6 Reasons Why Successful Entrepreneurs Need to Be on LinkedIn

When most people think of LinkedIn, they still associate it only with job hunting or recruiting, but it has evolved into so much more.

It has transformed into an engaging platform where professionals can build their personal brands, businesses can grow their visibility, and thought leaders can share industry insights and network with other professionals.

The LinkedIn of today is about community.

As of this writing, LinkedIn has more than a billion users and more than 300 million active users monthly. Yet only about 3 million of them post content weekly. This means that less than 1% of LinkedIn's active users are actively posting content.

This creates a wide-open field for those ready to share their knowledge and engage with their audience and an incredible opportunity for professionals to stand out.

1. LinkedIn is a networking goldmine

Whether you're connecting with like-minded individuals, potential clients or industry leaders, LinkedIn allows you to build relationships that can lead to collaboration, partnerships and business opportunities.

The key is to go beyond simply sending connection requests. Take time to (thoughtfully) engage in the comment section of other people's posts and participate in meaningful discussions. This way, when you do reach out, they already "know you."

They will recognize your name, and you have already had conversations. You can then reach out with a connection request and continue the conversation in the dm's (direct messaging). From there, schedule a virtual coffee for face-to-face conversations and watch how your relationships grow.

Related: How to Optimize Your LinkedIn Profile in 6 Easy Steps

2. Real relationships are built on LinkedIn

I recently attended an out-of-town event because of the connections I made on LinkedIn. The event organizers were putting together a panel of LinkedIn Experts. I had been following them and having conversations with them, and now, I had the opportunity to meet them — and many more of my other LinkedIn connections — in real life for the first time. I was meeting them for the first time, yet I already knew them.

Attending the event solidified the relationships and led to collaboration opportunities. I don't know of any other platform where people take the time to really get to know each other and support each other as they do on LinkedIn.

3. LinkedIn acts as your Personal Brand HQ

LinkedIn is the perfect place to highlight who you are, what you do — and why it matters. By sharing posts, articles and videos and engaging in the comments, you can showcase your expertise and build your authority and credibility in your niche. This leads to conversations, inbound leads and tremendous opportunities for recommendations and referrals.

Most professionals are uncomfortable promoting themselves as it feels boastful, so recommendations and endorsements can help create a full picture of your expertise.

LinkedIn has a dedicated Recommendations section. Use it to freely share recommendations, highlight the work of others and ask for them as well. It is a perfect opportunity to let your achievements speak for themselves.

This is particularly important for freelancers, consultants and service providers, as potential clients can see exactly how you've helped others succeed.

Related: Is LinkedIn's 'Open to Work' Banner 'Desperate'? New Debate

4. A platform for thought leadership

LinkedIn has become a key platform for thought leaders — professionals across various industries sharing their insights and perspectives.

By consistently sharing content — whether articles, videos, simple posts or carousels — you can establish yourself as a thought leader and build an engaged audience that seeks your advice and expertise. Since only a small percentage of LinkedIn users regularly post, there is a significant opportunity for those willing to share their insights.

5. A business directory

LinkedIn is like Wikipedia for business professionals. It's where people learn about others and decide whether this is someone they want to do business with.

For entrepreneurs, LinkedIn is a powerful platform to position their offerings to the right audience, whether they're looking for strategic partners or clients/customers. It works for both B2B and B2C businesses, allowing them to network and connect with their ideal audience organically.

6. LinkedIn is a resource for learning and professional development

With LinkedIn Learning, you can access thousands of video courses covering topics from business and leadership to personal development and creative skills like video editing (LinkedIn is heavily promoting its new video feature).

In addition to the courses, you can learn a lot directly from industry experts who regularly post content. They share valuable insights, actionable tips and lessons learned from real-world experiences.

As a caveat, even though LinkedIn has evolved into a powerful platform for networking, personal branding, thought leadership, business development and learning, it remains one of the best tools for job seekers. You can connect with industry experts who provide tips on resume writing, navigating the hidden job market and interview preparation. Plus, you may discover someone connected to the company you want to apply to, offering valuable insights or even a referral.

Invest a little time on LinkedIn daily as part of your networking and personal brand growth strategy. You will find that the power of LinkedIn lies in its ability to connect, elevate and educate.

When you actively post content on LinkedIn, you begin building a community of supportive people who 'know, like, and trust' you. You position yourself to be discovered by potential clients, partners and other skilled professionals who are seeking what you and your business have to offer. These are the same people who refer you and talk about you when you are not in the room.