Wednesday, August 08, 2007

Book summary: The Dip-dumb title, uncommon common sense

The Dip: A Little Book that Teaches You When to Quit (and When to Stick)
Seth Godin
Portfolio (Penguin Group)

It seems Vince Lombardi was wrong after all. Winners DO quit. Godin's teeny, tiny book tells you to quit the wrong stuff, but stick with the right stuff. He exhorts yu to have the guts to do one or the other.
Our culture rewards superstars so being the best at something really matters financially. We learn in school that it is important to be well rounded. This is wrong. Strategic quitting is the secret to success.
When you first start anything new , it's fun. Eventually you come to "the dip," the long slog beftween starting and mastery. Successful people don't just endure the dip; they push through it changing rules as they go.
If you come to a dead end, hard work doesn't help. The situation doesn't get better not does it get worse. It justs lingers as is. If you are in a cul-de-sac, quit. Fast.
Dips create scarcity and scarcity creates value. If you make it through the dip, you can become the best in the world.
The opposite of quitting is rededication. When the pain gets so bad that you want to quit, take chances.
Quitting is not the same as failing. Coping never leads to exceptional performance. Pride is the enemy of the smart quitter.
Three questions to ask: are you panicking? are you trying to influence just one person or a market? what sort of measurable progress are you making? Decide in advance what circumstances would make you quit. We fail when we get distracted by tasks we don't have the guts to quit.

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