You might be surprised that this size of business is still categorised as a 'Small Business'. Things begin to become a little more complicated now, and there are some key challenges too.

In this video we look at the essential functions and structures but also some of the challenges in this first part of the small business.

0:00 We continue the Business Structure series, today I'm talking about the small business.
0:35 What is the definition of a small business in the EU?
1:09 What are the main difference when you step up as a small business.
2:20 What does the business operations staffing now look like?
2:30 You may now bring an HR function into the business.
3:13 Finance has to step up and you are likely to hire this function inside the business.
3:55 Your business may now also require a purchasing hire to support the rest of the business.
4:54 In your product unit you may start to introduce an R&D function.
5:15 As you scale into the small business size business you will need to up your legal assistance and coverage.
5:56 Operations now include more logistics as you are scaling, and more system optimisation.
6:48 Challenge 1, staying profitable.
8:23 Challenge 2, not being able to let go and micro managing.
10:43 What is coming up next in part 2?

More challenges of the small business stage of scaling in part 2, make sure you subscribe and hit the bell to be notified when we upload the next video!
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If you missed the other videos in this series go watch them here:
Business Structure And Essential Functions For Micro Businesses | Part 2: Micro Business    • Micro Business Structure & Essential ...  
Business Structure And Essential Functions For Micro Businesses | Part 1: Micro Business    • Scale your Micro Business by understa...  
Business Structure And Essential Functions For Small Businesses Part 2 Solopreneurs    • Understanding The Role Of Business St...  ​
Business Structure And Essential Functions For Small Businesses | Part 1: Solopreneurs    • What Are Business Structures And Esse...  ​

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Today you have been watching Business Structure And Essential Functions For The Small Businesses | Part 1    • Small Business Structure & Essential ...  

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ABOUT ME
Hi! I’m Dr. Tamer Shahin, the Founder & CEO of CEO Entrepreneur, where we help small business owners scale their businesses, without sacrificing their lifestyle, wellbeing, or freedom. I’m also a Serial Entrepreneur, TEDx speaker, Executive Coach, Consultant, Author, Speaker, Investor, and now… I'm a ‘YouTuber.’

I’ve grown several multimilliondollar businesses from scratch. Some of these businesses were massively successful and others turned out to be catastrophic failures! Nonetheless, I picked myself up and learned a lot from all of my extraordinary success and catastrophic adversity.

Now, I’m taking everything I’ve learned and leveraging it to create this YouTube channel and help people like YOU scale your business to astronomical heights. Each week, I’ll be sharing tactics, tips, tools, and insights to help transform you into a “cool as a cucumber” CEO.

*Disclaimer*
Results are not typical nor guaranteed. You are responsible for your own actions and decisions. Neither Tamer Shahin nor CEO Entrepreneur can be held liable for any results you may or may not get as a result of decisions you take during or after watching these videos.

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