What Would Walt Disney Do in This Time of Crisis?
The Walt Disney Company has undeniably suffered a series of setbacks in recent days. The impact of the Coronavirus has damaged Disney in three different ways.
The cancellation of sports programming hurts ESPN and reduces advertising revenue. At the same time, the park closures guarantee a significant financial loss as well. Also, Disney has had to delay theatrical releases like Black Widow and Mulan, while Onward will cede millions in box office revenue.
With so much working against Disney, I have to wonder. What would Walt Disney do if he were in charge of his namesake company right now? Here are nine ways that Uncle Walt would spearhead a reversal of fortune at Disney.
Protect His Employees
Taking care of cast members is the first step that Walt Disney would take. Yes, he famously disliked unions, but the entrepreneur cared deeply about the happiness of his staff. It’s one of the reasons why Imagineers have kept the Disney torch alive for so long.
I would expect that Uncle Walt would have found a way to keep the Disney College Program alive. Also, I think he would have worked with third-party restaurants like Rainforest Café and T-REX Restaurant to avoid job cuts.
Finally, I suspect that Walt would have leveraged his business relationships to avoid such a depressing circumstance. If he could convince Pepsi to pay for It’s a Small World and then give the attraction back to him, he could somehow keep the lights on at Art Smith’s Homecomin‘.
Display Confidence
Employees learn a great deal about their bosses during calamitous circumstances. Right now, some of you are nodding your heads. Based on recent events, you may have found a newfound appreciation for your immediate supervisor. If not, you’ve probably realized that the person is an idiot.
A lot comes down to confidence. People who genuinely believe in their companies act differently. They know that their business can survive any situation. Some of them are even galaxy brain about new challenges, recognizing that the company will be better because of the struggles.
Walt Disney exuded this sort of confidence. If he didn’t, Disneyland wouldn’t exist. Where others saw orange groves, Disney envisioned the Happiest Place on Earth. Even though park construction caused constant financial struggles, Walt always believed that he could bring his dream into reality. And he did.
The current setbacks would do nothing to discourage Walt Disney. He’d know that Disney’s past few years are among the best ever, and he’d feel strongly that the best is yet to come.
Boost Morale
Disney needs a lot of wins right now. Yes, the company has done a lot right, all things considered. For example, the charitable donations to food banks thoughtfully assist the local communities in California and Florida. However, there’s still room for improvement.
I think Uncle Walt would strategize about how to make the parks viable while closed. I suspect that he would ask all of his celebrity friends to share their love of Disney on social media.
The company founder might have stars of Disney films recreate their roles in short videos. And I’m confident that he’ll show some behind-the-scenes footage at Disney theme parks to remind people how much they love vacationing in the Disney Bubble.
Similarly, Disney would keep cast members informed about the company’s status. He’d communicate about corporate plans in a way that would reassure cast members.
Work Tirelessly
Here’s one of the things that would matter the most. Walt Disney would outwork the competition during this perceived downtime. While Americans work from home, Disney would leverage modern communication tools to unify the entire Disney empire.
The company founder would work 18-hour days to find the best ways to streamline the process for returning cast members and guests. He’d come up with plans for releasing Disney movies at optimal box office periods, and he’d double down on Disney+ even more than current CEO Bob Chapek has done thus far.
Most importantly, Disney would determine the best ways to make the parks feel special and welcoming. When guests return, they’ll want Disney to be as good as they remember.
Who could do that more than Uncle Walt? After all, he lived by this mantra: “Do what you do so well that they will want to see it again and bring their friends.” Disney proved his skill in this capacity through the sheer volume of Disneyland attractions that have stood the test of time.
I would expect the entrepreneur to compile a list of viable action plans across all four divisions of Disney rather than wasting his downtime binge-watching Pixar movies like the rest of us.
Find the Positives
I know a lot more pessimists than optimists, which I realize might be a pessimistic thing to say. However, I strongly believe in the power of positivity. And Walt Disney felt the same.
The highly accomplished businessperson would find the upside in the situation. He’d intuit that absence will make the heart grow fonder for theme park fans. Nothing will make them want to visit the Happiest Place on Earth more than being told that they can’t go.
Similarly, I previously mentioned the importance of Disney+. The sudden collapse of the movie industry gives Disney a chance to boost streaming service subscriptions at a shocking rate.
If ten million more people add Disney+ while working from home and then keep it, Disney could earn an extra $667 million from the service over the next 12 months. Walt Disney would love those numbers.
Commit to Quality
A temptation during hard times is to cut corners. If anything, that’s backward thinking. Customers will have the same expectations for established products. Disney can’t sacrifice quality right now, even if that strategy would save a few bucks.
I suspect that Walt Disney would dedicate himself to upcoming park highlights like the 50th anniversary of Walt Disney World. He’d watch the dailies from the films and television shows that are currently on hiatus. He could provide suggestions on how to enhance the entertainment value of each one. Who knows more about Disney movies than he does?
Perhaps most importantly, Disney would prioritize the quality of all merchandise, in and out of the parks. The company’s currently experiencing a merchandising renaissance, but it still feels like some sites like TeePublic have better designs.
The entire Disney brand is predicated on quality. Once normalcy returns, the company can and should establish its supremacy once again. Walt Disney would lead the charge on that business tactic.
He Would Ride all the Rides
Did you ever watch that South Park episode where Cartman runs his own theme park? Walt Disney did that for real! Since he died in 1966, his parks have constructed some of the most spectacular rides ever.
I suspect that Uncle Walt would spend a few days on Haunted Mansion, Space Mountain, and Pirates of the Caribbean, all of which he worked on but didn’t live long enough to see them open.
And he would be all over the new stuff like Star Wars: Rise of the Resistance and (especially) Mickey & Minnie’s Runaway Railway. I mean, who loves theme park attractions more than Walt Disney?