Walt Disney's Role as a Real Estate Developer

 Most people know Walt Disney as a creative visionary, but have you ever considered his role as a real estate developer? He built the first Disney theme park with zero real estate development experience. How did he manage this? 

First, he came up with the idea of a Disney theme park because he did not like the amusement parks available. He would take his own daughters to these parks and found them to be dirty and distasteful for families. He recognized a need in the market and wanted to fill that gap for children and families. 

His idea was originally rejected by Disney executives, his own brother, and banks. He could not secure financial backing to support his fantastical idea. So, he put some money to gather himself and hired a team to begin working on the project. He started with a team of creative types who could turn his vision into reality. 

Then, he sought the assistance of researchers to determine If the park would be profitable and where the best location would be for the park. The numbers determined that the park would, in fact, have significant profit potential. So, he pushed forward and had the Stanford group examine numerous factors such as demographic statistics, urban growth trends, population concentrations, traffic patterns, freeway construction, availability of experienced commercial contractors, weather conditions - They found a best-suited location in Anaheim, a rapidly growing town just southeast of Los Angeles. Disney eventually purchased a 160-acre orange grove alongside the new Santa Ana freeway. This put the park only 27 minutes from downtown LA. 

With the location and financing in place, he began construction. Joe Fowler would oversee all commercial contractors and construction. The park became the cornerstone of Disney’s fortune.

The moral of the story is that with ambition and vision, a person can accomplish virtually anything. It’s often a matter of hiring people who can gather the necessary knowledge or provide the service you need to help you reach your goal. You do not need to be an expert in everything because someone else is always available to hire in the areas you fall short. Walt Dinsey is proof of this theory.