Pixie Dust & Profits

Each week, we come to you with ideas from the Mouse on how you can grow your small business. This week, we're talking about how Disney fosters a culture of continuous improvement and innovation.

Inside, you'll find examples of how Disney pushes the envelope in big and small ways, how big risks sometimes don't pay off, and ways you can think about innovating in your own business.

Listen now and discover:

• How Disney implements both small-scale and large-scale innovations to keep their guests coming back for more
• A few ways Disney balances the traditional, iconic Disney experience with modern culture and technology
• Why a workplace culture that encourages creativity and experimentation without fear of failure is key to staying ahead of trends
• Some of the new experiences that have popped up at Walt Disney World in the past year
• How the relatively new EPCOT International Festival of the Arts is simply a variant of other festivals that already existed in the park
• A look into the Disney Park expansions into China, Tokyo, and Paris… and the different success levels of each

Your small business takeaways:

• How you don't need to reinvent the wheel to create something new in your business
• The importance of knowing your audience when making investments or reinventing your products
• Easy ways you can survey your audience or get a customer pulse on a new project
• Examples of disruptive innovation (the new iPhone) and incremental innovation (new iPhone models)
• Encouragement to not be afraid to adjust and experiment with your signature products
• How to plan for innovation in your business and how to know when it's the right time to invest in change

Links:

• The Imagineering Story
• 3D Chalk Artist, Nate Baranowski
• Cinderella Castle Makeover
• Follow us on Instagram @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your small business. This week, we're recapping and analyzing the Walt Disney Company's Q1 FY20 Earnings Call.

Inside, you'll find discussion on Disney's recent successes, their unplanned setbacks, and insights on how they capitalized on collaborations and partnerships to hit their goals.

Listen now and discover:

• What was discussed and revealed in Disney's Q1 FY20 Earnings Webcast
• Why a quarterly review process is important and how you can implement one in your own small business
• How Disney+ exceeded analysts' expectations and the marketing mix they used to gain 26.5 million subscribers
• The major ways Disney+ stacks up against Netflix, and how it leveraged good content to get where it is today
• The opportunities that can arise when you commit to doing things in a new or different way
• What a churn rate it is and how bundling can help keep your subscriber base high
• The importance of having a back-up plan for when things don't go as planned, such as the decision to shut down Shanghai Disney due to the Coronavirus (or when your first baby comes earlier than expected)

Your small business takeaways:

• Even if you're a 'late-comer' to a marketplace, you can build on current industry knowledge and consumer habits to make your own platform or product even better
• Don't compare your start to someone else's finish
• Service providers can leverage a variety of distribution platforms (like virtual summits, etc) to increase their reach, visibility, and audience
• Product-based small business owners can leverage different sales platforms (such as Etsy, Amazon, your website, etc.) to increase their discoverability
• Know what metrics you want to track in advance and have the systems in place to measure them before you launch your product
• When you should realize your revenue

Links:

• Our email subscribers get an extra sprinkle of pixie dust in their weekly emails—head to magic.pixiedustandprofits.com to join the list now!
• Follow us on Instagram @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your small business. This week we're taking a look at how you can leverage strategic collaborations to grow your business faster and reach new audiences.

The inspiration behind this episode is Disney's recent partnership with Lyft and their upcoming joint venture with Target. Join us as we walk you through ways to better collaborate in your small business.

Listen now and discover:

• How excited we are for Season 2 and our thoughts on making it even more magical
• What it means to embrace a collaboration mindset (over a competition one)
• How Disney sought to create their own ride sharing network, Minnie Vans, and leveraged Lyft's expertise to make it happen while still providing a true Disney experience
• Disney's upcoming joint venture with Target and what it means for both businesses
• The importance of choosing joint ventures that are aligned with your business goals, mission, and values
• How to best utilize joint ventures and tips on how to collaborate with another business or brand successfully

Your small business takeaways:

• Brainstorm a few complementary businesses, industries, and brands that you would love to work with
• Leverage your relationships to create a joint venture experience. These types of events can increase your conversion rate, shorten your conversions window, and helps get you in front of a really targeted audience.
• Don't be afraid to leverage other networks and platforms, such as Etsy and shoppable Instagram. They have much bigger audiences and can help lead your target audience back to your website.

