NOW is the perfect time to ramp up your deal origination activity…
So today, I want to discuss leveraging LinkedIn as the top-performing social media platform for deal origination.
Facebook is more a platform for socializing… Twitter is for sharing your thoughts… Instagram is for photos…
But LinkedIn is used for business.
Finding a new job… prospecting for customers… finding new suppliers, advisers and partners…
And originating DEALS.
If you are not on LinkedIn, set up a profile today. It’s completely free to use and will allow you to build up a healthy digital network you can leverage into deal origination and closing.
To get you started, here are SIX quick tips to set up the perfect profile — or spruce up your existing profile to make you more appealing to potential sellers and advisers:
- Label yourself as an investor.
- Emphasize your experience and expertise as it relates to your sector of choice (make sure it’s up to date, with no gaps).
- Choose a professional profile picture (you need to look trustworthy, credible and assured).
- Seek recommendations from your network to lift your credibility to another level.
- Get 500 connections as soon as you can.
- Follow up.
Now let’s take a look at each one…
Label yourself as an investor
Note the headline describing him. Three very powerful statements there.
First, that he is an investor and business buyer. It’s very important to state exactly who you are (or who you aspire to be).
Second, his brilliant use of the word “ethical.” He’s already seeding his position as a trusted, credible, safe pair of hands before he has spoken to a single seller.
Third, he’s targeting long-established businesses to GROW.
With all three of these statements, he’s entering the conversation in the seller’s mind. Remember — 79% of sellers want someone who will protect the legacy of the business, the brand and the employees… someone who will take the business to the next level.
Emphasize your experience and expertise
The dealmaker in the example above doesn’t do this because he’s already acquired multiple businesses, created his deal team and can effectively buy in any sector. You need several deals under your belt before you can become sector-agnostic.
For your first deal, make sure your history, skills and experiences match the sector in which you want to acquire. Then make sure your profile highlights your relevant experience.
Finally, make sure your work history is up to date, with no gaps. If you have gaps in your résumé, list these as sabbaticals. Business owners will be jealous and admire you, as it’s highly unlikely they’ve ever taken a leave of absence from their businesses.
Choose a professional profile picture
It is critical that the first impression the seller has of you is one of confidence, professionalism and credibility, so make sure you have a great-quality profile picture. Don’t use the one of you at the bar on your last vacation doing Jägerbombs.
Invest in a photographer if you can. As soon as the seller sees your picture, they will subconsciously ask themselves, “Would I trust this person to take over my business?” You want your picture to project a resounding YES.
Wear a crisp shirt or blouse with an easy, confident smile and radiate experience and professionalism.
Just like this guy:
Seek recommendations from your network
This is the most powerful feature of LinkedIn. It allows you to build a network and have your peers leave recommendations for you. It’s super quick and easy to do directly on the platform.
It’s all about social proof. People endorsing you is so powerful — especially when they acknowledge the skills and experiences you have that tie directly to the type of business you want to buy and own in the sector that fits you the best.
I have a TON of recommendations on my profile. Here’s just one…
Stack a few of these up on your profile and take your credibility to the next level!
Get 500 connections as soon as you can
Whether you have 501 connections or 3,000 (like me), LinkedIn displays 500+ as your number of connections.
That means you are a serious player.
LinkedIn will automatically scour your inbox and invite everyone you know on email. But you can also proactively go out and target people to build up your network.
From my experience, one in three people will accept quickly. So if you invite 30 people a day while drinking your morning coffee, you will build your network by at least 10 new contacts per day.
Once you make a new connection, follow up within 48 hours. Send the new contact a quick email. Build rapport.
Tell them who you are and why you connected with them (whatever that reason is), and then suggest a quick 10-minute call to introduce yourself.
Then you can build MASSIVE rapport.
Leverage all six of these tips, get your LinkedIn profile in a peak state and let it drive deal flow for you.
And if you’re already using LinkedIn and seeing great results, I would love to know what’s working for you. Hit reply and tell me.
Until next time, bye for now.
Editor and co-founder, Dealmaker Wealth Society
P.S. One more thing — don’t forget to add Dealmaker Wealth Society to your network on LinkedIn and look for other dealmakers you can connect to for advice… support… even deal origination.