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Walt Disney's Failures Could Inspire Entrepreneurs ByStephen SchochetYou are a struggling entrepreneur and sometimes it feelslike you are pushing a 3 ton boulder up a steep hill. Costskeep mounting and you are considering giving up. Well beforeyou do, check out these 10 setbacks that Walt Disney had,some were financial nightmares that put him millions ofdollars in the red:1) Walt formed his first animation company in Kansas City in1921. He made a deal with a distribution company in NewYork, in which he would ship them his cartoons and get paidsix months down the road. Flushed with success, he began toexperiment with new storytelling techniques, his costs wentup and then the distributor went bankrupt. He was forced todissolve his company and at one point could not pay his rentand was surviving by eating dog food.2) Walt created a mildly successful cartoon character in1926 called Oswald the Rabbit. When he tried to negotiatewith his distributor, Universal Studios, for better ratesfor each cartoon, he was informed that Universal hadobtained ownership of the Oswald character and they hadhired Disney's artists out from under him.3) When Walt tried to get MGM studios to distribute MickeyMouse in 1927 he was told that the idea would never work-- agiant mouse on the screen would terrify women.4) The Three Little Pigs was rejected by distributors in1933 because it only had four characters, it was felt atthat time that cartoons should have as many figures on thescreen as possible. It later became very successful andplayed at one theater so long that the poster outsidefeatured the pigs with long white beards.5) Snow White and the Seven Dwarfs was sneak previewed toCollege Students in 1937 who left halfway during the filmcausing Disney great despair. It turned out the students hadto leave early because of dorm curfew.6) Pinocchio in 1940 became extra expensive because Waltshut down the production to make the puppet more sympatheticthan the lying juvenile delinquent as presented in theoriginal Carlo Collodi story. He also resurrected a minorcharacter, an unnamed cricket who tried to tell Pinocchiothe difference between right and wrong until the puppetkilled him with the mallet. Excited by the development ofJiminy Cricket plus the revamped, misguided rather thanrotten Pinocchio, Walt poured extra money into the film'sspecial effects and it ended up losing a million dollars init's first release.7) For the premiere of Pinocchio Walt hired 11 midgets,dressed them up like the little puppet and put them on topof Radio City Music Hall in New York with a full day'ssupply of food and wine. The idea was they would wave helloto the little children entering into the theater. By themiddle of the hot afternoon, there were 11 drunken nakedmidgets running around the top of the marquee, screamingobscenities at the crowd below. The most embarrassed peoplewere the police who had to climb up ladders and take thelittle fellows off in pillowcases.8) Walt never lived to see Fantasia become a success. 1940audiences were put off by it's lack of a story. Also thefinal scene, The Night On Bald Mountain sequence with thedevil damning the souls of the dead, was considered unfitfor children.9) In 1942, Walt was in attendance for the premiere ofBambi. In the dramatic scene where Bambi's mother died,Bambi was shown wandering through the meadow shouting,"Mother! Where are you, Mother?" A teenage girl seated in thebalcony shouted out, " Here I am Bambi!" The audience brokeinto laughter except for the red-faced Walt who concludedcorrectly that war-time was not the best time to release afilm about the love-life of a deer.10) The sentimental Pollyanna in 1960 made Walt cry at thestudio screening but failed at the box office. Waltconcluded that the title was off-putting for young boys.Walt was human, he suffered through many fits of anger anddepression through his many trials. Yet he learned from eachsetback, and continued to take even bigger risks whichcombined with the wisdom that experiencing failure canprovide, led to fabulous financial rewards. Article Tags: Failures Could Inspire, Could Inspire Entrepreneurs, Failures Could, Could Inspire, Inspire Entrepreneurs
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