The Dip by Seth Godin describes a personal approach to achievement by following a strategy of quality in a world of micromarkets. I’ve read the summary and have tried to further summarize it:
- You start by finding a micromarket where you can be the best in the world, whether it’s personal financial planning for new parents in Brooklyn or “gluten-free bialys available by overnight shipping.†What constitutes “best” and “the world” is in the eye of the customer, not you.
- Then you work long and hard to be the best in that micromarket, which will involve slogging through “the dip†where reward is low and effort is high.
- Along the way you need to be careful to “quit the stuff where you can’t be the best. That leaves you the resources to invest in getting through the Dip.â€
That’s the functional summary, you’ll have to read the book to be inspired.
But what to you think about that?
I’m all about trying to be the best in a micromarket, but how do you make sure your market size isn’t too small? Is a small potential market just another type of dip you may not be able to get through?
Guess, I should read the book…
RE>But what to you think about that?
Lately it’s helping me focus one part of my career. In Godin’s language, I’m headed down one road that’s a “cul-de-sac” that won’t go anywhere and I need to quit and turn around. Forcing me to focus on the one thing I can be the best at forces that decision.
RE> Is a small potential market just another type of dip you may not be able to get through?
I like that Venn diagram with overlapping circles of
* What I love to do
* What I do well
* What other people will pay for (a big enough market)
…somewhere in there is my micromarket.