The Power of Competence: Lessons from Everyday Excellence

Have you seen Tom Cruise’s breathtaking stunt at the closing ceremony of the Paris 2024 Olympics yesterday? Don’t you think that his daring leap from the Stade de France roof to a motorcycle ride meant more than just a transition from Paris to Los Angeles for the 2028 Games? Personally, it got me all pumped up, remembering those moments from my life that create lasting impressions.

And so today, I want to dedicate this blog to competence—competence as a way of achievement, as a means of creating something lasting and beneficial for others.

Did you know that the root of the word “competence” is connected to rivalry (based on ‘compete’)? It signifies "an adequate range of capacity or ability, sufficient to deal with what is at hand." I had never considered this aspect of the word before.

In my research from sources like Gallup, The Harvard Business Review, and Forbes, I found some compelling insights. For example, an older study from 1993 by Campbell, McCloy, Oppler, & Sager titled "A Theory of Performance" identified that competence-related factors account for a substantial portion of job performance variance, highlighting the importance of developing relevant skills and abilities. That’s impressive, but how applicable are these findings for you, me, and the rest of the managers?

And so I propose a question: What truly lies behind competence and leadership?

Look around at your employees or even your rivals. Who are the truly competent ones? Is it the ones who need a gallon of coffee just to make it through the day? The ones who clock in and out simply because that’s what their contract says? Or is it the individuals who love what they do and are passionate about their work? As Steve Jobs said, “The only way to do great work is to love what you do.” I love that quote.

Let’s explore how true this statement is. I encourage you to observe your surroundings today. Simply observe and let the information sink in before answering this question: What lies behind competence? Is it the drive to "be better than others," the desire for a bonus, or the need to "prove you were right"? What makes the receptionist who effortlessly connects calls while being polite, or the executive closing a million-dollar deal over a game of golf, stand out? And remember, there’s no job too small if it’s done with competence.

So, I challenge you: take a moment to visit a busy place like a post office or a bank, sit in the lobby, and observe the competent people around you. I wonder if your findings will align with mine. From experience, I know I do rely on my competent team. Where would I be without my assistant, my Executive Board, and my entire team that keeps everything running smoothly every day? Could I be competent as I am without my team?

I’d love to hear your observations. Share your outcomes, and we can compare. As Warren Buffett says, “It takes 20 years to build a reputation and five minutes to ruin it.” If you think about that, how differently would you approach competence? 

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About PhilanthroInvestors

PhilanthroInvestors combines traditional venture capital financing tools with philanthropic principles to achieve social impact. By secure, meaningful, and profitable investments, they bring capital and also change people’s lives.

PhilanthroInvestors are currently working in four sectors – Housing, Water, Health and Environment – and will be adding more investment sectors in the future. PhilanthroInvestors founder Ivan Anz owns companies on three continents and has investors in 14 countries.

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