Rafi Ahmed on LinkedIn: FedEx was founded in 1971 by Frederick Smith with $4 million of… (2024)

Rafi Ahmed

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FedEx was founded in 1971 by Frederick Smith with $4 million of inheritance money and $80 million in loans and investments.Smith first proposed the idea behind FedEx in a writing assignment for one of his classes at Yale University, for which he earned a C.During the first two years in business, the company accumulated enormous amounts of debt due to rising fuel prices and was at the edge of bankruptcy.When funds dwindled down to just $5,000, Smith decided to fly to Las Vegas and gamble with the last of the money in an attempt to double it.Incredibly, Smith managed to turn $5,000 into $27,000 and was able to save the company by raising another $11 million.By 1976 FedEx had produced its first profit of $3.6 million.Seven years later FedEx became the first U.S. company to reach revenues of $1 billion within 10 years of the startup with no merger or acquisition and has been thriving ever since.Key Takeaway :Take your chances, Trust your instincts, Necessity is the mother of taking chances..Only those who will risk going too far can possibly find out how far it is possible to go!

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Ly N.

Helping businesses grow with geospatial data @ Echo Analytics | Business Intelligence | Sciences Po 19

3y

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I wanna add “patience and consistency” to the list, it’s very important to take the risk and keep moving forward to be succeed in anything we do

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    How green is Tesla/EVs!!!A typical 100-kilowatt-hour Tesla lithium-ion battery is built in Chinaon a largely coal-powered grid. Such an energy- and carbon intensive manufacturing process releases 13,500 kilograms of carbon dioxide emissions, roughly equivalent to the carbon pollution released by a conventional gasoline-powered car traveling 33,000 miles. That 33,000-miles figure assumes the Tesla is only recharged by 100 percent greentech generated electricity. More realistically?Most cars—EVs included—are driven during the day.That means they charge at night, when solar-generated electricity cannot be part of the fuel mix.Australia's Electricity Generation mix is made mostly of Fossil Fuels.Fossil fuels contributed 71% of total electricity generation in 2021, including coal (51%), gas (18%) and oil (2%).This electricity generation mix extends the “carbon break-even” point of the Tesla out to 65,000 miles in Australia.You decide...#energy #solar #china #manufacturing #electricity #cars #greentech #tesla #oil #gas #australia

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    In an Ordnance Factory’s ammunition manufacturing unit located in Kanpur- India, workers were required to wear special anti-static shoes. This was to prevent gun powder from being set off from static electricity when people walked around. These shoes were delicate and not designed to withstand everyday usage. Needless to say, these shoes were super costly too.Nonetheless workers still wore them outside the factory, walked on streets, rode bicycles etc. This withered the shoes off easily. The Ordnance factory was incurring a huge cost replacing these shoes.In-spite of repeated reminders, then pleading and finally multiple warnings, there was no change in the behavior of the workers.A committee was set-up to come up with a solution. After much thought, one of the members suggested that the next order for the shoes should be like this – Order all the right shoes in black and all the left shoes in white. No one will dare wear the contrasting pair of shoes outside in public. Amazingly this solved the problem!The biggest challenge in dealing with change is cooperation. People don’t resist change. They resist being changed. The impossible problem is solved when we see that the problem is only a tough decision waiting to be made.

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    A businessman walks into a bank and asks for a $100 loan. He offers his luxury Mercedes car as collateral. The collateral is too good, and the bank manager approves the loan. A year later, the businessman comes back. He repays the loan and the 10% interest and is ready to collect his car Finally, the puzzled bank manager dares to ask him: “Excuse me, sir, could you tell me: did you really need that $100 so badly? In order to get the money, you left your luxury car with us for a whole year! The Businessman replied, “That’s simple – just think outside the box: where else in this city, can I find such a great parking place for just $10 a year?” Key-Takeaway–The businessman probably had a certain criteria. He likely wanted his car to be safe, the solution to be legal, and to pay as little as possible. Taking this list, he matched each idea to see how it met his criteria, resulting in his bank-loan parking solution People believe thinking outside the box takes intelligence and creativity, but it’s mostly about independence. To solve any Problem, here are Three Questions to ask yourself: First, what could I Do? Second, what could I Read? And Third, Who could I Ask? Great creators dont necessarily have the deepest expertise but rather seek out the broadest perspectives

