Fred Smith met the challenge of life very early.His father died when he was four years old. When he was eight years old, he got sick and the development of his right leg was affected. For two and a half years, he could only walk with crutches.But instead of succumbing to fate, he became one of the greatest entrepreneurs in American history through indomitable self struggle.Later, it was praised as "the person who created a new industry".In 2019, Forbes ranked 478 in the global billionaire list, with a wealth of 4.1 billion dollars.[1]
Fred Smith excelled in school when he was a child, and he went to school when he was 15University of MemphisA preparatory course for.There he formed a partnership with two classmates and opened a recording studio with 5000 dollars borrowed from his parents.He likes to make friends and is popular. He is eager to start his own business.
In the 1960s, he enrolled in the Marine Corps Reserve Officer Training Course.
In the fall of 1962, he enteredYale UniversityHe studied economics and political science. His academic performance was not very outstanding, but he was more interested in social life. He once worked as a campus record program announcer.
In 1965, he wrote an economic report of less than 15 pages, which later becameFedExGuidance document.
After graduation in 1966, he was appointed a lieutenant by the Marine Corps and served two terms in Vietnam.
After his retirement in 1969, he started his career in the business world according to his hobby of flying.
Fred Smith
At the same time, Smith envisioned setting up a company that could deliver small parcels overnight. After careful consideration, Smith made a major gamble and invested his total capital of more than 8 million dollars.This kind of venture capital has impressed some investors, and has successively invested 40 million dollars. Several interested banks have put out the same amount of money, bringing the total amount to 90 million dollars, which is the largest single investment in American business history.
In 1971, Fred Smith, 27, began to truly implement the entrepreneurial dream of "next day delivery" service.
On May 28, 1971, SmithMemphisHe took his plan to attend the family fund, Frederick Smith EnterpriseBoard of Directors。therefore,FedExIt was established on June 1, 1971 and officially opened on April 17, 1973.
FedExThere are 141000 employees;The global service covers 211 countries.
Smith has ten children and a pilot license.He was the chairman of the American Chinese Chamber of Commerce and the American French Chamber of Commerce.Smith also owns a film studio, Alcon, which produced My Dog Skip.The reason for investing in this company was that two young men from Princeton asked him to promote the entrepreneurial plan of "what no one has done before, but what they can do". He was moved because "they remind me of myself".
He was listed《Forbes》The list of the richest people in the United States has been one of the highest paid CEOs since 1999.
well-known saying
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Fred Smith
Fred Smith: I think that most of the time, the biggest risk an entrepreneur has to face is internal.They must decide that this is something they want to spend their life time and energy on, not something else, because many new ideas will indeed encounter significant resistance.Sometimes the resistance comes from the market, sometimes from the capital, sometimes from the strong enemy.However, it requires enthusiastic work to turn the thoughtful ideas into successful reality step by step.Many people succeed at first, but they can't keep on.Therefore, I think that if someone wants to become an entrepreneur, he must first overcome this difficulty, and the entrepreneur must reflect on his soul: "Do I make this idea a success day after day, month after month, and persevere?" This is not something that everyone can do.
Entrepreneurship experience
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1. Never do something that someone has already done.
2. CEO should be a strategist first.
3. You must be extremely persistent and enthusiastic about your creativity.
4. Have a sober, sustainable and relatively conservative business operation plan.
5. Strive for the cooperation of as many people as possible.
6. Constantly absorb new knowledge.
To understandFedExThe management essence of Fred Smith, the father, might as well listen to his own words: "In fact, the turning point in my life was not the creation of FedEx, but the Vietnam War. Because in the battle command career of the Marine Corps, I learned more about the working class in society, how they think and how they treat life.After the Vietnam War, I can never go back to campus life. "
Fred Smith's philosophy of leadership is derived from the Marine Corps rules with a history of 200 years.When soldiers come into your office, they want to know: What task will you give me, sir?What can I get after completing the task?What do I need to do to perform the task?If I get unfair treatment, which department should I go to to complain?This is a universal truth that everyone is willing to know.If you can answer these questions clearly every time, you will be good at communicating with people and solve business problems.
Summing up Smith's Marine Corps rules, we can get several ideas of his success;Never do what someone has already done;Must be extremely persistent and enthusiastic about their own creativity;Investors must see a sober, sustainable and relatively conservative business operation plan;We must get the cooperation of as many people as possible;Constantly absorb new knowledge.It is these clear and simple ideas that makeFedExBecome a global household name.
Successful transition
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（1） First, there is a process of continuous self-education.There are many differentEducational approachAnd information to enable entrepreneurs to learn and master the management of a large company must know.
（2） Secondly, entrepreneurs mustBoard of DirectorsFull of talented peopletop management There are many experienced people in the circle.withMichael DellFor example, he used to be a good customer of FedEx.DellWe have introduced some professional managers from outside to help us achieve the transition.
Wealth ranking
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On April 7, 2020, Fred Smith ranked 764 on the 2020 Forbes Global Billionaires List with a wealth of 2.7 billion US dollars.[2]
In 2020, Fred Smith ranked 197th on the 2020 Forbes America Rich List with a wealth of 3.9 billion US dollars.[3]
In April 2021, it ranked 486 on the 2021 Forbes Global Rich List with a wealth of 5.7 billion US dollars.[4]
In 2022, it will be ranked 601 on the Forbes Global Billionaires List in 2022 with a wealth of US $4.7 billion.[5]
On March 23, 2023, the Hurun Research Institute released the Hurun Global Rich List 2023. Frederick Smith ranked 708 with a wealth of 29.5 billion.[6]
On March 25, 2024, Hurun Research Institute released the Hurun 2024 Global Rich List, and Frederick Smith ranked 530 with a wealth of 42.5 billion yuan.[7]
