THE STORY OF FRED SMITH – THE FOUNDER OF FEDEX

Today, few time ago a another amazing video entitled THE STORY OF FRED SMITH – THE FOUNDER OF FEDEX was posted in the channel: PAPE English

As written in the video description by PAPE English: Fred Smith is one of the most admired entrepreneurs in the world. The American is the creator of Fedex, the largest delivery company on the planet.\nHis business was able to reinvent what was understood by delivery all over the world, and although today it is a great success, his idea began to be discredited.\nFrederick Smith was born in the city of Marks, Missisipi, USA on August 11, 1944.\nHe is the son of James Smith, a great entrepreneur who created a famous restaurant chain called Toddle House, and the transportation company Smith Motor, now known as Greyhound. However, James passed away when Fred was only 4 years old, and because of this, he was raised by his mother and his uncles.\nAs a child, Fred had serious bone problems that made his locomotion difficult and almost completely compromised it; however, he managed to overcome the problems, and years later, he served in the U.S. Navy during the Vietnam War.\nIn the conflict he acted as an airplane pilot, later receiving the honorable discharge and some decorations for his achievements in the country.\nYears before, he graduated in Economics from Yale University. There, he designed the business plan of what would one day be Fedex; a fast delivery system that promised to deliver orders at a speed considered impossible for the time. The project was daring, but when he showed it to a professor, he was discouraged; because according to the tutor, the project was unfeasible.\nAfter leaving the Navy, he decided to gather his savings and bought an aircraft maintenance company called Ark Aviation Sales in 1970.\nIn the company, Fred Smith transformed the internal processes, and in a few months implemented a new concept in which besides providing the maintenance service, the company also started buying and selling used airplanes. \nThis new service guaranteed a good profit margin, because the company was able to repair used airplanes, which were bought for low prices, and after tidy sold for market prices. \nHowever, the following year, he decided to risk everything he received from his father to put into practice the project he had designed at the College.\nDuring the Navy years, Fred always tried to pay close attention to how the logistics of supplies was done. For him, understanding that system would be essential so that one day he could dominate the American logistics market. And the lessons he had during the naval service would be vital to the business.\nThe amount received in the inheritance was 4 million dollars, something around 25 million dollars in current values. Enough for him never to need to work.\nHowever, even so he decided to implement the idea, but before putting the project into practice, he also sought investors, who decided to believe in the idea. The support of the investors was essential to put into practice the idea that would literally have a continental magnitude.\nAnd so, with all his resources and the contribution of venture capital he founded Federal Express, a delivery company that planned to revolutionize the market.

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