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Meet the MasterMinds: Seth Godin on Navigating “The Dip”

Seth Godin is the bestselling author of nine books who also writes the most popular marketing blog in the world. Godin, who was called "the Ultimate Entrepreneur for the Information Age" by Business Week, has changed the way people think, talk, and write about marketing and the world of work.

Godin’s nine books include Permission Marketing, Unleashing the Ideavirus, Survival Is Not Enough, and Purple Cow. He is also a sought-after speaker and the founder of Squidoo.com, a fast-growing recommendation web site.

His latest book, The Dip, is about knowing when to quit and when to stick to your guns. Most importantly, the book is about becoming the best at what you do.

We’ve all experienced projects that begin as fun and interesting, but then quickly turn to drudgery. That’s when you might wonder if you are in a temporary slump, or if the original goal is no longer worth pursuing. Seth Godin calls this phenomenon, “The Dip.”

We asked Godin how to know if a dip is worth working through—or not.

McLaughlin: What is the Dip?

The Dip is a filter. It’s the barrier that separates the well-meaning amateurs from the professionals, the dividing line between average and best-in-the-world.

Godin: The Dip is a filter. It’s that barrier that separates the well-meaning amateurs from the professionals, the dividing line between average and best-in-the-world. When you start a project, it’s fun and you get a lot of support. When you break through the Dip, you’re seen as the one, the only, the go-to person. In between is the Dip.

McLaughlin: Many of the things we do for our careers and our clients have Dips. Is there a way to know if you are actually in a good Dip versus a bad one?

Godin: Well, I believe all Dips are good news. That’s because you know there’s light at the end of the tunnel. When Bain broke through the Dip, they ended up generating hundreds of millions of dollars in profits because they were seen as unique (for a small but profitable niche).

Most consultants are on a dead end. They do slightly above average work for slightly above average clients. But they’re not seen as the best in the world, so they become a commodity.

McLaughlin: If you can successfully get through a Dip, what are the potential rewards?

Godin: The age of Google means that I have access to the whole world, always. If I need a consultant for web design appropriate for the Zulu nation, I can find the best one—with one click. Why would I choose the second best one? A tiny incremental advantage can compound over time, until the word spreads and you are able to dominate your niche.

McLaughlin: Sometimes, you get into a Dip and don’t appreciate its depth until you’re sitting on the bottom looking up. Is there some way to know how much of a Dip you face as you enter into it?

Godin: I think history is a useful tool here. Who came before? How long did their Dip last? What are the symptoms and the metrics?

It’s almost impossible to overinvest in becoming a market leader.

McLaughlin: When you conclude that your Dip is actually a dead end, how do you get over the stigma of quitting and give it up?

Godin: That’s what my book is really for—to get you to quit. It’s also to help you understand the benefits of getting through the Dip and to realize that if you’re on a dead end, you have no hope of ever enjoying those benefits. Life’s too short for that.

McLaughlin: Are there any good examples of people or organizations who you believe are really good quitters?

Godin: Suze Orman quit Merrill Lynch. Ronald Reagan quit acting. Apple quit the Newton. And our nation quit Vietnam.

McLaughlin: Savvy organizations might try to create deep, long Dips for their competitors. Do you have an example of this type of behavior? And how can a competitor navigate such a deep Dip?

Godin: That’s what Apple does all day and Microsoft too. Strategic planning should be about erecting a giant Dip around your cash cow businesses so that others face an ever-increasing barrier.

McLaughlin: Many consulting projects have multiple Dips. Any advice on how a project team can get through the early Dip they often face as a project launches?

Godin: The reason the book is so short (and, I hope, helpful) is that I just want you to talk about it. Talking about (and naming) an issue is underrated. Once you know it’s there, it’s a lot easier to deal with.

McLaughlin: If you could give a consultant one piece of advice about navigating through a Dip, what would it be?

Godin: Don’t find the biggest Dip. Find the biggest Dip you can make it through. And then do it again. Success is a series of Dips, navigated.

McLaughlin: What projects are you working on now?

Godin: My new book, Meatball Sundae, is out in December. And Squidoo.com continues to thrive. Check it out.

McLaughlin: Thanks for your time.

You can find out more at www.sethgodin.com and www.squidoo.com.

Read our previous interviews with Seth Godin:

Seth Godin Takes the Prize
Seven Questions for Seth Godin