“The 7 Essentials Scorecard provides an executive team with a key set of insights, which become the basis for an organization's strategy and framework, to sustain exponential growth.”
-- Brett Caine,
Senior Vice President and General Manager, Online Services Division, Citrix Systems, Inc.
We keep score in business. We budget, perform management appraisals and keep track of a company's market value and share price. What tool is there to track how management teams are utilizing the essentials to achieve exponential growth? I couldn't find one.
The approach we used was to utilize the approach of personal 360 feedback tools. If you have ever taken a personal 360 feedback assessment, you will recognize the process. Personal feedback tools measure the type and diversity of perceptions across a variety of associates from superiors, peers and subordinates. The 7 EssentialsSM Scorecard is a first company-wide 360 feedback tool - not about you but about the company and how it performs against the success pattern of America's highest growth companies.
Clearly, companies that achieved exponential growth to a billion and beyond have utilized 5 or more of these 7 Essentials to achieve compounding revenue growth and returns. This scorecard uniquely measures your company's progress to outperform against all of the 7 Essentials.
The 7 EssentialsSM Scorecard can be utilized by individuals, management teams and across portfolios of companies. It can be applied to standalone companies, business units of large corporations and private companies. For venture capital funds or corporate business development officers, the Portfolio Heat Map summarizes the 7 Essentials Scores for all of the companies or business units in the portfolio. All of the above enables teams and portfolio leaders the opportunity to target actions to close the gap on any one or more of the essentials!
The latest research is identifying an "8th Essential": Invest in Infrastructure. Leaders of high growth companies balanced delivering positive cash flow with investing in infrastructure. Investing in systems, processes and people to achieve consistent exponential growth is a unique management technique. I call this one of the "Leading Forward" techniques which will be in my next book. We have enhanced the scorecard to measure this new essential.
The 7 EssentialsSM Scorecard is a tool that is meant to be integrated into your company's management approach. It is a tool that is also utilized within the 7 EssentialsSM workshops and Business Advisory services provided by David Thomson.