Walt Disney Declared Bankruptcy

Alleged Fact: In 1923 Walt Disney Declared Bankruptcy. 

From the bottom of my heart I believe that anything is possible and hope you do to. Maybe you need inspiration or maybe you don’t, but every once in awhile I get slightly disillusioned with my ideas or projects that fail and need to remind myself that you sometimes need to fail hundreds of times before you succeed. Sure the odd time you hit a homerun on the first pitch, but it should never be expected…. or should it? 

Is it strange to have the confidence to always expect to succeed and in the same breath the resilience and strength to accept failure? No it’s not strange, I think it’s a necessary combination for success in marketing, creating companies, relationships, and life in general. It is also a common trait of some of the most successful entrepreneurs on the planet. 

So here is my dose of inspiration for when it’s needed: 

Walt Disney, Frances Ford Coppola, Larry King and Donald Trump all declared bankruptcy at one point in their lives. So did 65 other famous people http://www.popcrunch.com/bankrupt-65-famous-people-who-lost-it-all-50-65/  Delta Airlines filed for Chapter 11 and so did Kmart…they just changed and moved on like many other high profile companies. http://www.rjabankruptcy.com/articles/famouscorporations.html Finally, Thomas Edison had 1093 patents for his inventions, which means he had massive failure and only hit a few major  homeruns! 

I hope that you or I will never have to experience bankruptcy or failure to the degree that Walt Disney or Donald Trump have, but at least if we do, we can rest assured we are in pretty good company. 

I leave you with two quotes. 

George Bernard Shaw: 

A life spent making mistakes is not only more honourable but more useful than a life spent in doing nothing. 

Oscar Wilde: 

Experience is simply the name we give our mistakes.

  3 comments for “Walt Disney Declared Bankruptcy

  1. June 6, 2010 at 4:27 am

    I think this is very inspiring. I’m glad I came across this article, very beautifully written. I truly believe that anything is possible and I love thinking outside the box. Failing doesn’t always have to be a negative thing.

  2. KennethSPoodale
    July 11, 2010 at 10:49 pm

    Chapter 13 bankruptcy is also called a chapter 7 bankruptcy reorganization bankruptcy. It is filed by individuals who wish to pay off their debts in 3 to 5 years. This type of proceeding is suited for individuals with non-exempt property they wish to keep. It is only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.

  3. woodlandsPRO
    January 1, 2014 at 12:31 pm

    kennethspoodale is wrong. ignore his post. chapter 7 is NOT reorganization.

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