A Worthy Gamble

FedEx founder Fred Smith’s father founded Dixie Greyhound Bus Lines, and with his brother, a chain of Southern-food restaurants which were sold after his death, in 1961, for $22-million. Ultimately, Fred had to gamble his entire inheritance of $8-million plus the small company he’d built, that bought and sold used airplanes, in order to raise another $40-million from private investors to launch FedEx.

Yes, the legend is true: Fred’s college professor gave him only a ‘C’ on the term paper that would later be the business plan for Federal Express. FedEx began operations on April 17, 1973.

At numerous times, the company was in dire financial straits. Once Fred sold his private plane to pay bills. Another time, he met payroll with $27,000.00 won at blackjack.

How far are YOU willing to go for what you want?