This is About Fred Smith the CEO of FedEx, Smith studied at Yale University around 1960, while he was in the university, he came up with the idea of Delivering products overnight which can be trusted.
He worked hard and came up with an amazing plan. He presented the same plan to his Professor and scored “C”. but he never stopped himself from his thought of making something better. after years this man founded the awesome company.
Fred Smith started FedEx on 18th June 1971,
now let us know what happened ???
in 1973 FedEx raised around $80 million while they started off with only 7 packages ordered. later they spread their service from 11 cities to 25 cities in a short span. order number rises from 7 to 200.
but still remains quite expensive for FedEx. Since they were using airplanes as a means of transport for overnight delivery.
by the year 1976, they were leftover with cash of $5,000 off which they had to claim airline fuel expenses worth $24,000,
Fred Smith felt shattered seeing all of his dreams falling apart. The company doesn’t have any money to meet operational costs.
but he didn’t want to give up without fighting!!!
This man with his $5,000 he played blackjack at Las Vegas, crazy he was!! and made $27,000 just enough to meet the costs and within the next ten days.
He raised about $11 million and business started to pick up the next year they made a profit of 3.6 million dollars.
Now FedEx is operational worldwide with 1,40,000 people working for it and a revenue turnover of $35 billion per annum. The professor would have never thought the idea which is graded “C” is now worth a $44.25 billion market cap company.
Fred Smith Gambled with everything he has at stake and built everything he ever dreamt for his company. This wow experience of his is truly inspiring.
This looks like a movie fairy tale but, indeed, you are never a failure until you agree, so try harder, things will fall in place.