🎯 The Core Idea
The Dip is about knowing when to quit and when to stick – and understanding that being the best in the world at something is incredibly valuable.
The catch? You have to pick the right thing and push through temporary challenges.
🌊 What’s “The Dip”?
The Dip is that long stretch between starting something and mastering it.
Think of it like this:
- Beginning = Fun and exciting! 🎉
- Middle = Hard and frustrating 😫
- Mastery = Incredibly rewarding 🏆
Most people quit in the middle – that’s why being the best is so valuable. The Dip creates scarcity, and scarcity creates value.
3 Types of Curves You’ll Face
- The Dip 📉📈: The temporary setback that you need to push through to become the best
- The Cul-de-Sac 🔄: When you work and work but nothing changes
- The Cliff 📉: Rare – when things get better and better until they suddenly collapse
🎯 Being “Best in the World” Means…
- Best for your specific audience
- Best in your specific market
- Best in their world (not THE world)
Example: Being the best gluten-free bakery in your city counts!
Why Being #1 Matters So Much
- People don’t have time to research every option
- The rewards are heavily skewed toward #1
- Example: #1 ice cream flavor (vanilla) sells WAY more than #10
- Being “pretty good” doesn’t cut it anymore
🚫 When to Quit
Quit strategically, not out of panic. Quit when:
- You’re in a Cul-de-Sac
- You’re facing a Cliff
- The Dip isn’t worth the reward
- You can’t be the best in the world at it
✅ When to Stick
Stay when:
- You’re in a Dip that’s worth pushing through
- You have the resources to reach the other side
- Being the best in that market is both possible and valuable
- You’re making measurable progress
3 Questions to Ask Before Quitting
- Am I panicking? (Don’t quit during panic)
- Who am I trying to influence? (One person or a market?)
- What measurable progress am I making?
🎯 Smart Quitting Strategies
- Decide in advance when you’ll quit
- Write down your quitting conditions
- Quit the right stuff to focus on what matters
- Don’t let pride keep you in a dead end
- Quit fast on tactics, stick long-term with strategy
Common Mistakes to Avoid
- Being “well-rounded” instead of exceptional
- Coping instead of quitting or excelling
- Starting too many things (serial quitting)
- Spreading yourself too thin
- Staying in a Cul-de-Sac out of pride
🌟 Success Principles
- Pick your Dip carefully – make sure it’s worth the effort
- Lean into the Dip – don’t just survive it
- Focus your resources – quit everything else
- Be exceptional – average is for losers
- Choose the right market size for your resources
Final Thoughts 💭
The author stresses that successful people quit all the time – they just quit the right things at the right time. The goal is to:
- Quit fast what you can’t be best at
- Stick with what you can dominate
- Use your limited resources wisely
- Push through the Dips that matter
Remember: If you’re not going to try to be the best in the world, you might as well quit now. But “best in the world” means best in YOUR world – which might be smaller than you think, and that’s okay!