Seth Godin | Conquering The Dip (Episode 336)

Do what would make your mom proud.

“We don’t live in a scarcity economy any more; we live in an abundant economy.” -Seth Godin

The Cheat Sheet:

  • Is there really such a thing as writer’s block?
  • Why quitting and failing aren’t the same.
  • When and how to quit to be successful.
  • The two categories of failing.
  • Why 98% of people who start online classes don’t finish them.
  • What it means to serve people.
  • And so much more…

As an uber-successful entrepreneur who has started multiple companies and an author of 17 books, Seth Godin is a man who needs very little in the way of an introduction. He is looked to as a thought leader in marketing, communications, and entrepreneurship.

On today’s episode he shares his thoughts on the creative process, what it means to be in “the dip,” and how to succeed in business without having an exclusive focus on the bottom line. Listen in for details on all of this and so much more on the 336th episode of The Art of Charm.

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Believe it or not there was a span of time when Seth Godin struggled. In fact, he says he spent eight years teetering on the edge of bankruptcy. But living on that edge so precariously for that long brought him tremendous insights and experiences, many of which he shares on this episode.

One of those experiences he shares with us is how he managed to cope and thrive from rejection. In his first year in the book business he was rejected 800 times! And he learned to see it in the best possible light: each rejection was a step closer to a yes and he was very willing to be bad until he was very good. Those rejections helped him get better until he became great.

On a similar note we discuss why he says quitting and failing are not the same thing. Seth wrote The Dip to help us have mature, intelligent conversations about quitting. He believes you have to be willing to quit everything else in order to be the very best in the world at one thing.

Too often today we don’t quit to focus on that one thing, we become mediocre at many things. And none of us really want mediocre! We don’t go on the Internet to buy from the most mediocre person we can find. We want the best from the very best.

In order to become the very best and quit everything else, we also have to set parameters for our quitting. When we take on a new project or a new business we have to decide at what point we will quit, and then actually quit if/when we reach it.

For example if you start a new business and you decide you will quit when you have spent the $10k you currently have set aside on that business, then you must quit when that $10k is gone (and the business isn’t working). Don’t burn through the $10k, have a failing business and then go mortgage your house to keep going. Set the circumstances ahead of time and then honor them.

But while some paths do endure The Dip, yet others are simply dead ends. Seth suggests if you are a budding entrepreneur you should follow a path that’s been trodden successfully in the past. Learn from those who have gone before you and have succeeded, figure out when you’re in The Dip and ride through it. Knowing you’re experiencing The Dip makes it a whole lot easier to get through.

Seth goes into much more detail on quitting vs. failing and other great entrepreneurial lessons he’s learned (like how to create and serve people by not focusing on the almighty profit). There are tons of great nuggets here so have a listen! It was an honor to have him on the show, please join me in thanking him. And thank you for being here too. Enjoy the episode and we’ll see you next time.

THANKS, SETH GODIN!

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AJ Harbinger - author of 1048 posts on The Art of Charm

AJ Harbinger is one of the world’s top relationship development experts. His company, The Art of Charm, is a leading training facility for top performers that want to overcome social anxiety, develop social capital and build relationships of the highest quality. Raised by a single father, AJ felt a strong desire to learn about relationships and the elements that make them successful. However, this interest went largely untapped for many years. Following the path set out for him by his family, AJ studied biology in college and went on to pursue a Ph.D. in Cancer Biology at the University of Michigan. It was at this time that he began to feel immense pressure from the cancer lab he worked in and began to explore other outlets for expression. It was at this point that The Art of Charm Podcast was born.

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