The dip

Being the best in the world is underrated
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> Winners quit all the time, they quit the right stuff at the right time 
> Quit the wrong stuff. Stick to the right stuff. Have the guts to do one or the other. 
> Zipf's law: number one matters. With limited time and resources, we intentionally limit ourselves to the top 
> Scarcity makes being the top worth something. 
> BEST as in best for them. IN THE WORLD as in their world. 
    >> Best is subjective. 
    >> world is selfish 
> Too many people settle for good enough. 
> Superstars don't skip the toughest questions. They specialize in them. The people who skip the hard questions are the majority, and they are not in demand. 
> Types of quitting 
    >> Strategic Quitting : all successful organizations do this 
    >> Serial/Reactive quitting : Bane of those who fail 
> Curves
    >> The DIP: 
        - The stretch between beginner's luck and real accomplishment 
        - artificial screens set up to keep people out 
        - why most startups fail in their first year 
        - creates scarcity 
    >> Cul-De-Sac (dead-end)
        - Get off it. NOW. 
        - the biggest obstacle to success in life, according to Seth 
    >> Cliff
        - You don't know you're on it until you fall off. 
        - example: cigarette smoking

    *Know where you are here. 

> "In a competitive world, adversity is your ally." 
    >> Brave: storm the weather of the dip
    >> Mature: Not start in the journey because you know you won't be able to get through 
    >> stupid: invest time, money and energy and quit in the middle of the dip 
> Jack Welch, GE. 
    >> closed a division that was #4 in the world. Why? 
        - It takes resources off the other more important things. 
> Lie of diversification: 
    >> Real successful people you see are obsessive 
> You failed because you 
    >> planned wrong
    >> gave up before reaching your goal 
> The most common dip curves: see if it's worth going in. If it isn't, don't start. If it is, plan ahead. 
    1. Manufacturing dip 
    2. Sales dip 
    3. Education dip 
    4. Risk dip 
    5. Relationship dip 
    6. Conceptual Dip 
    7. Ego dip 
    8. Distribution dip 
> Goal of companies: the valley of death. 
    >> Create a dip so large, that any nascent competitor is lost there. 
> If you're going to quit, quit before you start.
    >> Don't let the system, that is set up for you to quit, play you. 
    >> Don't become MEDIOCRE in the dip instead of quitting. 
    >> To be a superstar, you have to be extraordinary 
> Don't fall in love with a technique and defend it forever 
    >> Detachment? 
> Opposite of quitting is not WAITING AROUND
    >> it is a rededication 

QUIT
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> Quitting is not a moral failing. It is smart. It frees up your energy for other dips in life. 
> The time to look for a new job is when you don't need one 
> Quitting for short term is a bad idea. Quitting for the long term is an excellent idea. 
    >> Never quit IN THE MOMENT. 
    >> Plan and decide in advance 
    >> You can always quit. Wait until you finish panicking 
    >> Have a quitting strategy 
    >> Set your LIMITS before you start

"If it scares you, it might be a good thing to try" - Seth Godin