Lessons from a blackberry billionaire user
Do you own a cell phone?
I bet you do.
I use a crackberry. I mean a Blackberry because hey I am Canadian and it is a Canadian company even though president Obama has one too like me.
Now back to the cell phone more specifically the Blackberry business and its owner.
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In 1984 two engineering students, Mike Lazaridis of the University of Waterloo and Douglas Fregin from the University of Windsor co-found Research in Motion. The company was set up as an electronics and computer science consulting business based in Waterloo. Within four years, the company would focus on the transmission of wireless data and setting up of wireless point-of-sale customer terminals using radio waves.
It all started with a one-way wireless device used for business communications like processing credit card sales. The company hit the jackpot when they shifted their focus to two-way wireless communications.
It was a miracle. Now you could send and receive emails.
Mike Lazaridis was the brain and Jim Balsillie the business man.
Jim Balsillie was born in Seaforth, Ontario, and raised in Peterborough, Ontario, where his family relocated in 1966. He received a Bachelor of Commerce degree from Trinity College at the University of Toronto, where he was admitted to the Zeta Psi fraternity. He earned an MBA from Harvard University in 1989. In 2003, he was elected a Fellow of the Institute of Chartered Accountants of Ontario (FCA).
In 1992, Jim put $250,000 of his own money into RIM (Research in Motion).
The whole cellular business was starting to boom and he steps in at the right time.
Any BIG company has obstacles to overcome along the way. Two inventors from Illinois sue RIM for patent infringement. RIM finally settles with a payout of $650 million. Hey they can afford it. That's what big companies are their for.
Today Jim is worth approximately $2.3 BILLION. Not even close to what I am worth!
Note in the video you are about to watch when he talks about the ingredient you need to make a business a success. It always comes back down to that one ingredient.
Also since looking at Steve Jobs and the iPhone, I think you have to be partially bald in some way. Just rub your forehead and the money-making ideas pour out. Go ahead and rub your head even if you still have hair then watch the video below :-) !
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Just Imagine Your Success And Do It Now,