THE DIP
Featured
The Dip
Reviewed by Mr. Anirudh Gupta, Member
Non-Fiction
Publisher: Penguin Group
Price: INR 275.
The dip represents the journey one takes to move from the current situation to the ideal situation. It is the time an apprentice takes to attain mastery; a challenger becomes a market leader.This book addresses some of the popular myths when one thinks of quitting.
Never Quit is Bad Advice
One can quit things strategically if they are not serving the purpose for what they were designed.
In any journey there are situations which are tough. Many a times we see challenges in the form of tougher economic conditions, uncooperative people at work and many a times the advice given is “Never quit”. That may not be the right advice for all situations. For eg: One of our associates left a once thriving practice in consulting as buyers strong negotiating position created a situation where business was not viable.
Never Quit is Bad Advice
One can quit things strategically if they are not serving the purpose for what they were designed.
In any journey there are situations which are tough. Many a times we see challenges in the form of tougher economic conditions, uncooperative people at work and many a times the advice given is “Never quit”. That may not be the right advice for all situations. For eg: One of our associates left a once thriving practice in consulting as buyers strong negotiating position created a situation where business was not viable.
Second situation is a cliff situation where things are likely to go downhill. Jack Canfield had seen such a cliff in his business before he established himself as an author/speaker of repute.
In such a situation one can redefine the basics of the situation and work on new ideas and opportunities. If the opportunity is real it can grow over the medium term.
Cul-de-sac: There are some situations in which one has reached a dead end. If there are no prospects in the future one may take a small loss and move forward.
One of our associates lost 50% of his franchise money in a business as things hit a dead end. Fortunately he was alert enough to recover the 50% of his capital.
In such a situation an ideal option is to quit.
The Dip
In every activity there is likely to be a dip. When it starts it is fun and in the middle one experiences boredom/withdrawal symptoms. An important factor is focus. A good thumb rule is to only look at those activities where one will go through the dip. Are there any dips which one can benefit from?
There are some immediate areas which can be addressed
- Creating advantages which reduce entry in the business
Microsoft does it quite successfully internationally. No wonder MSOffice is still the preferred software when it comes to office use. A key principle adopted by them is commitment to the market, however products may keep changing.
If one looks at any market leader like HUL have successfully created a world class franchise and invest in building capabilities. They have a reputation of being the CEO factory of India. This makes their position as a market leader very dominant.
- Professional reputation
If one has established a strong reputation as a professional, one has an edge over others. Benefits of building a strong professional reputation are goodwill, help on critical issues and work on collaborations which are long term in nature.
This holds one in good stead in one’s career as a professional/independent consultant.
May you enjoy the dip!
