New Book Inspires Readers to Dream Big With Disney World As an Example

Beyond the Wisdom of Walt by Jeffrey A. Barnes is the follow up to Dr. Barnes’ first book, The Wisdom of Walt, and what a magical follow-up book it is. While The Wisdom of Walt chronicled the history of Disneyland and used it to teach readers how to dream big, Beyond the Wisdom of Walt goes beyond the first book, continuing the story by describing Walt Disney’s dreams for what would become Walt Disney World and Epcot Center. Each chapter is filled with Disney history and trivia as well as Dr. Barnes and his wife Niki’s personal experiences at the Disney parks, but the book is far more than another Disney book. Barnes writes first and foremost to encourage his readers to have their own dreams and take actions to make them come true.The book is divided into thirteen chapters with titles such as “Choosing to Change,” “Dealing with Doubters,” and “Financing Your Future.” Each chapter uses stories about Walt Disney World to inspire and encourage readers to use Walt Disney and the Walt Disney Company’s examples for creating a better and more meaningful life. Each chapter ends with exercise questions to help readers reflect upon what they have just read and then determine how to make the necessary changes in their lives to create and embrace their personal success.That doesn’t mean the book is all work, though. It’s mostly fun, so fun you’ll want to read it multiple times, at home, before your next trip to Disney World and Epcot, and then when you return. Dr. Barnes is actually known as Dr. Disneyland to his students because he teaches a class on the History of Disneyland. While some of his colleagues initially pooh-poohed it as a “Mickey Mouse class,” Dr. Barnes knows how to pull out meaningful incidents in the Disney parks’ histories as models for all of us, and now, for those who haven’t had the opportunity to take his class, we get to hear those stories in these pages.

One of my favorite stories in the book is included as an example of how we have to learn to let some things go in our lives. Barnes describes how Walt Disney originally wanted people to be able to fish at Tom Sawyer Island-imagine being able to catch a fish at Disneyland! Originally, it seemed like a fun experience and a good idea, but think a bit further about it. As Dr. Barnes writes:”Can you imagine? Walking around Disneyland carrying a dead fish. As the day gets hotter, your dead fish gets smellier. But you hold on to it for dear life. A timeless souvenir from Tom Sawyer Island. How could you possibly consider letting such a priceless thing go?”Dr. Barnes’ point is that “You can’t move forward with your future while simultaneously holding on to your dead past… Walking around with a dead fish at a Disney park is pointless. Yet that is exactly what we do with life. We carry on with the negative, destructive, painful things from our past, and not just for a few hours. This goes on for days, weeks, months, and years.”Through these pages, we don’t just learn about the Disney magic and Walt Disney’s many successes. We also learn a lot about the mistakes the company made and then how it made them better. Whenever there was a problem, the company found a way to resolve it, and it always went above and beyond to ensure its guests had the best experiences possible. Walt Disney was not above picking up trash he found in the park to make sure people experienced a clean park and were also encouraged not to drop trash themselves. Barnes also shares Disney team member Randy Pausch’s story of being a boy and visiting Disneyland. He bought a salt-and-pepper shaker for his parents and then dropped and broke it. The people who worked in the gift shop replaced it, saying it was their fault for not wrapping it properly. Obviously, the customer comes first at Disneyland, and that led to Randy Pausch being so impressed that he went on to work for Disney. From mistakes can come lessons that can be turned into successes.Despite his love for everything Disney, Dr. Barnes also isn’t above criticizing a few flaws in the parks, but when he does so, he uses them as examples for his readers to grow from. For example, he has issues with the Soarin’ Over California attraction at Disney’s California Adventure Park. I’ll let readers discover that issue for themselves. It may seem like a small complaint on Barnes’ part, but as the chapter develops, Dr. Barnes uses it to create a great message for his readers.Whatever small flaws the parks may have, in these pages, Barnes primarily focuses upon all the Disney magic and how the parks have been made magical. We learn a variety of wonderful and interesting stories about the parks’ development. Even in the story of the demise of favorite attractions like Mr. Toad’s Last Ride, there is a lesson to be found. There are also wonderful emotional moments, like how it snowed at Disneyland the night Walt Disney died. There are moments of triumph when Walt’s own brother, Roy, was against building Walt Disney World, but then upon Walt’s death, he took up the reins and ensured that his brother’s vision was completed.

Ultimately, this book is a lot like the Disney parks themselves. Barnes mentions the naysayers who didn’t think his books would succeed, but those people missed that these books are about more than the Disney parks. They’re about how we live our lives. Similarly, Barnes has a paragraph that says the same thing about the parks. He describes how the critics initially hated the idea of Disneyland, and then he goes on to say, “What the ‘experts’ missed was that Disneyland wasn’t about rides. The park was the attraction-a show that Walt believed would sell itself. It would attract guests to his new form of outdoor entertainment.” Later, in comparing the parks to what the Grinch learns about the true meaning of Christmas once all the decorations and presents are gone, Barnes says, “The same is true at Disneyland and Walt Disney World. Take out every ‘ride’… and people will still come. Disneyland is not an escape; it is an example. Walt Disney World isn’t the place where ‘dreams come true.’ It is showing us how to make our own dreams come true.”And that is exactly what Beyond the Wisdom of Walt does-it shows us how our dreams can come true. If you love Disney and you know it’s time to make some changes in your life, I can’t think of a better gift to give yourself than to read this book because, ultimately, the place where dreams come true lies within you, and it’s just waiting for you to open its door and tap into its magic.

Sources of Business Finance

Sources of business finance can be studied under the following heads:

(1) Short Term Finance:

Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.

Sources of short term finance are as follows:

(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.

(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.

(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.

(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.

(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.

(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.

(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.

(2) Medium Term Finance:

This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:

(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.

(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.

(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.

(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.

(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.

(3) Long Term Finance:

Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:

(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.

(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.

(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.

(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.

(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.


These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.