How can you get the most out of your employees? Have them compete and create a prize or outcome that they value and drive them to that goal.

Growing up in a family of three boys, competition was a constant. From seeing how many free throws we could make to who could finish dinner faster, everything and anything could be a competition in our eyes. Sometimes, to the point of boiling over, but mostly friendly! My dad was certainly in the middle of it most times.

Competition is not only beneficial but vital in the business world. Regardless of what industry you’re in, you are always competing against the other guy down the street who offers similar services or products. In a franchise system, this is a huge benefit because we have stores that are competing against one another to drive results – this is always good for the brand. Your employees should always have some sort of competition in mind with other employees – healthy competition can improve productivity. As a leader, it’s important to encourage your employees to compete, to be driven to meet goals, and get results.

As a business owner, you create the competition based on value to you and the business. If you are valuing sales, create a competition behind sales. If you are pushing profit, make a profit competition. This may require that you think outside the box or brainstorm ideas with others whose opinions you value. Figure out what would motivate your employees; maybe an extra PTO day or summer Fridays, where they get to leave the office early, would motivate them. But, without a doubt, creating the competition will bring a new momentum to your business.

Incentives work and competition drives it!