Making the Leap: Jim Collins on Going from Good to Great

November 2002
Journal of Financial Planning;Nov2002, Vol. 15 Issue 11, p24
Academic Journal
This article interviews author Jim Collins about how the principles of going from good to great apply to the practice of financial planners. In response to a question as to whether everybody and every organization always have to be pushing to become great, Collins said that those who are really trying for excellence, improvement or greatness must understand that it is an intrinsic process. It is the ability to say that what matters is the integrity of the pursuit. In stating whether constant striving for greatness in an organization ever exhaust people or wear them down, he said that the data shows that it is no more exhausting, trying, painful or unpleasant to be in the great companies versus the comparison companies. If anything, the people in the great organizations were energized by the pursuit. One of the conclusions he draws is that the perpetuation of allowing things not to improve is exhausting. In expressing the importance of a statement of core values, Collins said that people do need to know what financial planners stand for, not just what they are going to do for them. Clients of financial advisors need to know, above all else, that the planner stands for professionalism. The world changes all the time, and what an advisor will deliver in the way of financial planning, products or services will change, too. But what each financial planner stands for as a person should remain absolutely fixed.


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