The revenue pathway is a list of nine things you might focus on in your business in order to facilitate growth. Whether it’s working on the culture of the business or its positioning in the market, there will always be two to three elements that are key to the company achieving its goals. And it’s our job, at Ferarrio Consulting, to help our clients figure out which ones are most important at their respective stage of development. However, as soon as I explain the pathway to a business owner or team, it usually takes no time for them to see where the hard work needs to happen!

Here, I’d like to dig a little deeper into the structure of the business and how getting it right will directly impact its growth.

Where structure sits on the pathway

The structure of a business is its functionality – building a functional structure is about getting the right people doing the rights jobs in the right way – and taking true responsibility for those functions. This makes the business more efficient, energises the staff and therefore facilitates growth in revenues and profit. This, in tandem with a positive culture, will make people feel valued while they’re doing those roles and even more productive.

Why structure impacts growth

Have you got the right people doing the right roles with the right level of responsibility? Is it clear who is responsible for what? Are they being held to account to deliver what they need to do to make sure the business is growing? If the answer to any of these questions is ‘no’, then you have work to do in improving the structure of your business. Reviewing the functionality chart – separate to the organisation chart – and filling in the gaps and getting rid of the duplications means that you are making the most of the skills and energy in the business as well as managing costs more effectively. And remember it’s not about hierarchy – if someone is good at a particular function – let them take responsibility for it. By implementing functionality, a client in New York the tripled their profits in 18 months! Quite simply, the right team doing the right things can deliver more.

If you would like to find out more about where your business needs to focus in order to grow and thrive, I’d love to have a conversation. Drop me a line to have a chat!

Breda