the right way is the hard way

You and Larry David wrote Seinfeld together, without a traditional writers’ room, and burnout was one reason you stopped. Was there a more sustainable way to do it? Could McKinsey or someone have helped you find a better model?

Who’s McKinsey?

It’s a consulting firm.

Are they funny?

No.

Then I don’t need them. If you’re efficient, you’re doing it the wrong way. The right way is the hard way. The show was successful because I micromanaged it—every word, every line, every take, every edit, every casting. That’s my way of life.

Daniel McGinn and Jerry Seinfeld

"Life’s Work: An Interview with Jerry Seinfeld" by Daniel McGinn. Harvard Business Review. January-February 2017.

control your expenses

Control your expenses better than your competition. This is where you can always find the competitive advantage. For twenty-five years running - long before Wal-Mart was known as the nation's largest retailer - we ranked number one in our industry for the lowest ratio of expenses to sales. You can make a lot of different mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you're too inefficient.

Sam Walton

Sam Walton, Made in America by Sam Walton & John Huey. Bantam Books. 1992. p. 248, 249

the pursuit of value

The trigger for any corporate transformation is the pursuit of value. Ideally, that entails both improving efficiency (through streamlining and cost cutting) and reinvesting in growth. But many transformation efforts derail because they focus too narrowly on one or the other.

In some cases, attempts to streamline the business through productivity improvements, outsourcing, divestments, or restructuring undermine growth. The cuts are so deep that they hollow out capabilities, sap morale, and remove the slack that could have fueled new endeavors.

Bharat N. Anand and Jean-Louis Barsoux

"What Everyone Gets Wrong About Change Management," Harvard Business Review. November-December 2017.