The Dip is a superbly useful and interesting book (and phenomenon) by the marketing expert Seth Godin.
In it, he talks about how ‘The Dip’ is a barrier to excellence which ensures that scarcity creates value. In other words, if something is harder to do / harder to get it’s more valuable / worth more.
It’s true, if you think about it. Diamonds don’t show up on the ground like common pebbles, in fact to get diamonds you have to go through a hell of a process – thus they’re worth more than common pebbles.
The very top professional footballers had to jump through many, many hoops to get to the top of their game – they are scarce and therefore exceptionally valuable. Talent alone is not enough in their case.
The really exceptional lawyers have to power their way through ‘The Dip’ to get to the top of the tree and when they […]