Choosing Your Business Structure: Types and Use Cases
Different businesses require different business structures. Explore different types and identify the best structure for your next business venture.
April 11, 2022
Article
Entrepreneurship is an exciting journey. Whether you're an aspiring entrepreneur, in the initial stages of setting up your startup, or already running a business and looking for ways to scale and grow, our resources are designed to equip you for each step.
Learn more about entrepreneurship
University of Pennsylvania
Skills you'll gain: Entrepreneurship, Strategy, Leadership and Management, Strategy and Operations, Planning, Business Development, Business Analysis, Entrepreneurial Finance, Innovation, Finance, Financial Management, Market Research, Business Design, Critical Thinking, Product Strategy, Business Process Management, Business Psychology, Decision Making, Financial Accounting, Financial Analysis, Marketing, Accounting, Investment Management, User Research, Collaboration
Beginner · Specialization · 3 - 6 Months
Universitat de Barcelona
Skills you'll gain: Business Analysis, Business Development, Entrepreneurship, Leadership and Management, Business Intelligence, Entrepreneurial Finance, Market Research, Organizational Development, Planning, Accounting
Beginner · Course · 1 - 3 Months
University of Pennsylvania
Skills you'll gain: Entrepreneurship, Planning, Strategy, Business Analysis, Business Design, Critical Thinking, Innovation, Market Research, Product Strategy, User Research
Mixed · Course · 1 - 3 Months
The entrepreneurial journey is a quest filled with risks, rewards, and endless possibilities. Here, we provide comprehensive insights on everything you need to know across several topics, including:
Entrepreneurship isn't just a trendy buzzword - it's a powerful force for innovation that is changing our world and creating new business opportunities every day. Entrepreneurs create new businesses, whether it's inventing new products, offering new types of services, or simply developing new processes for connecting existing goods and services to markets.
Today, we often associate entrepreneurship with the tech industry and venture capital-backed startups like Facebook and Tesla (and their superstar founders Mark Zuckerberg and Elon Musk). However, this skill can be relevant regardless of your career path; social entrepreneurship is essential for non-profit founders, corporate entrepreneurship can help drive innovation and spin-off divisions from within established multinational giants, and everyday small business owners can take their company to the next level with entrepreneurial skills.
There are several job opportunities available for individuals with Small Business skills. Some of the potential job roles include:
Small Business Owner/Entrepreneur: With Small Business skills, you can start your own venture and become a small business owner or entrepreneur. This allows you to build and manage your own business, taking charge of all aspects such as planning, marketing, finance, and operations.
Business Consultant: Many companies, especially small businesses, often seek assistance from business consultants to help them improve their operations and overcome challenges. With Small Business skills, you can become a business consultant and offer your expertise and advice to companies in need.
Sales Representative: Small businesses often require skilled sales representatives to promote and sell their products or services. With Small Business skills, you can work as a sales representative and help small businesses increase their sales and expand their customer base.
Business Development Manager: Small businesses constantly need to identify new opportunities, partnerships, and strategies for growth. As a business development manager, you can utilize your Small Business skills to analyze market trends, identify potential clients, and develop business strategies for small businesses.
Administrative or Operations Manager: Small businesses require efficient administrative and operations systems to function effectively. With Small Business skills, you can work as an administrative or operations manager, overseeing day-to-day operations, managing budgets, and ensuring smooth workflow within the organization.
Marketing Coordinator: Marketing plays a vital role in the success of any business, including small businesses. As a marketing coordinator, you can utilize your Small Business skills to create and implement marketing campaigns, manage social media platforms, and develop strategies to attract customers for small businesses.
Financial Analyst: Small businesses often require financial analysts to help them manage their budgets, analyze financial data, and make informed decisions regarding investments and profitability. With Small Business skills, you can work as a financial analyst and assist small businesses in achieving financial stability and growth.
These are just a few examples of the job opportunities that can be pursued with Small Business skills. The possibilities are vast, and it depends on your specific interests, experience, and the industry you wish to work in.
There are several topics related to Small Business that you can study. Some of them include:
Entrepreneurship: This topic covers various aspects of starting, managing, and growing a small business. You can learn about developing a business idea, creating a business plan, marketing strategies, financial management, and more.
Business Management: This topic focuses on the fundamental principles of managing a small business. You can learn about organizational structure, leadership, decision-making, operations management, and effective communication within a business.
Marketing and Advertising: Understanding marketing techniques and advertising strategies is crucial for small business success. You can study topics like market research, consumer behavior, branding, digital marketing, social media marketing, and public relations.
Accounting and Finance: Small business owners need to have a grasp on financial management to ensure profitability and sustainability. You can study topics such as basic accounting principles, financial statements, cash flow management, budgeting, taxation, and financial analysis.
Sales and Customer Service: Mastering sales and providing excellent customer service are essential skills for small business owners. You can study techniques for effective selling, customer relationship management, understanding customer needs, and delivering exceptional customer experiences.
Remember, these topics are just a starting point, and there are further subtopics and niche areas you can explore within each of them. Online platforms, such as Coursera, Udemy, or LinkedIn Learning, offer a wide range of courses and resources on these subjects to help you gain knowledge and skills related to small business.