Anyone remember this logo?! Man, I do. I rarely talk about hardware but I study failures more than successes. Here are some things I was studying tonight as I vet a hardware investment opportunity. I want to see what separates the winners vs losers. I usually read Jim Collins books (built to last and good to great) over and over and study the winners vs losers. Today lets discuss #blackberry !!😱😩 Here is what I learned about blackberry’s failure, it was no shock to anyone when they lost $372 million in one year and finally decided to shelf their hardware business which made smartphones.
1. You have to keep innovating! They were too late to “smart mobile” devices.
2. They focused on the wrong market, Enterprise vs Consumer
3. They couldn’t shake their “uncool” reputation
4. Their Operating System sucked, and they wouldn’t open it. Also, app developers weren’t willing to build for BlackBerry’s platform. Double death pill.
5. The hardware specifically the camera almost single-handedly killed them, including some of its recent Android-based ones.
6. The pricing was too high, right up there with iPhones and androids.
7. They help BBM too tight! They withheld it from iOS and Android users till mid-2013. By this time WhatsApp had become the premier messaging platform for mobile users.
If you run a company study the Japanese philosophy if Kaizen, instead of punishing employees for errors they company encourages workers to stop working and fix problems or provide feedback or suggestions to improve the business instantly. It results in fewer errors and constant improvement. Learn from failures and errors and build great businesses!