Built to Flip

The real question, the essential question is this: Is your company built to work? The answer rests on three criteria: excellence, contribution, and meaning. Again, consider Cardiometrics. The company may not have been built to last, but in all of its activities, it adhered to the highest possible standards: Instead of relying on expedient studies and marketing hype, it conducted rigorous, costly clinical trials in order to demonstrate the value of its technology. And the company clearly made a significant contribution -- to the market, to its investors, and to the lives of patients all over the world. Finally, the people of Cardiometrics found their work to be intrinsically meaningful: They worked with colleagues whom they respected and even loved, and they pursued a worthy aim to the best of their ability. Built to Flip? Built to Last? Cardiometrics embodies neither of these models: It was built to work.

If the new economy is to regain its soul, we need to ask ourselves some tough questions: Are we committed to doing our work with unadulterated excellence, no matter how arduous the task or how long the road? Is our work likely to make a contribution that we can be proud of? Does our work provide us with a sense of purpose and meaning that goes beyond just making money?

If we cannot answer yes to those questions, then we're failing, no matter how much money we make. But if we can answer yes, then we're likely not only to attain financial success but also to gain that rarest of all achievements: a life that works.

Jim Collins (jcc512@aol.com) is coauthor of "Built to Last: Successful Habits of Visionary Companies" (HarperBusiness, 1994). Formerly a lecturer at the Stanford Graduate School of Business, he jettisoned a traditional academic career in order to chart his own path. Today, he operates a management-research laboratory in Boulder, Colorado.