Links:

• Our email subscribers get an extra sprinkle of pixie dust in their weekly emails—if you want to get your hands on the free Bonus Pitch Email Template, head to magic.pixiedustandprofits.com to join the list now!

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're breaking down how Disney mitigates traditional slow seasons with offers, new events and more.

Tune in to hear practical business lessons that you can apply to your own quiet periods in your business to reduce the impact of the feast and famine cycle. We cover how and when to offer discounts, addressing customer pain points and creating new offers.

Listen now and discover:

• How Disney ensures they never really have a "slow" season
• Why even hurricanes are no match for Disney's marketing prowess
• Why addressing your customer's pain points can help overcome their financial pain points
• That discounts aren't the only way that Disney drums up revenue during quieter periods

Your small business takeaways:

• Knowing when the slow periods are in your business is the first step
• Carefully timing your offers in advance of slow periods can encourage your audience to purchase because they're still paying attention
• Sometimes a new offer can be a great revenue generator if it adds value or solves an important pain point

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/13
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're analyzing the successes and hiccups of the Disney+ launch.

Tune in to hear practical business lessons that you can apply to your small business launches. We cover pricing and bundling your offers, why you need to have flexibility during a launch, and more in this episode!

Listen now and discover:

• Business lessons learned from the Disney+ launch and how they apply to your small business
• Why a variety of bundling options are important for making the sale
• Why a plan during a launch should be treated like a guide instead of a finalized execution
• Why being able to deal with tech issues in a smooth, calm, and quick way will keep your customers happy
• How conversations about a product launch on social media can create FOMO (fear of missing out) for some customers and increase your sales
• The psychology behind being part of a bigger collective of people and why it's important
• Why sometimes you have to go through a launch in order to have revelations and new insightsBusiness lessons learned from the Disney+ launch and how they apply to your small business
• Why a variety of bundling options are important for making the sale
• Why a plan during a launch should be treated like a guide instead of a finalized execution

Your small business takeaways:

• Whether you're launching for the first time or re-launching a beloved product, remember that your launch plan should be fluid and flexible so you can roll with the curveballs that come your way.
• Learn from hiccups and mistakes so next time you can optimize and focus on continuous improvement in your small business
• Implement a post-mortem after a launch - review the successes, the challenges, and areas that can be improved upon so the next launch runs more smoothly
• Make celebration part of the launch process!

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/12
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're exploring the variety of ways Disney provides fun and entertainment for all ages beyond just the rides.

Listen and learn strategies for how you can replicate these Disney experiences for your current and future clients/customers. There are numerous ways to keep them engaged with your small business before and after working together!

Listen now and discover:

• The multiples ways Disney keeps its guests entertained and actively engaged in the park outside of the rides
• How the Sorcerer's of the Magic Kingdom card game keeps various age groups entertained and involved with all areas of the park
• Info about the pin trading experience at Disney, the interactions it creates between cast members and customers, and the revenue it generates
• The excitement and exclusivity that is created around the pin trading phenomenon
• What 'Hidden Mickey' is and its importance - especially if you are waiting for someone to finish a ride you can't go on
• The experience the Play Disney Parks app creates for customers waiting in line

Your small business takeaways:

• How you can replicate experiences outside of your small business to keep your audience engaged
• Showing your customers the behind the scenes work enhances the connection and anticipation of a product release
• What can you give to your upcoming clients/customers to give them an experience leading up to the work you will do together? (Things like intake surveys, etc)
• Bridge the gap between purchase and receipt of product

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/11
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're exploring how Disney's commitment to customer service ties into their payroll strategy for its 75,000 cast members.

Listen and learn strategies for how you can successfully find quality contractors for your team, the pros and cons of hiring at various price points, and how you can have employees that are just as devoted and happy as those working in the Magical Kingdom.

