• #144: FedEx – When it has to be there the next day.

  • Mar 14 2024
  • Durata: 21 min
  • Podcast
#144: FedEx – When it has to be there the next day. copertina

#144: FedEx – When it has to be there the next day.

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  • Riassunto

  • Fred Smith came up with the idea of hub based courier service in school and the teachers gave him a "C". Jokes on them! Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom and pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So here's one of those. [Irock Plumbing Ad] Dave Young: Welcome to the Empire Builders Podcast. I'm Dave Young alongside Stephen Semple, and we're talking about empires that were built, industries that were shaken up in the process. What better one to talk about than FedEx? Well, you mentioned FedEx, but if we're going back to the beginning, we're going to say Federal Express, right? Stephen Semple: True enough, true enough. That's right on the ball. Dave Young: Yeah. Stephen Semple: Absolutely. Dave Young: We're both old enough that we remember these things. Stephen Semple: I'm trying to be in denial around that. Dave Young: As these companies celebrate their 50th year in business, and I'm like, "Oh, yeah. Yeah, I remember them coming on board. Uh-huh, yeah, sure." Stephen Semple: Well, it's like the one that got me the other day is Sopranos 25th- Dave Young: Oh my God. Stephen Semple: It was 25 years ago, and I'm like, "No, no, please, God, no. Dave Young: Well, and for 20 years I've been thinking that the '80s was 20 years ago. Apparently, that's no longer the case. Stephen Semple: Should we talk about Federal Express? Dave Young: Federal Express, absolutely. The most memorable thing about them was, first, how disruptive they were, but their ad campaign was absolutely fabulous, the fast-talking dude. Stephen Semple: Yeah, we definitely want to talk about it. But here's the interesting thing. Fred Smith, who founded Federal Express, he came from a real transportation background. His father founded Greyhound. Dave Young: Well, there you go. Stephen Semple: So he came from some money. He created this idea of the hub delivery system. The whole idea with Federal Express is what they invented, and everybody does it today, was instead of something going from point A to point B, everything would go to a central hub, be sorted. It may actually travel further but is actually more efficient. Here's the crazy thing is he came up with this idea as a class project when he was in university, and his teacher gave him a C. Said it was a terrible idea. Dave Young: It's terrible. That'll never- Stephen Semple: Never, never, never going to work. Also at the time, you got to remember, both UPS and the post office did not own their own planes. They relied, if anything was being air freighted, on airlines, and at the time, carrying packages by air was a secondary business for airlines. Dave Young: Gotcha. Stephen Semple: So literally, if there was no room for a package, it didn't go, or packages got bumped for people. Dave Young: What year are we talking about? What year was it when he was in school and came up with this stupid idea? Stephen Semple: I'm not sure what year he was in school. But really, 1970 was a real turning point for UPS. Dave Young: Oh, wow. Stephen Semple: It would've been before that. Going back to Fred Smith, he inherits some money. His dad also had an aviation business, so he decides to sink the money into that aviation business. He's doing corporate aviation, private jets. What he's doing is he is buying them, fixing them up, and selling them. So he's constantly looking for refurbished parts and things along that line. When he buys the business, he really grows it.
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Sintesi dell'editore

Fred Smith came up with the idea of hub based courier service in school and the teachers gave him a "C". Jokes on them! Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom and pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So here's one of those. [Irock Plumbing Ad] Dave Young: Welcome to the Empire Builders Podcast. I'm Dave Young alongside Stephen Semple, and we're talking about empires that were built, industries that were shaken up in the process. What better one to talk about than FedEx? Well, you mentioned FedEx, but if we're going back to the beginning, we're going to say Federal Express, right? Stephen Semple: True enough, true enough. That's right on the ball. Dave Young: Yeah. Stephen Semple: Absolutely. Dave Young: We're both old enough that we remember these things. Stephen Semple: I'm trying to be in denial around that. Dave Young: As these companies celebrate their 50th year in business, and I'm like, "Oh, yeah. Yeah, I remember them coming on board. Uh-huh, yeah, sure." Stephen Semple: Well, it's like the one that got me the other day is Sopranos 25th- Dave Young: Oh my God. Stephen Semple: It was 25 years ago, and I'm like, "No, no, please, God, no. Dave Young: Well, and for 20 years I've been thinking that the '80s was 20 years ago. Apparently, that's no longer the case. Stephen Semple: Should we talk about Federal Express? Dave Young: Federal Express, absolutely. The most memorable thing about them was, first, how disruptive they were, but their ad campaign was absolutely fabulous, the fast-talking dude. Stephen Semple: Yeah, we definitely want to talk about it. But here's the interesting thing. Fred Smith, who founded Federal Express, he came from a real transportation background. His father founded Greyhound. Dave Young: Well, there you go. Stephen Semple: So he came from some money. He created this idea of the hub delivery system. The whole idea with Federal Express is what they invented, and everybody does it today, was instead of something going from point A to point B, everything would go to a central hub, be sorted. It may actually travel further but is actually more efficient. Here's the crazy thing is he came up with this idea as a class project when he was in university, and his teacher gave him a C. Said it was a terrible idea. Dave Young: It's terrible. That'll never- Stephen Semple: Never, never, never going to work. Also at the time, you got to remember, both UPS and the post office did not own their own planes. They relied, if anything was being air freighted, on airlines, and at the time, carrying packages by air was a secondary business for airlines. Dave Young: Gotcha. Stephen Semple: So literally, if there was no room for a package, it didn't go, or packages got bumped for people. Dave Young: What year are we talking about? What year was it when he was in school and came up with this stupid idea? Stephen Semple: I'm not sure what year he was in school. But really, 1970 was a real turning point for UPS. Dave Young: Oh, wow. Stephen Semple: It would've been before that. Going back to Fred Smith, he inherits some money. His dad also had an aviation business, so he decides to sink the money into that aviation business. He's doing corporate aviation, private jets. What he's doing is he is buying them, fixing them up, and selling them. So he's constantly looking for refurbished parts and things along that line. When he buys the business, he really grows it.
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