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In today’s issue, we are talking about a subject that I think about a lot: how to take a shortcut to building your own profitable business.
If you’re serious about wanting to build a business, this is the easiest way to do it. There is no faster path to success than what we are talking about today.
Today, I will teach you how to be the best in the world at what you do.
LFG. 🔥
Why You Need To Be The Best In The World At What You Do
Because the winner takes all the spoils.
It’s not just a cliche, but rather a phenomenon found all around the universe. You know it as the 80/20 rule, the Pareto principle, and even the long tail phenomenon. In business, and in all of nature, a small few gobble up all the results.
For example, 20% of the stars in the universe have 80% of the mass. In the Amazon rainforest, 20% of the plant life takes 80% of the sunlight. In sports, 20% of the athletes take 80% of the payroll cap.
And in business, 20% of the companies get 80% of the results.
“The rewards for being first are huge. It’s not a linear scale. It’s not that if you’re twice as good, you get twice the benefit. If you’re number one, you get ten times or a hundred times the benefit of number ten.”
Seth Godin, The Dip.
The easiest example is Google.
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It pays to be the best.
Why Does This Happen?
There are two main reasons for this phenomenon.
First is something called network effects. Network effects dictate that in a system, every node increases the network exponentially. So, the growth chart skyrockets. Once a company finds a slight advantage, that advantage becomes more and more powerful over time.
A good example of this is language. Let’s imagine there are 10 people lost on an island, and none of them speak the same language. The people will start to compete with each other to communicate. Now let’s imagine that for whatever reason, whether sales, persuasion, good looks, or even bribing, one of them is convinced to learn English alongside the English speaking person.
In that case, English has an exponential power advantage. It’s not long before everyone in the tribe learns English, because the people who know English have a huge advantage. This is a simplistic example, but it’s a clear illustration of how small advantages compound in power.
In business, your advantage could be excellent service, a software product you created to automate your processes, or even a blog you created that hogs attention. Whatever your advantage is, it will have a massive impact.
The second reason is convenience. Your brain makes up about 2% of your body’s total weight, but it burns about 20% of its calories. Look at that, another 80/20 rule. Evolution has optimized your brain to intentionally look for shortcuts. So, when making decisions, your brain is hardwired to pick the choice that seems like a sure thing.
Choosing number one eliminates the risk of a bad experience. Choosing number six requires you to spend time researching whether it is actually safe or effective, and most consumers would rather outsource that decision to the crowd.
Your brain, ironically, is a lazy organ. In any situation, it will opt for the path of least resistance. Just look around your house, your car, or even your pocket. You probably have an iPhone or an Android. Why? Do you even know what else is out there?
Of course you don’t. Why would you?
How To Be The Best In The World
Since our brains are wired to choose number one, you need a game plan to get there. In his book, Godin gives 4 strategies to become the best in the world. It’s a short book, so I suggest you go read it. I will summarize the strategies here.
1. Start small and dominate a space
This is why I always tell people to niche down. The idea of being a generalist is great for building a skillset, but if you want to build a business, you want to be the ultimate authority for a specific market.
You can be the best:
local seo agency in your city
YouTube channel that helps people and cuts their grass for free (3.4 million subscribers)
This is how I got wealthy. I became the best lead gen and SEO agency that focused on drug rehabs. There was no one better than me. Granted, over the last 15 years the space has gotten more competitive, but I’m the best.
And you can keep pivoting until you find an advantage, double down on it, and win.
Sober Nation was my advantage. I had a media brand with tens of thousands of monthly visits all about sobriety, rehab, and treatment. This advantage compounded and rocketed my agency.
I went as small as possible and I became the “go to” in the space.
Now, I’m working to be the best in the world at “helping people start boring and profitable businesses.”
You should do the same.
2. Quit the Cul de Sacs
Cul de sac is French for “dead end.”
Most of you live in a cul de sac. You’re moving, but you’re not going anywhere. You’re walking in circles. And although there is safety in the dead end, there is zero growth.
If you’re in a cul de sac, you must get out immediately. This means quitting. Quitting is for winners.
I’ve quit way more projects than I’ve succeeded with:
yourboulder.com
LSATClarity.com
thecensus.io
treatmentleads.net
machinemethod.co
These were endless projects that started and never went anywhere. So I quit them.
Are you in a cul de sac?
3. Push through The Dip
The dip is the middle ground between the fun and adventure of being a beginner, and the comfort and security of being an expert.
“In a competitive world, adversity is your ally. The harder it gets, the better chance you have of insulating yourself from the competition. If you can handle the Dip, you win. If you’re not going to be number one, you might as well quit now... Because being average is for losers. It’s a waste of time, a waste of money, and a waste of opportunity.”
Everyone is excited about their business in the beginning, but hardly anyone pushes through the slog of The Dip. This is my superpower: I enjoy the boring slog of the journey. And this is why I outlast almost everyone who competes with me, because most people don’t have the patience or emotional fortitude to keep going.