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    As business environments become more changeable and long-term growth rates decline, companies increasingly need to innovate—across their operations, offerings, and business models. We know the powerful effects of innovation, but what is upstream of innovation? How can we understand and shape the murky mental territory that leads to good ideas: the realm of imagination? Imagination is the ability to think counterfactually. Rather than living in the realm of what is, imagination gives us the ability to explore the realm of what is not but could be, enabling us to conceive and create new things and to shape what is.Below is a great article on this subject, highly recommended reading!!!!

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    A young man walks into a hardware store looking to buy a hammer, but they are sold out. “What did you need the hammer for?” asked the proprietor. The man looked at him quizzically. “To hammer in some nails of course. Why else would I want a hammer?”The store owner persists with another question. What were you trying to hammer in with the nails? “A shelf” the man replied. “Good” said the proprietor. Maybe these will be of use instead - we have a nail free wall glue in stock as well as free hanging shelves - would either be useful instead?Key Takeaway -Understand problems, not solutions!!! Many times in our eagerness to propose a solution we forget to understand the problem that the customer is trying to solve. It's always easier to suggest solutions when you don't know much about the problem. It pays to dig a little deeper to find out what your customers really need.“To get Game-Changing results, start focusing on Game-Changing thoughts.” – Robin Sharma.

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    For want of a nail a shoe was lost… For want of the shoe, a horse was lost…For want of the horse, a knight was lost…For want of the knight, a battle was lost… For want of the battle, a kingdom was lost, and all for want of a nail! Key Takeaway-This proverb, which dates back to at least the 14th Century, exemplifies the foremost challenge in critical thinking that is, developing a deep understanding of problems. The kingdom was lost because the battle was lost, and that's it. That is how news is typically reported, how history is typically written. The kingdom was lost due to a paucity of nails.... But, even that is over simplified. Was there a shortage of iron that led to the shortage of nails? Perhaps the shortage was due to bad inventory management, or perhaps, an incompetent apprentice. All of these factors and more could have played a part in the loss of the kingdom. The challenge is to understand the causal chain that led to the problem, identify the key links in that chain and how they relate to one another. Most problems, especially difficult problems, have multiple causes, and the obvious causes are rarely the root causes. The key is to start by asking the right questions!!! Remember the kingdom was lost for want of a nail...

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    The Dyson Vacuum Cleaner is known around the world as the vacuum that doesn’t lose suction. But the idea for it was born long ago. Dyson first had the idea in his early 30’s when he became frustrated with his Hoover vacuum and its loss of suction. His big idea was to use the concept of cyclonic separation to create the world’s first bagless vacuum cleaner. It took Dyson 5,126 failures to finally get it right. When he did, at the age of 36, he was faced with more resistance when no distributor in the UK would take on the revolutionary product. So, Dyson hit the Japanese market in 1983, with a hot pink version of his vacuum cleaner. It won an industrial award in Japan. However,manufacturers still didn’t want to take it on in other companies, so Dyson formed his own company, in 1993 at the age of 46, to market the product. Today,Dyson is worth more than $7 billion all because of his refusal to give up. Key takeaway-Sometimes, circ*mstances in our life make us feel that despite all the hard work we're doing, we’ve got nothing to show for it The challenges we face along the way are not meant to make us quit. The challenges strewn on our paths are meant to test our mettle,to see if we’re made of stronger stuff. Your victory is right around the corner. Don’t give up!

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Rafi Ahmed on LinkedIn: FedEx was founded in 1971 by Frederick Smith with $4 million of… (28)

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