I am a big fan of LinkedIn. I have used it for years, but primarily for getting more information about individuals, not companies. It has been my impression that individuals have been much quicker to embrace LinkedIn, which I think is true of most online social networks.
That may be changing, and privately held company Sellers should consider its use. As Doreen Bloch of AxialMarket has noted in this post, there is a huge community of M&A advisors using LinkedIn. She recommends that Buyers harness the power of advance search, and offers some great advice on the kinds of information that can assist in deal origination.
For Sellers, those comments suggest that you consider taking the time to build a bold, professional company profile. While it is not in any way a good substitute for retaining the services of an investment banker or broker when you are attempting to identify potential buyers, it is free, and you control the information that is being provided. You can, among other things, provide a link to your company website, and even stream any blog content you have. And, as is very much the case for individuals who indicate that they are interested in “career opportunities” and/or “job inquiries” without explicitly stating that they are seeking a new job, what can be the harm?
One caveat: Just as including key information may bring your company to the attention of an acquisitive buyer, inaccurate or dated information may lead them to write you off as a potential target. Assign someone in your organization with the responsibility for keeping the information current.