1. Ambition and determination are key: Balsillie's story shows that having a clear plan and being determined to achieve it can lead to success. He set high goals for himself and worked hard to achieve them.

2. Embrace your underdog status: Balsillie believed he was an underdog due to his working-class background and lack of connections. Instead of letting this hold him back, he used it as motivation to change the world.

3. Be prepared for challenges: Balsillie's story also shows that success doesn't come without challenges. Entrepreneurs should be prepared to face and overcome obstacles on their path to success.

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Yes, there are several examples of companies that have successfully overcome the underdog status. One such example is Apple Inc. which was on the verge of bankruptcy in 1997 but managed to turn around under the leadership of Steve Jobs. Another example is Netflix, which started as a DVD rental service and faced stiff competition from established players like Blockbuster. However, with its innovative business model of streaming content, it managed to become a leading player in the entertainment industry.

Balsillie's three-part plan for success can teach us several strategies. First, the importance of setting clear and ambitious goals. Balsillie aimed to enter an elite undergraduate institution, land a good job in accounting at the firm Clarkson Gordon, and graduate from Harvard Business School. Second, the value of perseverance. Despite the lofty nature of his goals, Balsillie succeeded on all fronts. Lastly, the power of determination. Balsillie was determined to change a world he believed was stacked against people who shared his working-class background and lack of connections.

The story of RIM's rise and fall can serve as a lesson for startups in several ways. Firstly, it highlights the importance of maintaining strong relationships and unity within the company. Disagreements and lack of unity can lead to strategic missteps and ultimately, the downfall of the company. Secondly, it underscores the significance of having a sound strategic plan. RIM's downfall was partly due to the wrong strategic plan. Lastly, it emphasizes the need to stay ahead of the curve and continuously innovate. RIM failed to adapt to the changing market dynamics and was eventually disrupted by competitors.

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Losing the Signal

The Kodak of smartphones, RIMs rise and fall, is an epic tale of how relationships, patents, lack of...

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