The Dip

"If you’re not going to be #1, you might as well quit now.” Seth Godin, The Dip

Seth Godin’s new book, The Dip, is a primer on the art of strategic quitting and an excellent example of just how powerful mental models can be. For example, remember when you first began your real estate career. You started out with a lot of energy, making strides toward your goals. The excitement and motivation were strong and euphoric. Then, you hit the wall. It may have been health issues, the economy, market conditions, lack of Broker support, lack of technology skills, or any combination of the foregoing. Things got tough. You began tackling the less sexy aspects of your goal, such as; prospecting, business planning, or farming. Progress is slow and painful with no tangible benefit in sight. At this point many agents give up. But you see the future beyond the Dip, and you want it, so you press on.

On the other side of the Dip, things appear to be bright and sunny. You come out on top, you're successful, you've persevered, you're recognized as being among the best in your market. The time and hard work you spent pushing through the Dip was worth it and you'll continue to real the rewards until someone or something pushes through an even bigger Dip that changes the game yet again.

However, there is another mental model which we encounter frequently in the real estate business which has the potential to wreck many a promising career. Seth Godin refers to it as the "Cul-de-Sac". It''s a model that represents things that ultimately aren't worth doing. It's a trap in which it's easy to get stuck. You grind your way forward, giving a lot but gaining little ground. This "dead end" isn't going to lead you where you need to go. Examples? Sure in real estate there are plenty: print media advertising (no future, readers have moved on), self promotion vehicles (consumers are smart, they want value not glamour shots), cold calling (DNC knocked this one in the head, and no one is going to answer the door when you knock) and promotional items (if your value proposition is expressed as a calendar or magnet you've probably hit the wall). These are just a few, there is an abundance of other dead ends in real estate. The point is not to get caught in dead-end activity. Sure, placing a print media ad is "fire and forget" and it makes the seller happy. But, you'll never get out of the Dip if you remain stuck in the Cul-de-Sac. Why not try an email campaign, or a new web strategy, or SEO/SEM? Drastic change is scary and therefore most agents avoid it, choosing to cling to the mediocre status quo.

What's an agent to do? QUIT! Identify those areas in your life and your business in which you're not making progress, vacate these positions without reservation or remorse. Go find yourself another Dip in which to invest your time and energy. The Dip is your friend. It forces you to muster the attitude and determination to learn new skills, adopt new technology, or change your business model. So long as you maintain this energy and direction you can find your way through it and on to the top of the heap. If you're not making progress through the Dip...Quit! Mike