Personal and Business SUCCESS Tips
Fred Smith -Founder of Federal Express Inc
His concept of “overnight delivery” was deemed unfeasible by his professor at that time he handed over his economics term paper.
Years later when he was dissatisfied with the slow delivery of engine parts for an aircraft business , he put the “overnight delivery” concept into practice .
He came up with a plan for creating an integrated air and ground delivery system in which packages from all over the country would be flown to a central point, or “hub,” sorted, and then flown out again along specific routes, or “spokes” to their destinations. Under this “hub and spokes” system, the flying would be done at night, when airlanes were comparatively empty. The airports used would be in sizable cities, and trucks would carry the packages to their final destinations, whether in those cities or smaller communities.
Fred Smith displayed entrepreneurial talents early in life. He learned to fly when he was 15 and took up crop dusting as a part-time hobby. At age 16, he and two friends formed Ardent Record Co., a business that still exists today. The young entrepreneurs operated the firm profitably and even produced a number of hits, including “Rock House” and “Big Satin Mama.”
People + Service = Profit
A key ingredient in Federal Express’ success has been a corporate philosophy that emphasizes treating its workers fairly. Managers are carefully trained to foster respect for all employees, and their performance is monitored. Managers are evaluated annually by both bosses and workers to ensure good relations between all levels of the company. Fred Smith believes that fair treatment instills company loyalty, and company loyalty always pays off.
Thank you for reading and I hope it has been helpful
Chin M C Best Selling Author The Art and Science of Success Vol 3