Each week, we come to you with ideas from the Mouse on how you can grow your small business. In this episode, we are giving real life examples of how Disney is pivoting their business in a strategic, and compassionate, way to ensure cast member and customer loyalty.
We are also discussing how Disney continues to respond to the COVID-19 outbreak, from their open-ended announcement that they'd remain closed "until further notice" to their on-going charitable support despite a significant loss of revenue.
“I just thought of one thing that’s permanent. Love.”
- Olaf, Frozen II
Listen now and discover:
- What actions Disney is taking to pivot their business and how you can consider them for your own business
- Disney’s projected re-open date, and the complications that may arise due to the airlines not recovering by then
- The amount of money Disney is loosing per day based off their 2019 financial report
- Disney’s planned short term loses for 2020 as they launched Disney+ in order to make long term gains, and how covid19 is affecting those strategic plans
- Disney park’s and cruise’s projected losses
- The steps Disney is taking to take care of their team members and community, and the number of people employed in just the Orlando area impacted by the park’s closure
- The financial sacrifices the people in charge of Disney are making in order to support their entire team
- Options to change how you are doing your payment plans for clients and customers
- Ways Disney is donating their now unused resources, such as food, to ensure the safety of people everywhere
Your small business takeaways:
- Remember, we are in this together and we will see the other side
- Think about your team first if your own business has to make financial adjustments - do it with as much compassion and integrity as you can
- Meeting in the middle on contracts and pay isn’t ideal, but the best thing we can do is agree to support each other through this pandemic in any way we can
- Strategies for how to push back contacts or projects if necessary for your business
- Ways to adjust your in person events, and deliver more than you originally planned, to maintain customer and brand loyalty
- Being flexible in the short term and working with your customers now will have lasting impacts on your business in the long term
