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The Dip by Seth Godin pdf download

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The Dip by Seth Godin pdf download

Details of The Dip by Seth Godin Book

  • Book Name: The Dip
  • Authors: Seth Godin
  • Pages: 67
  • Genre: Self Help
  • Publish Date: May 10, 2007
  • Language: English
Book Review:

The Dip by Seth Godin Seth challenges the mantra winners never quit he says it's a spectacularly bad piece of advice should you have never quit wetting your bed should you have never quit that job at Burger King in high school or should you never quit selling a product that's obsolete winners quit all the time 

a winning investor quits investing money in a losing stock so he or she has money to invest in a winning stock if I never quit my investment in blockbuster five years ago I wouldn't have any money to invest in Netflix today winners know that they only have so much time money and daily energy 

so quitting is an essential strategy to take advantage of better opportunities and when it comes to your career and your business the only opportunity worth investing in is the opportunity to become number one Seth says if you're not going to get to 

number one you might as well quit now when Jack Welch was CEO of General Electric he quit funding any GE business that wasn't number one or number two in their respective markets by doing this he freed up capital to invest in product lines where GE was the best or had a high probability of becoming 

the best the result jack increased the GE market share from 12 billion to 280 billion over his 20 years of CEO it turns out that being number one is seriously underrated Seth says we reward the product with a song or the organization or the employee that is number one the rewards are heavily skewed 

so much so that is typical for number one to get ten times the benefit of number ten and a hundred times the benefit of number 100 becoming number one is such a wise investment of your time and effort because when you become number one you're the first thing on people's minds 

the most likely place that they'll invest their money what's the first thing that comes to mind when I say coffee shop or electric car I'd wager that most of you thought Starbucks and Tesla Motors for whatever reason we have agreed that these companies and products are the best in their space and because of the best they are the first thing 

we consider when buying something in that space but you might think becoming the best takes too damn long to be worth it well that may have been true at one time but thanks to Google it's now easier and more profitable than ever Google allows people to search for specific solutions to specific problems based on their specific preferences 

Seth says the mass market is dying there is no longer one best song or one best kind of coffee now there are a million micro markets but each micro market still has a best if your micro market is organic markets in Tulsa then that's your world and being 

the best in that world is the place to be if you're the best organic market in Tulsa people visiting Tulsa will find you with a simple Google search but you better be the best because they aren't gonna waste their time going to the fourth best market in the city unless they've already tried the top three 

so let's say that you stop doing everything that doesn't contribute to you being number one and commit your limited time money and energy to becoming the best in a desired field or micro market at first you're filled with excitement you're learning at a rapid rate getting lots of positive feedback and seeing results but then the novelty wears off and your results start to dip 

it's no longer fun it's frustrating at this point how can you tell if it's a dip with great results on the horizon or if it's heading towards a dead end to know if it's a dip or a dead end you need to know who you're influencing let's say you're trying to become the number one author of children's fantasy 

books you have a proposal for a new book and the goal is to influence your favorite publisher to accept your proposal and support your first children's book if you get rejected the first time 

you might persist but that persistence has its limits if that publisher isn't interested then your persistence can quickly turn into pestering making a wall between you and that publisher and making it impossible to change their mind but if you are trying to influence the publishing market 

then your persistence is likely to pay off after being rejected by several publishers you would find ways to improve your proposed and enough rejections your pitch and your proposal would be good enough for someone in the publishing market to consider you the fact that several publishers have rejected 

you doesn't matter much when there's many more publishers who've never heard of you with enough iterative improvement you'll eventually appeal to the interests of one publisher who will take a chance in your book and help you along the path to becoming 

number one when JK Rowling was proposing her fantasy book Harry Potter she got rejected 12 times but she kept persisting because she was trying to appeal to a market of publishers not an individual publisher 

so who are you trying to influence a market or an individual if you're influencing a market you're in a dip and it's time to persist to increase your odds of persisting through a dip and not quitting you need to decide when you'll quit before the dip starts when a smart investor purchases a stock he or she puts a stop loss limit on their purchase a condition that

if met will cause them to automatically sell their stock and accept the loss unless there is a fundamental change in the market the investor will remain committed to their investment until the predefined exit condition is met this prevents them from panicking exiting the position early and missing out on substantial returns before you invest in a dip 

you need to do the same ultra-marathoner dick collins once said decide before the race the conditions that will cause you to stop and drop out you don't want to be out there saying well gee my leg hurts I'm a little dehydrated I'm sleepy I'm tired and it's cold and windy and talk yourself into quitting if you are making a decision based on how you feel at that moment 

you will probably make the wrong decision to avoid making rash decisions and throwing away previous effort you need to determine your limits before entering a dip how much time are you willing to spend how much money are you willing to lose how much pain are you willing to go through 

before quitting with those limits in mind you need to make a quitting contract with yourself and vow to not quit unless you go beyond those limits or something fundamental changes with a quitting contract in place you can calmly face panic and setback by asking yourself have my predefined quitting conditions been met has something fundamental changed no okay then 

I need to stick with it in the end if you can't be the best it's time to quit quitting will free up precious resources so you have the opportunity to invest in activities that will allow you to become the best and the fastest way to become the best is to get through more dips that was the core message that 

I gather from Seth's book it's a short read and I highly recommend it for anyone who is scared to quit or simply quits whenever it gets too hard if you would like a one-page PDF summary of insights that I gathered from this book just click the link below and I'll be happy to email it to you.


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