Discipline of Competition

LIVEOUTLOUD  South Africa and Mike Eilertsen entered the Sanlam Entrepreneur of the year and Africa SMME competition in 2012

This year has taught me the discipline of competition . . . At school competition is everywhere; in the classroom, on the sports field and in the pecking order!

In the world of business we trade competition with others for a balance sheet model where profit tries to outstrip expenses (often a very difficult task!). Preparing your company for a business competition against other companies like the Sanlam Entrepreneur of the year award brings enormous value and discipline.

It forces you to make decisions in areas where your business is scrappy. You have to be able to articulate your aims and visions. You have to ask yourself what your values are. You have to embrace your failures and enumerate your successes. It imposes a deadline to ‘get things done’.

You are forced to ask yourself some hard questions like  . . .

• Is my business equally balanced in all areas?
• Is it sustainable?
• Do I know the numbers?
• Do I have areas that I would prefer to hide from sight?

The Discipline of Competition is an exercise in accountability – a very healthy exercise for both the private and the public sector. I can highly recommend it for any business owner.