Listen now and discover:

• How many cast members Disney World employs and just how big an expense their payroll is (it's hard to believe!)
• One key driving factor behind the wages Disney sets for its cast members
• How hiring for your small business is done best with a purpose and a plan
• Strategies for setting yourself up to successfully hire quality contractors
• Why reaching out to your community and network for referrals are a great way to find quality team members
• How hiring from within your community can make the onboarding process easier, faster, and less costly
• The importance of setting daily, weekly, monthly, and quarterly expectations for your new hire, and you

Your small business takeaways:

• When you're ready to scale up and hire a contractor you need to have a purpose, plan, and budget to hire a quality team member
• There are roles you can outsource cheaply in your business, but there are others, such as customer support, that will be worth the extra money for the better overall customer experience
• Before hiring a new team member and delegating tasks, record yourself doing those same tasks so it will be quicker to train your new contractor

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/10
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're exploring Disney's variable ticket pricing strategy and how it enables them to better forecast revenue and plan resources.

With revenue and crowd forecasting, Disney is better equipped to resource plan, which helps them maintain their excellent customer experience throughout the parks and hotels. Listen and learn how you can replicate these pricing strategies in your own small business.

Listen now and discover:

• How Disney deals with demand by increasing or decreasing their ticket prices throughout the year
• How you can implement similar pricing strategies and techniques in your business
• Why planning for max capacity gives you more flexibility when it comes to promotions for your customers
• Other ways Disney incentivizes their customers to come during less popular times
• What resource planning and pre-forecasting are and how to utilize them to keep the customer experience as enjoyable as possible
• Fun tip: How to hack your Disney Snack Credits

Your small business takeaways:

• Raise your prices in your business as you grow and gain more experience and expertise
• Supply and demand still applies as a service provider
• Planning revenue is about so much more than the $$$ signs… it helps your business forecast how many sub-contractors or employees your business will need.
• Know what your values are in your business so you feel aligned with your customers and yourself
• Explore the different pricing strategies mentioned in the episode, from the agency model to running and pricing a course or program

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/9
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're exploring ways to think sustainably about your business resources and how you can more efficiently use your time and money to create a bigger impact. Listen now and discover:

• Why Disney switched their iconic plastic Mickey Mouse shaped straw in favor of a more eco-friendly option
• How Disney plans to cut green-house gas emissions in half by 2020
• The ways Disney is eliminating as much single-use plastic as possible throughout the parks and hotels
• How even your service or product-based small business can think sustainably
• How one piece of content or one product can be repurposed or shared to create more value for you clients and customers

Your small business takeaways:

• Think about the content or products you're creating and how you can reuse them in order to reduce time creating new content or products in your business
• One piece of content can be repurposed and tailored to a variety of mediums, such as social media, newsletters, etc
• Reusing a piece of content can help you be seen as a thought leader in your industry because you are an expert in a specific area
• Leverage the bigger, more expensive content or products you have as stand alone products which makes the barrier of entry lower and more accessible

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/8
• Pixie Dust & Profits on Instagram - @pixiedustandprofits

Each week, we come to you with ideas from the Mouse on how you can grow your business. This week, we're exploring the various tiers of hotel experiences Disney offers — whether you're on a budget or ready to spend those dollar bills there is an option for everyone.

Disney has strategically created different hotel options and experiences based on a variety of customer's wants, needs, and loyalty. Listen to learn how you can replicate this model in your business.

Listen now and discover:

• Our favorite Disney hotels and why there are so many of them
• The three main tiers the Disney hotels fall under
• How these hotel tiers relate and translate to your business
• How you can create a valuable experience for your potential customers that keeps them to the end of your ascension model
• How Disney and you can reward loyalty among your customers
• Our favorite hotels and the ones we can't wait to stay in

Your small business takeaways:

• Disney is meeting every customer where they are at financially. Think of your potential customers and create a ladder of different value offerings that can grow with your client
• Everyone thinks you go to Disney for the parks, but there are so many more experiences you can enjoy (like the themed hotels). How can you incorporate this strategy into your own business?

Resources Mentioned:

• Pixie Dust & Profits LIVE - Meet us in Orlando in August! If you're ready to get your ideas out of your head and into solid, scalable action plans... join us for our first official Pixie Dust and Profits LIVE business intensive! Get the details and register now.
• Show notes - pixiedustandprofits.com/7
• Pixie Dust & Profits on Instagram - @pixiedustandprofits