I recently attended a business lunch in which a panel of VC/PE guys were discussing some of the criteria they use when deciding to invest in a company; listening to them, one remark really stuck out: “we pay equal attention to the team, and the product”. As the CFO of an early stage HCIT company, that comment resonated with me, and was the catalyst for today’s topic.
It’s difficult for any of us to debate the value and impact of LinkedIn (disclaimer – I am a shareholder…). It’s the only professional social network, it’s got a very clear value proposition to a wide array of customers, and it has a pricing model that fits all shapes and sizes. Somehow, LinkedIn has managed to take one “raw material” (essentially, your resume) and create many different “finished products” from it.
I’m not here to ask you whether LinkedIn is part of your investment portfolio – I am here to ask a different question about LinkedIn and your team… Should the Company influence how the team members represent themselves (and therefore the Company) on LinkedIn?
Here is why I think this is an important consideration – especially for a start-up or early stage venture:
Before declaring my hypothesis valid, I polled a broad spectrum of colleagues, and considered this from every possible angle. Where I settled is that the Company should have a place in shaping the profiles of it’s team members. Here’s how to do it in a way that makes the most of the opportunity, and helps everyone feel great about participating:
This approach offers investors, prospective customers, or anyone interested in you or your company valuable insight into the organization and how it works. They can see exactly who makes what happen, how they have successfully executed before, and the teams they have previously been a part of. Embrace this approach of maximizing the value of LinkedIn, and you will have taken a big positive step toward presenting your company AND your team to the world in a progressive and logical manner.