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Father of the Overnight Delivery Business: How Smith Revolutionized an Industry
Article Overview: “I would like to sit down some time and put a few thoughts down on paper,” says Smith. “I've got a few observations that might be useful for someone. It'd be fun for me to do it, and I intend to at some point. Other than that, I enjoy my family, enjoy the business and get to see a lot of the world, so I have no complaints.”
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Father of the Overnight Delivery Business: How Smith Revolutionized an Industry
“I would like to sit down some time and put a few thoughts down on paper,” says Smith. “I've got a few observations that might be useful for someone. It'd be fun for me to do it, and I intend to at some point. Other than that, I enjoy my family, enjoy the business and get to see a lot of the world, so I have no complaints.”
And so he shouldn’t. With Federal Express ranking fourth on Fortune Magazine’s 2006 list of the World’s Most Admired Companies, Smith has little to complain about. How did this one-time pilot become one of the most successful businessmen in America?
He Took Risks: “Luck, naïveté, willingness to roll the dice to do something productive, were all individual parts of the puzzle,” says Smith. He knew that what he had written about in his Yale essay was a revolutionary idea that would get few supporters at first. But, Smith was also convinced that it was an idea that could and would work. It was his enthusiasm and readiness to take a chance that propelled Smith to the top.
He Was Determined: “You've got to enjoy what you're doing, and have some fun, and be able to laugh at yourself a bit,” says Smith. Indeed, the path to success is never a smooth one, and Smith was not immune to hardship. But, from his critics to his own mistakes, Smith bounced back even more determined to persevere, using each opportunity as a lesson and further fuel for his fire and desire to succeed.
He Worked As a Team: “I don't think we have many people who've worked at FedEx, particularly in the executive ranks, who don't have good feelings about the company,” says Smith. “I hope that's because they feel they were treated fairly and got their shot at glory and opportunity.” From the plant workers to the pilots to senior management, Smith worked hard to ensure that everyone at Federal Express felt like they were a valued part of the team.
He Guaranteed Quality: With a corporate money-back guarantee that is good down to a 60-second delay, Smith has built a reputation on ensuring top quality and efficient service. By focusing on continuous improvement and being unsatisfied with even the slightest margin of error, Smith grew his company to become synonymous with excellence.
He Was Adaptable: “We have a culture that allows us to change without threatening the people that work at the company,” says Smith. Smith knew that a static company would quickly become an unsuccessful company. Unless he was able to create a flexible management system that could respond to the demands of the changing economy, Smith knew that his company would not last very long. By staying on top of current trends, Federal Express has also stayed at the top of its industry.
When Smith received back his Yale University paper that first outlined his idea for Federal Express, the management professor had written on it: “The concept is interesting and well-formed, but in order to earn better than a 'C', the idea must be feasible.” Smith proved his professor wrong by creating his billion-dollar company and making it a leader in its field for almost 40 years. “If you keep working at it, in the last analysis, you win,” says Smith. “They’ve got to kill us a hundred times. All we have to do is kill them once.”
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Re: Broken delivery guarantees
- Well just as an update, the package finally arrived on September 4th, which means the FedEx "Overnight Standard Delivery" turned out to take 4 days!
I decided to just keep the order since it caused so much trouble. Moreover, I don't want to have to deal with FedEx again to return the parcel back to the vendor.
Joke of the Day
- Here's one I received via email recently, I trust no one finds it offensive, if you do please be sure to let me know!
MY DAD IS A FATHER
A little boy got on the bus, sat next to a man reading a book, and noticed he had his collar on backwards. The little boy asked why he wore his collar that way.
The man, who was a priest, said, "I am a Father."
The little boy replied, "My daddy doesn't wear his collar like that."
The priest looked up from his book and answered, "I am the Father of many."
The boy said, "My dad has 4 boys, 4 girls and two grandchildren and he doesn't wear his collar that way."
The priest, getting impatient, said, "I am the Father of hundreds," and went back to reading his book.
The little boy sat quietly thinking for a while, then leaned over and said, "Maybe you should wear your pants backwards instead of your collar."
Broken delivery guarantees
- Hi Everyone,
I recently had a bad online purchasing experience due delivery problems. A tennis retailer I ordered from had used FedEx's Standard Overnight shipping to try and deliver my package to my friend's place in NY on Friday, August 29th. However, since my friend was at work and the condo doorman was perhaps on a break, FedEx brought it back to their depot. Keep in mind that I was only in NY for the long weekend, so I wouldn't even be able to get my order when they try to make a 2nd delivery attempt.
So what's the point of calling it "Overnight delivery" when I didn't end up getting my package the next day? Most residential addresses won't have anyone at home to accept parcels because everyone is at work, so why even bother trying to deliver something during the day if you can't leave it there?
And get this, FedEx then tries to deliver the goods again on Tues, Sept 2nd but reports it's the "incorrect address" and there's no such place. But then how come they found condo on Aug 29th? My order was just shipping in their depot on Sept 3rd and according to their online tracking, it's supposed to be delivered sometime today on Sept 4th. We'll see.
FedEx's Overnight shipping has turned into 3+ days shipping.
What would you do?
I was so infuriated that I wanted to just cancel the order and ask FedEx to return it back to the retailer.
I've never had any of these sort of problems with UPS.
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: "How to Cold Call a Big Customer"
- One comment I have here is to try to help your prospects, and here is an example what I mean by that:
Ask if they can use your help. “My name is John Smith and I help homeowners keep their homes up to date. What are your problems with home maintenance?” And wait for their response.
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