I already include the social networking links at the end of blog posts to encourage social bookmarking. Would it be a good idea to include the social networking links on the homepage, to encourage the homepage getting shared on the web?
Post "Follow me on" Facebook, Myspace, Twitter, etc. That should help you increase your friends base.
I think you misunderstood what I asked. I am specifically referring to social networking links on the HOMEPAGE.
I don't see problem with that. I suggest you place the link in a strategic spot. Put it in the center or right part of page to make it more noticeable.
I appreciate to put social networking button at the end of each post will help you to bookmarked specific topic and increase visitors on particular post.