Desperate for Funding? Don’t Try This at Home!

In the life of any business there comes a time when things seem not to add up to an acceptable result. The orders seem not to flow at the rate that would be ideal for growth, the money runs out, customers are flowing but there’s not enough of them to make ends meet… in short, times when your home business needs a boost of finances to stay afloat. Such desperate times may call for desperate measures – another loan from the bank, from the family or friends, selling a car… or giving chance a chance? To play video poker and win, to give yourself the chance to hit the jackpot at the All Slots or give blackjack a go might seem like a good idea at times when you are desperate to raise money in any way you can. Others have reached this point – and not home businesses but major service providers. Like the one below.

Big dreams

While in college in 1962, Frederick Smith wrote a paper about the automation of society and the transportation of goods – and it became the backbone of his company later. After nine years, he founded Federal Express, a company with its own fleet of eight planes, covering 35 cities at the time. His idea was to offer overnight parcel delivery services – and it seemed to work for a while – but then the company’s funds, formed using his inheritance of $4 million and $80 million in bank loans, ran dry after just two years of operation – thanks mostly to the rising fuel costs. So much so, that pilots often fueled their planes using their personal money.

At one time, the company reached the bottom of the sack – it only had $5000 in funds, not enough to fuel the planes for another day. It was surely the most desperate of times for Federal Express.

Giving chance a chance

Desperate times call for desperate measures, they say – and Smith has reached a situation where leaving his company’s fate in the hands of chance seemed like a good idea. He took the last $5000, flew to Las Vegas, and played blackjack with them over the weekend. And this time, luck was on his side – he turned the $5000 into $27000, just enough to keep the company alive for another week.

While the win didn’t solve the company’s issues, in the long run, it gave Smith hope and motivation to keep fighting. He obtained more funding for the company, raising $11 million, and he launched a direct advertising campaign and boosted the company’s visibility. In five years, the company posted its first yearly profit of $3.6 million, and never stopped growing ever since.

Today, FedEx delivers over 1 billion packages yearly, and covers over 220 countries.

Desperate times

While it may seem like an attractive idea to raise funds for your business by playing to win at the All Jackpots Casino, it may not be the best way to raise money – not even in desperate times. After all, playing games at the All Slots is entertainment; you can’t base the future of your company on a certified random game. What would’ve become of FedEx if he would have lost? I guess we’ll never know…

Hundreds of Business Opportunities – Visit the Home Business EXPO

The post Desperate for Funding? Don’t Try This at Home! appeared first on Home Business Magazine.