Advice for Fledgling Companies from a Business Rescue Expert

Advice for Fledgling Companies from a Business Rescue Expert

Back in the 1970s, fresh faced graduate Fred Smith founded a new delivery company called FedEx with $4 million of inheritance and $80 million in loans and investments.

Just three years later, Smith’s fledgling company was floundering.

With just $5,000 in the bank and a fuel bill totalling $24,000, the future wasn’t looking bright.

So, what happened?

In a moment of madness (or business brilliance), Smith grabbed a taxi to the airport, bought a ticket to Las Vegas and headed straight for the nearest blackjack table. At the end of the night, he’d quintupled his stack and won enough cash to keep FexEx running for another month.

Fast forward a few decades and FedEx has grown into a global delivery powerhouse, employing over four hundred thousand people and processing 13 million shipments every single day.

Now, the point in this story isn’t to legitimise gambling as a fundraising tactics. (Seriously,…

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