In the early days of Research in Motion (RIM), founders Mike Lazaridis and Doug Fregin were involved in modest ventures such as designing computer solutions for local technology companies and creating devices like Budgie. Despite Lazaridis's ambitious goals, they struggled financially for the first five years, working above a Waterloo bagel store designing electrical components. This shows that RIM's journey to becoming a multi-billion dollar market leader was not straightforward and involved overcoming significant challenges.

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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 unity, and the wrong strategic plan led to the fa...

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Mike Lazaridis and Doug Fregin spent Research in Motion's, or RIM's, early days pursuing modest ventures such as designing computer solutions for local technology companies and creating other devices like Budgie. Though Lazaridis in particular had ambitious goals, still five years into the venture the pair were still struggling to pay the bills, working above a Waterloo bagel store designing electrical components.

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A startup can avoid the pitfalls faced by RIM by learning from their mistakes. First, it's crucial to maintain unity within the team and avoid internal conflicts. Second, having a clear and adaptable strategic plan is essential. Third, protecting intellectual property through patents can prevent others from copying your innovations. Lastly, staying focused and not getting distracted by side ventures can ensure that resources are effectively used for the main goals.

RIM's downfall was influenced by several strategic missteps. Firstly, they failed to adapt to the changing market dynamics and consumer preferences. They stuck to their original business model and product design, even as smartphones became more popular. Secondly, they underestimated the competition, particularly from Apple and Android. They didn't anticipate the shift towards apps and touchscreens, and their products became outdated. Lastly, internal conflicts and lack of unity also played a part in their downfall.

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