Scrambler: Oil Wildcatter, Football Revolutionary; Owner, Dallas Cowboys

In my mid-30s, I would have annual visits with Sam Walton. At that time I was primarily in the oil and gas business and some real estate.I asked him very early in our acquaintance if he had one rule that he practiced, what would it be, and I have applied it ever since. “If you are not undermanned, you’re overstaffed, and you’ll never see your heroes.” What he meant: Keep your labor or your expense down and maximize the responsibility you extend to fewer people. When you do that you will see the people who have the ability and motivation to do the work.
When I bought the Cowboys in 1989, Tex Schramm had done a marvelous job creating visibility. What was lacking was the ability to monetize the visibility–to bring back home juice. When we first met, he said that football would be a hell of business if you didn’t have to play those games. With Sam Walton in mind, I set out to have a franchise that could have financial viability, win or lose. I call it bringing the ten-pound bass in on the one-pound test line.
The ineffective people take care of themselves. Someone has to produce or it becomes apparent where they are. We need people with across-the-board knowledge in terms of what we are trying to do. One of the real plusses of oil and gas exploration is you can do it with a relatively small staff. We probably have only a dozen involved in running the Cowboys and related businesses. I am my own president and GM; if you eliminate my family you probably have only two or three people involved. You can do a lot of things with fewer people if you are willing to take a lot of risk. There is definitely a correlation. http://ow.ly/i/IEDYQ