Startups are blessed with high octane idea. On the flip side they are expected to drive on the pot ridden runway before they could fly beginning with incubating the idea, prototyping, financing, getting the first customer and building the organization. Getting the right people on board on time is the SECRET SAUCE to address those challenges. And your astute LinkedIn Strategy can help you accomplish that.
Having said that my recommendations would be to join an INCUBATOR or ACCELERATOR and adopt 80/20 approach. Spend 80% of your time on your core competencies and 20% on attracting the right talent and investment. Utilize the power of incubator/accelerator eco-systems and stickiness of astute LinkedIn strategy (WOM) to attract Talent. My recommendations for LinkedIn Strategy are
- EDUCATION: “Your network is your net worth” is not a fallacy. Move on to Education feature in LinkedIn and reach out to your Alumni. Your school and University friends are the most powerful influencers and connections to help you promote your startups. Research and identify potential co-founder (Sales/marketing/finance/operations/technology/advisers) among them. If not; Work out a revenue sharing model for your Alumni’s. Remember Alumni’s are your warm connections that are easier to convert into Hot connections.
- COMPANIES: Short list 25 startup companies on your list of most admired companies and tap into their Talent pool. Work on your pitch to encourage them to jump the fence.
- GROUPS: You can join up to “50” groups and do so in the following sequence.
JOIN “10” Groups as follows:
2 x Top VC Group I Objective are connect I Funding I Participate actively in Q & A.
2 x Startup Groups I Objective are Connect I Talent Acquisition I Identify founding Partners or partnerships I Lessons from the ongoing discussions.
2 x Sales Groups I Objective are Sales Talent Acquisition for founding Sales head I Participate actively in Q & A
2 x Local HR Groups I Objective is Talent acquisition for other operational areas.
2 x CEO’s Group I Objectives are finding Mentor and Lessons from the ongoing discussions I Participate actively in Q & A
JOIN 35 more GROUPs: Join 35 Top membership Groups (Highest membership) from other industry and professions. Objective is to build connections/network and WOM (word of mouth) publicity.
CREATE 1 GROUP (This Group is your Mouth piece) for your product and services and work on building a membership of not less 1000 in the next 90 days. Plan to increase membership month on Month. Email a weekly newsletter with industry relevant information and objective is to establish an expert status and also connect with potential customers.
My message is “Breadth and depth of your Network determines the measure of your Success.” Hence build on your virtual connections and convert 3% – 4% of your virtual connections into face to face or skype discussions. Good luck on your next Startups.