Founders

#151 Frederick Smith (FedEx)

88 snips
Oct 29, 2020
Frederick Smith's journey to create Federal Express was fraught with dramatic setbacks, including financial ruin and personal crises. Despite facing bankruptcy and being ousted as CEO, his unwavering determination and refusal to give up propelled him forward. The podcast explores the revolutionary concept of overnight delivery and the innovative problem-solving that defined FedEx's early struggles. It highlights the crucial role of timing and resilience in transforming a dream into a shipping giant, showcasing Smith's relentless spirit and voracious appetite for knowledge.
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ANECDOTE

Vegas Gamble

  • Fred Smith gambled in Vegas when FedEx was near bankruptcy.
  • He turned a few hundred dollars into $30,000, temporarily avoiding disaster.
ANECDOTE

Transportation Parallels

  • Both Fred and his father started their first businesses in transportation.
  • Fred Sr. converted trucks into buses, while Fred Jr. converted passenger planes into cargo planes.
ADVICE

Self-Improvement

  • Self-denial and self-improvement are crucial for business success.
  • Natural ability and the will to win are not enough without training.
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