Turnaround Science’s five-point framework and underlying concepts will organize and structure scaling companies for sustainable growth.
The Turnaround Science Growth Framework is developed based on 20 years of impactful work at over 30 companies, ranging from early stage start-ups to Fortune 50 household names, across 8 sectors.
The key to the framework is to either consider all aspects of it or don’t use it at all, as reasoned in the String of Pearls philosophy. Cherry picking information from the framework will likely create a false sense of organizational maturity and will not guarantee sustainable growth outcomes.
The framework will urge senior executives to think objectively and operate in a structured manner as they scale the company. Every scaling company can build a winning System to manage all strategic, operational, and cultural elements using this framework. Considerations that fall outside this framework are:
- Very early stage market validation where the company is not ready to scale its operations
- Financial leverage for operations
- Mergers and acquisitions based on financial considerations
Challenges faced by rapid-growth companies are fairly common. The framework has five broad components. Each component requires deep assessment and problem-solving to ensure that insights and operations align across the board.
The framework has two important properties:
- Symbiotic and interlocked: All five components support each other and the whole is exponentially more valuable than sum of parts. They are not stand-alone topics or pieces of work. Without any one of them, the overall solution is unlikely to be effective.
- Simple and comprehensive: The framework is quite simple and no portion of it should be surprising. All scaling companies or divisions can benefit from it.
The first layer of the framework is highlighted below. Each component below is explored in further detail on related pages.
Accountability to develop and live by a strong culture, which aligns with behaviors expected from employees, sit with senior executives
An objective mindset – in defining and assessing operational behaviors and managing strategic and operational changes via hypothesis-based analyses – is critical for a scaling, fast-growth company.
A cohesive articulation of trade-offs that the company will make to win the market is paramount to develop underlying growth plans
An interwoven set of time-bound initiatives that brings the company closer to achieving its strategy is an essential battle plan to rally all stakeholders
An articulation of all priorities in the strategic plan – that includes scope, desired outcomes, milestones, leading metrics, risks, contingencies, and ownership – is a minimum requirement for operational success.