If you're using LinkedIn for prospecting and to drum up business, one mistake that many of your competitors will be making is to turn their profile into a CV and to keep focusing all the attention on themselves and all the "stuff" they've done in the past instead of what they offer now in the present, and to whom. 

Here are 7 other likely mistakes that you may also be making with your LinkedIn profile, and why they could be losing you connections, sales and referrals....

A. Not mentioning the problems you solve

Are you forgetting to mention the problems you can actually solve for your target market in your online profile?
Your fellow members may actually be in need of your services, but if you don't tell them about the problems, pains or predicaments you fix, how will they know. How can they recommend you if they don't know what it is you actually fix or solve? 

Some of your fellow online members visiting your profile may also be suffering from, or experiencing these problems, pains or frustrations. One of the first things you want a visitor to say when they visit your profile is - "Yup, I know how that feels" or "I know someone who knows how that feels".
People don't want to get to know you, if they don't think you can help them, or if they don't know what it is you do, or don't think you're worth getting to know.

B. Not describing the people you help

Do you actually mention who your clients are, the type of clients, and the criteria you look for in a client, on your profile? The majority of people on forums and social networks are pretty vague in this respect, and then they wonder why they get all sorts of vague introductory emails from people they don't want to communicate with, more importantly, they receive pro-active communications from people who do not have a need for their products or services, and the profile owner reacts negatively of accusing their fellow member of being "spammy". 

You are on a networking platform for god's sake; you are inviting people to contact you. All you have to do is start saying on your profile who are the people you want or need to contact you.

C. Forgetting to mention the solution you offer

It's funny, how many times have you visited a profile....Read about the person, their football team, their partner, children, which sign of the zodiac they are, which car they are like, even which character from the Matrix they are like, (some even do describe the car they are like) but you have no compelling reason or wish to actually contact them, because you don't know what problems they solve or whether they can actually help people like you. You need to discuss what can be achieved if people use your product or service and what things are likely to happen if people engage with you and their problems are solved - create a desire or want for them to communicate with you. People are interested in one thing only - results. Talk about the results you offer.

D. The Reason why

Have you forgotten to remind your fellow online members why your prospects and people you know, are experiencing the problems they are, and why they are stuck with the problems listed in A, and more importantly, not taking advantage of C. By explaining the reason why people experience the problems they do, you are further demonstrating you know your craft, have a thorough knowledge of your subject, and it helps to build to trust and credibility.
You need to explain why the reader might be having problems in your area of expertise, so you can disqualify them from being a potential client or not. Why do you think the same people keep revisiting your profile - they think you can help them, they're not just sure how or why.

E. You

We've touched on this earlier, it's about credibility and positioning you as an expert, not every aspect of your social and personal life to give scam artists and identity thieves everything they need to open a bank account in your name. 

How many business meetings have you gone to, and asked the person sitting opposite you about their dog, or which character of the matrix they are most like. You simply don't do it.

Stay focused on what you talk about regarding yourself; build a profile about you and your achievements, your track record, the people you've helped.
Yes, give an introduction to who you are, but don't dwell on it or make the classic mistake of selfish marketing and do a "me. me. me" talking only about you and not the people you can help.

F. How can they help themselves

Stop going to meetings that lead to nothing. Stop visiting profiles and think oh she's nice, let's have a coffee. You need to describe the basic steps that readers of your profile need to take in order to help themselves (or further qualify or disqualify themselves). People are silently begging to be led, they want a solution, they think you can help (if you've followed steps A-E), but now what? How can you prove you can help them? 

How can you help readers of your profile resolve their problems or at the very least, start making progress to give them confidence that they should in fact be speaking with you, want to meet you, or even engage you to provide a solution.

G. Next step

Ever had loads of people visit your profile that lead to nothing - no 121. No phone call. Not even a personal message to acknowledge they've read your profile and found it interesting. Do you actually tell your prospects what they should do next having read your profile. Remember F above? 

People are silently begging to be led. They need your solution, they're just not convinced you should be the one to provide it - they need convincing, they need Confidence to know you CAN and WILL help them. 

Start building that confidence by leading and demonstrate you can help them. Think. You've explained who you are, what you do, who and how you can help, next step is obvious - Invite them to get in touch and CONTACT YOU. How much money do you think you might have lost, by not implementing any, some or all of the above? It’s time to stop having a wishy washy online profile.
You're running a business for god's sake.
Hope that gets you thinking (and updating your profile.) ;)