 11:00 AM
                                  http://budurl.com/kkat  

Mon Oct 25, 2010 

Wayne’s Intermediate Power Formula for Linkedin Success Training
                                  M&M Office Interiors; 5:00 PM – 7:30 PM
                                  http://budurl.com/xq2a  

Have a great week growing that network.  I bet it is worth more than $21.66 per person to you!

Wayne

Wayne C. Breitbarth

President

M&M Office Interiors, Inc.

W233 N2833 Roundy Circle West Suite 100

Pewaukee, WI  53072

office 262-781-2600

cell 414-313-7785

www.mmoffice.com

www.Linkedin.com/in/waynebreitbarth

http://twitter.com/WayneBreitbarth

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