Walt ran out of money, and his company Laugh-O-Grams went bankrupt. Instead of giving up, Walt packed his suitcase and with his unfinished print of The Alice Comedies in hand, headed for Hollywood to start a new business. He was not yet twenty-two.
The resilience of great business leaders and managers has always been one of their chief characteristics to emulate, and the hardest to do.
It's always interesting and motivating to hear the stories about those who refused to give up and always came back, but the reality is it's a very difficult process, and one that is hard to follow through on.
This isn't to be discouraging, but it's the truth.
The secret is in what Walt Disney did. He was basically penniless and had nothing but the unfinished print of "The Alice Comedies" in hand. Rather than sit around licking his wounds, he simply took his work and moved toward a new venture.
That's the key to working through difficult business circumstances: you must keep moving, regather your emotions and thoughts, and simply go forward.
Sure, you've got to evaluate if you need to adjust or adapt to what caused the problems, but at the same time, once that's discovered, immediately take steps to change them.
From there, go ahead with the adjustments made in response to what you found.
For Walt Disney, he knew what he wanted and knew he was on to something. That was his chief motivator, along with his passion for animation and wholesome entertainment. He wasn't going to allow a little thing like running out of money get in his way, or a bankruptcy.
It may shock a lot of people reading to know the number of big name business leaders that have throughout their lives, not only declared bankruptcy once, but in many cases a number of times.
The point isn't to boast about it, but to realize they were convinced they could make it in their chosen field, and nothing like money, bankruptcy or temporary setbacks would do anything to change it.
Other Walt Disney Sources:
"Walt Disney and the Quest for Community"
The Golden Age of Mickey Mouse
Chronology of the Walt Disney Company
Walt Disney's original plans for EPCOT
Builders and Titans: Walt Disney
Disney the Innovator vs Disney the Conservative
A belated thank you to pioneer Walt Disney
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