The Dip

I listened to a podcast this week called What You Will Learn where the hosts were discussing Seth Godin’s book, The Dip. The Dip is a figurative location that describes a low point in your personal or professional life where you either give up or keep going.

For any worthwhile endeavor, arriving at the dip is inevitable. The typical cycle begins with a strong start in the beginning, then you struggle for a while, then you either quit during the struggle or you keep pushing until you’ve reached your goal. Godin suggests that sometimes it’s beneficial to quit things that are a dead end or will lead you to personal or professional ruin.

One interesting observation from the podcast was how the concept of “the dip” applies in the business world. Because of heightened competition, there tends to be an increasing smaller group of businesses that do really, really well, and everyone else is just average. One reason for this is we no longer live in a society where access to the best products or services is constrained by where we live or who we know. As a result, companies that consistently deliver better products and provide top-tier service tend to do better, and average companies just survive or maybe even go out of business. This phenomenon is often called the Matthew Effect. The Matthew Effect is a reference to a parable in the Bible that states to he who has, more will be given. And to he who has not, what…