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5 Quick-Thinking Solutions That Saved Durable Businesses

3 84 28
20.03.2019

Emergencies and unexpected developments are part of being an entrepreneur. No matter how well you plan or how far ahead you think, you’ll eventually be forced to pay an unexpected expense, deal with an equipment malfunction, or face the consequences of a full-staff departure.

There are always ways around these challenges, whether you take out a short-term loan or hire temporary workers. But how you respond to these challenges will define you and shape your business for years to come.

Related: 5 Preventable Disasters That Have Ruined Countless Startups

Take inspiration from these successful businesses, all of which were saved from a risky situation, thanks to quick-thinking and quick-acting leaders.

FedEx couldn’t have foreseen the tumult from high fuel costs in the 1970s, with pilots using their personal credit cards and avoiding cashing their paychecks to keep their planes fueled. At one point, the company faced millions of dollars in debt, with $5,000 in reserve.

That’s when founder Frederick Smith knew he had to do something fast. His decision was to fly to Las Vegas and gamble the last of the money. Though........

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