Table of contents
Seth Goden, the author of "The Dip" (amazon link) has written over a dozen bestselling books.
"A short read that should be on every entrepreneur's book list."
This 96-page book is to the point that focuses on when to stick out your project and when to quit.
These are the 6 most valuable lessons I learned from "The Dip" to find out whether to quit (or stick), recommended for people with many different interests
👎 #1 Only losers quit.
That's what many people think.
Strategically quitting to have the time and resources for the thing you are really good at and could even become #1 in the world, however, shows strength and intelligence.
It is the act of a winner to quit the right thing at the right time. 🏆
👩⚕️ #2 If you were seriously ill, would you choose the doctor who is #4 in the field and specializes in three other illnesses or the best doctor who specializes only in this specific illness you have?
Another question: If you desperately needed a hair dryer, would you choose the one with an average rating or the absolute best one, also with a special recommended sign on amazon? Often we choose the path of least resistance.
💯 #3 Could you be the best in the world in this specific micro area (niche) in 2, 3, 5, or 10 years?
If the answer is "no", the answer if you should quit is "Yes", Seth Goden states.
🍦 #4 Vanilla Ice-cream is clearly in first place with a 28% sales rate in contrast to chocolate with 8%.
If you are the best at anything it means you get a quantum more benefit than being second.
This phenomenon is called Zipf's Law. To get into the Vanilla Icecream position, look for the thing/niche that has a very deep dip.
Most of the competitors will quit, while you know that you are only experiencing the dip.
Btw I listened to "The Dip" on Audible. (1h 20min, 1x speed)
🎮 #5 Lately, I focused on easy tasks.
But to become the best in your field, it is necessary to answer the hard questions no one else wants to answer. What the dip does, is separate the best from the outstanding. The outstanding then add value.
💔 #6 We avoid small short-term pain even though we know that going through it would get us long-term pleasure
(When being in the dip) go through the stress and pain and visualize what you will have long-term in the future. (easily said)
Are there points you disagree with?
Want to build a morning routine? This would be a perfect fit then.