If you are a management student and have been awarded a “C” in a business development assignment by your teacher, will you move forward with that idea?
It is true for Fred Smith.
In 1965 Frederick W Smith wrote a term paper about a fast and efficient shipment of goods based on the problems based on the logistics industry.
In his paper, he even talked and designed a system for movement of time-sensitive cargo such as medicine, computer parts, and electronics.
He got a ‘C’ grade!
In 1971 Fred moved on with the idea and bought a controlling interest in Arkansas Aviation Sales. While operating in his new firm he first-hand saw the difficulties about packaging and overfreight delivery within one to days.
It was in the year 1973 when federal express begins their official operations. That night 14 planes delivered 186 packages across 25 cities.
It may seem to you as a success story but the company was at a loss, losing up to million dollars a month.
Investors refused to put in any more money, the company didn’t even have sufficient fund for fueling of the flights.
Smith took an impulsive action and took a flight to las vegas, gambled and won $27,000. It wasn’t a decisive amount but it did help for flights refueling.
Later on, Smith raised $50 to 70 million from 20 different venture capital firms.
Today this company is called FedEx, valued at somewhere around $51.6 billion and has a fleet of 673 flights.
The point of this story was to implicate that if you believe you can achieve what you want, irrespective of your grades.
All you need is lots of believe, lots of dedication, a necessary amount of hard work and now all you need is a pinch of luck which is a bonus item you get for free if you had the other three.