Learning From LinkedIn

Learning From LinkedIn

Not long ago did this company start off like any other, with bottlenecks and struggle, has today become not just a knockout success but also a global phenomenon in itself. LinkedIn story has of late been a subject of study for business students across the globe and of course the curious entrepreneur who is keen to draw a lesson or two from LinkedIn’s success. Here is an overview of how LinkedIn made it big, that big.

LinkedIn started in 2002, the age of MySpace and Friendster. The next big thing, Facebook had also entered the scene and was making in-roads real quick. Yet another social networking site would have more or less ended as an also-ran. But LinkedIn’s vision was clear, they were looking at being more than just cool-place-to-be, LinkedIn was being launched as the big network for jobs. The vision was huge, being established as the resource hub of years of professional network of working professionals.

In the initial few years, the founders of LinkedIn moved very cautiously to ensure that the system worked. For the system to work, like any other social networking site, ‘critical mass’ was needed. The first million users were the toughest. Until then, LinkedIn was not even working on a revenue model. And once the critical mass was in place, a lot of moneymaking options opened up for LinkedIn. LinkedIn jobs, LinkedInsight, subscription program and of course advertising made for LinkedIn’s revenue stream. A revenue stream, as different and as robust as LinkedIn’s, could only create the history LinkedIn’s created.

LinkedIn started off as a social network for professionals, allowing them to host their resumes online. These professionals were keen on job opportunities and have professional recommendations from their contacts. But it has eventually evolved as a professional contact relationship management for individuals. This is the mammoth of a change or differential advantage LinkedIn has achieved which makes it the success story it is today.