In my leisure time, I climb mountains. In my professional life as a lawyer, I guide businesses through the risks of competition regulation. In both situations, the principal objective is victory and receiving an award; in respect of businesses, it is to achieve overall success. At first sight, economic competition is about individual success and the defeat of competitors. However, in reality, the regulation of competition is about intelligent cooperation and good relations with partners. Businesses that play smart may summit their own peaks and become Leopards in their respective markets.

6 steps to turn your business into a Leopard

1. Don’t be afraid to set your goals ambitiously high. Choose to be a leopard in your field, and nothing less than that. Be ready to work hard for it, to train, and to get experience progressively. To achieve your goal, you have to sacrifice something. There is no shortcut to the ultimate summit. Don’t get seduced by quick and temporary wins such as cartel agreements that temporarily bring you profit: they can easily break your neck.
2. Make good partnerships. And play fair. People make a difference no matter whether you are working with them or climbing with them. The more ambitious the project you have in your mind, the more relevant this becomes. You need good business partners and strong relationships if you want to sell your product or services. You can hardly succeed on a hard climb alone.
3.  Think with a wider perspective. Take a view of your business, as if you were observing your position from a 7000m summit. You can suddenly see much more than from the base camp. You may even see over the horizon. Also imagine the options you have on your way up to the summit. Devise a good strategy considering the full extent of possible circumstances, regulatory limits and development, and choose the right path.
4.  Act diligently but have safeguards. A climber never goes up without good equipment; similarly, you have to equip your business with solid compliance programs. Competition experts can throw you a safe rope if you get into trouble, but don’t rely on that. Taking precautions and good advance preparation for all eventualities makes a difference if anything goes wrong.
5.  Innovate your processes. Becoming a Leopard is more of a process than a destination to reach. Climbing five mountains means multiplying the experience by five, or even more. You learn that doing things one way does not work. The circumstances are never the same. So, keep reinventing yourself, revise your business models, and adjust them to the changing circumstances on the market.
6.  Be patient. Remember, you don’t have to reach the summit every time you try. Sometimes, it is surprisingly easy, and sometimes you fail. Just keep trying and don’t give up. Maybe the circumstances will change, the regulatory environment will change, you will find a better partner or just apply your expertise.

Climbing is my passion!

I climb high mountains and I want to become a Snow Leopard and get the prestigious medal awarded to those who have climbed the five peaks of over 7000m in the former Soviet Union. As you can imagine, there is a lot of effort needed for this project and some exposure to risks. So why do I do this? Because by climbing I learn a lesson and improve my qualities that are highly relevant to business. It is not just about achieving goals, but also about team cooperation, organisational skills, perseverance, patience, thinking in terms of the big picture and certainly in acting prudently. Up there, you step out of your comfort zone and that is where the fun begins. I’d like to share a few points I’ve learned from this exciting exercise.

Becoming a Leopard for me is more of a process than a destination to reach. Climbing five mountains means multiplying the experience by five, or even more. You learn that doing things one way does not work. The circumstances are never the same. So, keep reinventing yourself, revise your business models, and adjust them to the changing circumstances on the market.

One peak is missing for me to become a Snow Leopard and to complete this challenge. I will have to test myself again and it will not be easy. For me the final award is not about a simple tick in a box, but about becoming better, applying inner strength and eventually fulfilling my dreams that might inspire others. If you feel like you are inspired by these thoughts, get in touch – our Deloitte team is equipped with full competition expertise and is here to help you with transformation of your firm into a Leopard in your market.