Business Wars FedEx vs UPS | Kick the Tire, Light the Fires | 1
Aug 17, 2020
Explore the ambitious beginnings of FedEx in the 1970s as founder Fred Smith bets millions on a revolutionary overnight delivery idea. Witness the chaos and challenges during UPS's labor strike, which unexpectedly allows FedEx to gain traction. Discover the fierce rivalry as FedEx enters a market dominated by UPS, navigating setbacks and financial hurdles. It's a gripping tale of innovation, risk, and the battle for supremacy in the shipping industry.
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Initial Investment and Branding
- Fred Smith secured funding from his sisters and bought two planes for Federal Express.
- He excitedly planned the company's branding, envisioning "Federal Express" painted on the planes.
Setback and Determination
- Fred Smith received bad news: the Federal Reserve wouldn't use Federal Express.
- Despite the setback and debt, he resolved to make the company work by finding a different market.
Consultations and Competition
- Fred Smith hired two consulting firms, Art Bass and Roger Frock's, for his overnight shipping company.
- Both firms identified a market gap in overnight delivery, but also warned of potential competition from established companies like UPS.