The Genius of Venture Capital (Part 3): Use LinkedIn to Build Your Network

Authors of a recent Harvard Business Review article surveyed more than 900 VC respondents on a variety of topics, including deal flow. According to the survey respondents, the best deals come from their network, which includes other investors, former colleagues, successful entrepreneurs, and university professors.

If you are not connected to such a network, this post is for you.

No database will provide you with an instant network. Googling for such databases will not help. HOWEVER, Googling CAN help you begin the arduous process of building your venture capital network.

Some people are naturally gifted in building and maintaining networks. For those of us who are network challenged, here are some tips to get you started …

TIP #1: You may already have a network and you just don’t know it.

You have colleagues, past and present, who may not know you are interested in entrepreneurship, whether you are an investor looking for good ideas, or someone with a good idea looking for capital. LinkedIn (www.linkedin.com) can help you connect with these people. Ask them for advice on who they might know who can help with ideas and funding.

You might try a similar approach with college professors you may have studied under, or alumni you have studied with.

Some will not respond, but you might be surprised at how many will offer suggestions.

TIP #2: When someone offers a suggestion, thank the source, then follow up … on every suggestion. Do the work. It may take time, but eventually you will find the one connection that makes it all worthwhile.

TIP #3: Get more out of LinkedIn. Try these Google® search phrases …
Google®: linkedin venture capital
Google®: linkedin deal flow
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Google® Better!
Jean Steinhardt served as Librarian, Aramco Services, Engineering Division, for 13 years. He now heads Jean Steinhardt Consulting LLC, producing the same high quality research that he performed for Aramco.

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