Entrepreneurs : Leveraging on LinkedIn

I consider myself fortunate to have the opportunity to be involved in the startup scene in Southeast Asia as a LinkedIn executive. Just this year, I have seen tremendous growth in capital injection into the region’s startups. One of the highest profile deals is Jack Ma’s Alibaba Group investment in Singapore-based e-commerce company, Lazada Group.

More and more entrepreneurs are choosing Southeast Asia – a region of over 20 million LinkedIn members - as their home. This region is gathering creative minds and go-getters. Beyond fundraising, these movers and shakers are scaling their businesses and creating access into domestic markets or markets beyond their own shores. We have seen many events that help entrepreneurs and startups explore opportunities beyond their borders. Tech in Asia Jakarta 2016 is one of them, where about 240 startups across various industries are exploring opportunities to expand their business in Indonesia.

State of Entrepreneurship in Southeast Asia

Within Southeast Asia, Singapore is home to a significant number of entrepreneurs. Our data shows there are over 45,000 entrepreneurs in the country. In Malaysia and Indonesia, we have 62,000 and 160,000 entrepreneurs respectively. 

I believe these numbers will continue to grow. Local government stakeholders and industry associations in the region have been nurturing and supporting entrepreneurship in a big way. They include Malaysian Global Innovation and Creativity Centre (MaGIC), Action Community for Entrepreneurship (ACE) in Singapore, as well as KADIN (Indonesia Chamber of Commerce).

Entrepreneurs Connect Online to Grow

“Digital economy” is the current buzzword - and it has shaped how economies and businesses are scaling their growth. The real challenge is in the “how”.

We found the following insights intriguing, but certainly not surprising:

●     Entrepreneurs across Indonesia, Malaysia and Singapore are better connected on LinkedIn than the average LinkedIn member.

●     Entrepreneurs are also well connected to other entrepreneurs outside of their home countries. Most notably, the UK, USA and India. Entrepreneurs in Indonesia and Malaysia are also well connected to neighboring entrepreneurs in Singapore. 

Entrepreneurs in Singapore have fully leveraged their online connections to scale their businesses. They are 66 per cent more connected than an average member on LinkedIn and 66 per cent of them have peer to peer international connections with other entrepreneurs. No surprise here as being a relatively small market, business expansion for Singapore companies often means expanding into overseas markets.

In Malaysia, entrepreneurs have 20 per cent more online connections compared to an average member on LinkedIn. They also have a very international outlook like their peers in Singapore - where half of them have international peer to peer connections.

Indonesia paints a different picture. Entrepreneurs in Indonesia also network better than an average member on LinkedIn with 25 per cent more connections. However, unlike their peers from Malaysia and Singapore, only 24 per cent of them are connected to their international peers. A possible reason is entrepreneurs in Indonesia see enough potential and opportunities to scale in their home market.

In a world of startups, professional connections are critical to business growth. LinkedIn provides a platform for entrepreneurs to grow and connect to greater opportunities. To be successful, I recommend entrepreneurs to focus on the three ‘I’s to harness the power of their professional network:

1.    Access Information to stay updated on industry development

2.    Connect to fellow Innovators to create a strong community of like-minded individuals

3.    Build links with Investors to further grow their business

Connecting Entrepreneurs to Opportunities

As businesses become more competitive, entrepreneurs should leverage this powerful network of more than 20 million professionals and co-entrepreneurs that LinkedIn has built in Southeast Asia. I have seen many organizations do this really well. Recently, Ian Ho, Regional Managing Director of Shopee in Malaysia, shared with me that his biggest challenge as he scales his business is talent. He believes in the importance of building a personal brand and employer brand to attract the best talent.

He told me that when he first started out, he used his professional brand to hire his first 20 employees through LinkedIn. As he was seeking managers and leaders to grow the business, he needed to convince them about Shopee’s vision . Once Shopee reaches scale, he continued to reach out to more talent by leveraging on Shopee’s employer brand through company’s page in LinkedIn to continue looking for talent.

Earlier this month, I had an opportunity to meet Danny D. Kosasih, Vice Chairman of Innovation Committee of KADIN in Jakarta. We discussed the state of entrepreneurship in Indonesia. Pak Danny highlighted that by exchanging ideas and knowledge through our global professional network, entrepreneurs are empowered to create products and opportunities and bring them to market. He shared this in his blog post.

Building a Strong Employer Brand

While we all understand the value of a strong employer brand, not all entrepreneurs know where to start. The first step for entrepreneurs is to build their own online professional brand. For startups who want to scale, employer branding is equally critical. Founders of startups need to grow their leadership team as they grow the business. Before talented professionals join a start-up, they need to understand the company culture and how they can contribute to the company.

There are three ways they can build strong employer brand:

1.    Use the platform to connect with potential partners

2.    Create quality content to start a conversation

3.    Launch a LinkedIn career page and engage with employees to promote content

Throughout Southeast Asia, we have many passionate and successful entrepreneurs. Together, we can learn, grow and succeed together. I certainly look forward to continue supporting our entrepreneurs in the region! #ConnectToGrow