From 65438 to 0962, Smith entered Yale University, specializing in economics and political science. In the third year of college, he wrote an academic paper to analyze the current situation of the transportation industry. Smith believes that if a company is set up to transport goods with high priority and time, such as medicines and electronic components, there will be a great market. Traditionally, few parcels can be delivered directly to their destinations by means of post office, railway and special train, but most parcels have to go back and forth from one city to another or from one route to another before reaching their destinations. Doing so not only wastes money, but also wastes time. Therefore, a special mode of transportation should be adopted to solve these problems. This view is undoubtedly very insightful, but no one appreciated it at that time, because it was a very risky thing, and no one was willing to take such a risk. 1969, Smith decided to start his own business, seize this opportunity and realize his dream.
First, he set out to buy a major stake in Arkansas Aircraft Sales Company, which is headquartered in Little Rock and mainly provides maintenance services for turboprop aircraft. The company's sales are $654.38+00,000, and it often loses money. Obviously, it has no future. After Smith took over the company, he began to improve his business and turned it into a trading place for buying and selling second-hand jets. This change is very successful. In just two years, the income increased to 9 million US dollars and the profit reached 250,000 US dollars.
In the meantime, Smith carefully considered setting up a company that could deliver small packages to the destination overnight. At that time, there were several companies engaged in this business, among which Emmer was the largest. In 1969, each of them earned more than 1 100 million dollars.
Faced with such a market environment, Smith believes that only by providing better and more reliable services than these companies can we succeed. So Smith commissioned two consulting companies to study this market situation. The results show that people are extremely dissatisfied with the current transportation industry, and customers complain that their mail delivery is extremely abnormal and often late. Generally speaking, it is very unreliable. There are huge business opportunities in customer dissatisfaction, and customers need company A to deliver the collected small packages to company B in a short time. The results also show that customers are willing to pay extra fees for insurance courier companies.
After a series of investigation and demonstration, Smith began to organize such a company. Smith put all his eggs in one basket and took out all his capital of more than 8 million dollars as capital to prepare for a big fight. His investment courage influenced and attracted some investors, who joined in one after another and increased their investment by 40 million dollars. At this time, several banks also became interested in this behavior and invested more than 40 million US dollars. So the total investment of this company is as high as 90 million dollars! At that time, it was the largest single investment ever made by an American enterprise.
1 971June1day, the company was established, that is, "FedEx Company". From 197 1 to 1980, the company's total revenue has reached 590 million US dollars, and Smith's investment decision is very correct. Smith said, "Our adventure finally paid off. Facts have proved that our adventure is not blind, but a far-sighted investment behavior. "
Because of his initiative, Smith finally became the king of American express delivery. American business schools also analyze and study his adventure and entrepreneurial experience as a model of entrepreneurship.
Many people dare not take risks. Because adventure has many elements that represent failure. However, adventure is an essential quality of a businessman, and it can also be said that it is the true nature of a businessman. Successful businessman. Not only won't be afraid of adventure. You will also experience the pleasure of adventure. Many times, taking risks is not the most dangerous action, but watching a great opportunity slip away from you.
-Quoted from Yanbian People's Publishing House "Feeling Wealth"