April 28, 2006

Walt Disney's Business Philosophy

A bunch of Disney and Pixar professionals operate a website called Re-Imagineering. It is "A forum for Pixar and Disney professionals passionate about the Disney Theme Parks to catalog past Imagineering missteps and offer tenable practical solutions in hopes that a new wave of creative management at Imagineering can restore some of the wonder and magic that's been missing from the parks for decades."

The site is great reading and for me it is inspirational as I go about my business and technology reinvention. The reason I bring this up today is that Re-Imagineering has posted a 1966 NBC interview with Walt Disney. Its awesome insight into Disney's business mind and vision that we can all learn from.

To quote the writer of the post - "in the space of a brief, four-minute interview, Walt Disney covered no less than eight business considerations which went into the decision making process affecting Disneyland. Masterplanning... analyzing alternatives... evaluating costs... growth potential... working with government... taking risks... looking at investments and re-investment... up-grading, continually improving the product."

Here my favorite part...

"Well, I'd say it's been my biggest problem all my life - it's money. It takes a lot of money to make these dreams come true. From the very start it was a problem of getting the money to open Disneyland. About 17 million dollars it took. We had everything mortgaged, including my family. We were able to get it open and for ten or eleven years now we've been pouring more money back in. In other words, like the old farmer, you've got to pour it back into the ground if you want to get it out. That's been my brother's philosophy and mine too."

here for a full link to the article/interview.

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