back arrowThe Perfect RIA

5 Business Lessons Learned From Disney World [Episode 16]

Episode description

Although Matt and Micah realize that vacation is a time for much needed R&R, they couldn’t help but notice the strong business practices of Disney during their time at Disney World. This episode is the product of their seizing an opportunity to appreciate some intelligent business principles at work. This episode is thus solidified around 5 central tenets from the Disney World business model that were gleaned during their vacation.

----According to both Matt and Micah, the five biggest business takeaways are as follows:

[#1 Voluntary Transactions]

  • Disney World is expensive, but they are completely transparent with just how expensive they are. They even have shirts that say “the most expensive day ever.” What this creates for those in the amusement park is almost a willingness to participate in the expensive nature of the park. Disney World promises a magical experience with an above average price tag; the biggest part of the experience is willingly forking over the money and getting that return of value that is promised. This is directly applicable to your practice.

[#2 Paid Prospecting]

  • Once you pay the cover charge to get inside the amusement park, everything else still costs money. And every ride ends in a gift shop, as Micah states. They really don’t give you anything for free. This is directly applicable to advisors who set up introductory meetings for prospecting and who stick to their rules about pricing. After introductory consultations, you won’t throw free stuff to the client to get them on board, you demonstrate your ability to provide the client value, and it will cost commensurately.

[#3 Saving Clients’ Time Through Skillful Guidance]

  • As the episode explores, there are expert guides one can hire at Disney World who walk you through the park and who know the system well enough to provide you the most rides, attractions, and the most efficiency for your buck. Just like your advising practice, one should be a comparable guide for clients.

[#4 Increasing Pricing]

  • It is well-known that Disney has no qualms about increasing their prices to line up with their need for profit and growth; so too you need to increase prices to meet goals and to fully bring the quality of work needed for your clients.

[#5 Don’t Budge]

  • Plain and simple, there are rules in place at Disney that are completely enforced. So too one should not bend to the whims of clients in your practice. Prices shouldn’t drop, exceptions should not be made. Communicate to prospect and clients that your business model is concrete and its practices unwavering.


Matt and Micah’s Action Items

  1. Be aware of what you need to charge to make 50% profitability (remember, this means after all salaries are paid!) in gross revenue a reality for your firm
  2. Create unwavering rules that are not broken.
  3. Just like the Disney World guide, guide your clients in a similar manner. Be the time-saving expert they can depend on.
  4. When you are on vacation, leave the office at home--and yes, that means the email. And when on vacation with your family in particular, being “there” with your family is the most important thing.

More details at:


Produced by Simpler Media

episodes iconMore Episodes

Stop Lying to Yourself [Episode 27]

May 17th, 2019


There’s something that plenty of advisors are guilty of doing without even realizing it: lying to themselves. It’s easy to inflate the numbers in …

Appointments Outside of the Surge [Episode 26]

May 10th, 2019


When it comes to client meetings, we’ve talked a lot about why grouping appointments is beneficial to you, your team, and the people you serve. But what happens when someone wants to see you outside of the appointment …

Luck of the Draw [Episode 25]

May 3rd, 2019


Too often, people hang onto the idea that anyone who is successful must be lucky. Worse yet, those same people decide that a similar type of success …

Let’s Talk About Taxes! Part 2 [Episode 24]

April 26th, 2019


Key Links

  • [Link Needed for QCD/Tax preparation document Report that Matthew generates for clients. He references that if someone emails Colleen, we …

Let’s Talk About Taxes! [Episode 23]

April 12th, 2019


Key Links


Matthew and Micah are of the opinion that an expertise …

To Fee, or Not to Fee? [Episode 22]

March 29th, 2019


Key Links


Some …

Account Minimums as a Metric for Finding Ideal Clients [Episode 21]

March 15th, 2019


Every advisor doesn’t necessarily need to establish a clear-cut account minimum for their clients. In fact, Micah Shilanski doesn’t have one in his practice. He has a system of fees in place which function in a very …

Tips to Maximize Your Return on Time [Episode 20]

March 1st, 2019


Key Links

Stop Pretending to Work [Episode 19]

February 15th, 2019


Key Links


Matt and Micah are tired of well-worn assumptions about advising. In …

Coaching Your Clients Off the Ledge [Episode 17]

January 18th, 2019


The Perfect RIA hosts have a few action items for delicately dealing with clients during rough financial climates and circumstances.

[#1 Let Clients …

Confessions of a Wholesaler [Episode 15]

December 21st, 2018


The content of this episode is anchored in 3 necessary traits for effective financial advising. In addition, Michael provides action items for better …

When, Why, and How to Fire a Client [Episode 14]

December 7th, 2018


Let’s face it; sometimes partnerships sour. In all vocations, all industries, differences arise between individuals. And for something as valuable as the dynamic between advisor and client, sometimes firing clients is …

A Roadmap for a Value-Driven Financial Plan [Episode 13]

November 23rd, 2018


Key Links


Financial Planning Software is scrutinized in this episode. But right away, …

Realistic Ruminations on Broker-Dealers [Episode 12]

November 9th, 2018


This episode is, as the title suggests, all about broker-dealers. And more specifically, Matt and Micah draw from personal experience to allow listeners to gain their perspectives on the issue. Because both have worked …

Coach Joe Lukacs Revisited [Episode 11]

October 26th, 2018


Key Links

  • Magellan MasterMind & Network: Page

From Scarcity to Prosperity: Insights and Advice from Coach Joe Lukacs [Episode 10]

October 12th, 2018


Key Links

The Pitfalls of Busyness: How to Alter Your Shopkeeper Mentality [Episode 8]

September 14th, 2018


To start this episode, Micah Shilanski provides a very valuable comparison between the mentalities of a shopkeeper and a CEO. He starts this way to illustrate the often erroneous assumption that many business owners …

A Primer for Determining Your Fee Schedule [Episode 6]

August 17th, 2018


Key Links


As the title states, this episode is all about determining a fee schedule for …

Always Take the High Road [Episode 5]

August 10th, 2018


Key Links


“It takes 20 years to build a reputation and five minutes to ruin it.”

Systems, Perspectives, and Procrastination: Business Coach John Barron’s Advice for Entrepreneurs [Episode 4]

August 3rd, 2018


Key Links


In this episode, John Barron shares the importance of replacing …

The Legitimate Limitations of Speaking Financese and Legalese to Clients [Episode 3]

July 27th, 2018


Key Links


During the …

Inspection over Expectation: Gina Cotner on Developing the Right Dynamic for Delegation Between Executive and Assistant [Episode 2]

July 20th, 2018


Key Links


In this installment of the Perfect RIA

What Metrics Should Matter To Your Practice? [Episode 1]

March 13th, 2018


There's more to life than AUM -- assets under management -- to understanding the success of you and your firm. Listen in to learn more.

Subscribe to the show and leave us your comments at

Loading ...

Download the RadioPublic app for
 FREE and never miss an episode.

Get it on Google PlayDownload on the App Store