The Opportunity Cost in Not Quitting the Dead Horse Projects
–An Eleven-Part Series—
Part One
by
Bob Marshall
October 1, 2024
Opportunity Cost
Definition: Opportunity cost is the potential gain lost from choosing one alternative over another. It represents the benefits you could have received by taking a different action, highlighting the trade-offs inherent in any decision-making process.
The Dip
Definition: A Dip, as described by Seth Godin, is a temporary setback that can be overcome with persistence. It’s the challenging phase between initial enthusiasm and true mastery, where progress may feel slow but is essential for growth.
Distinction from Cul-de-Sac: A Cul-de-Sac, or dead end, is a situation where no matter how much effort you invest, improvement is unlikely. Recognizing whether you’re in a Dip or a Cul-de-Sac is crucial to avoid wasting time and resources on unproductive pursuits.
Importance for Recruiters
As a recruiter, it’s vital to understand these concepts in your work with client companies:
- Urgency: Some companies urgently need to fill positions, often turning to recruiters to expedite the process.
- Difficulty: Companies facing challenges in filling positions offer a “court of last resort” opportunity for recruiters to provide value.
- Talent Monitoring: Keeping tabs on high-quality talent for companies, regardless of immediate openings, can establish long-term relationships.
The Silver Lining of the Dip
Facing dips is a common experience, but they also present a unique opportunity. The tougher the situation becomes, the more competitors tend to drop off. Those who persist through these challenges not only build resilience but also position themselves as valuable entities in their field—essentially becoming “Power Brokers.”
In essence, enduring and overcoming the Dip leads to scarcity, which in turn creates value. As fewer individuals or businesses succeed in navigating these challenges, those who do become highly sought after, amplifying their impact and influence in their chosen niche.
The Story of Alex and the Mountain
Once upon a time in a small town nestled at the foot of a towering mountain, there lived a young climber named Alex. Alex had always dreamed of reaching the summit, a place said to offer breathtaking views and a sense of achievement that few could comprehend.
One sunny morning, Alex decided to embark on this journey. The first few hours were exhilarating. The sun shone brightly, the birds chirped, and the trail was manageable. Alex felt unstoppable, fueled by excitement and adrenaline.
However, as the climb progressed, the terrain grew steeper and more challenging. The trail narrowed, rocks jutted out at odd angles, and the air became thinner. Doubts crept into Alex’s mind. “What if I’m not cut out for this?” he thought. “Maybe I should just turn back.”
This was the moment of truth—was Alex facing a Dip, a tough but temporary setback, or a Cul-de-Sac, an insurmountable dead end? He recalled stories from seasoned climbers who had shared that the view from the top was worth every struggle along the way.
Determined to push through, Alex took a deep breath and forged ahead. The next few hours were grueling. Every step felt like a battle against gravity. He stumbled, caught his breath, and even considered turning back. But he remembered the stories, the beauty waiting at the summit, and the sense of accomplishment that only comes from overcoming adversity.
With each grueling step, he noticed fewer climbers around him. Many had given up and turned back, but Alex pressed on. Finally, after what felt like an eternity, he reached the summit.
As he stood there, gazing out over the vast landscape, a sense of peace washed over him. The struggles, the sweat, the moments of doubt—all of it melted away in the light of that incredible view. Alex realized that the Dip he had pushed through had not only brought him to this moment but had also made him stronger and more resilient.
From that day forward, Alex became known in the climbing community as someone who could navigate the toughest trails. Other climbers sought him out for advice, and he shared his experiences, emphasizing the importance of recognizing the difference between a Dip and a Cul-de-Sac.
In the end, Alex’s journey up the mountain taught him that while dips are challenging, they are also the gateways to extraordinary results. Those who dare to push through not only reach their goals but also become a source of inspiration for others, creating a ripple effect of perseverance and achievement.
Next week: Part Two – When to Quit
My Best,
Bob
Bob Marshall began his recruiting career over 44 years ago at MR in Reno, NV. In 1986 he established The Bob Marshall Group, International, where he has trained recruiters throughout the United States and also in the United Kingdom, Malta and Cyprus. With a dedication to executive recruiting, he continues to offer his proven training systems to individuals, firms, and private corporations both domestic and in select international territories. To learn more about his activities and descriptions of his products and services, contact him directly @770-898-5550/470-456-0386(cell); bob@themarshallplan.org; or visit his website @ www.TheMarshallPlan.org.
Bob Marshall
President
TBMG, International
247 Bryans Drive, Suite 100
McDonough, GA 30252-2513
770-898-5550
520-842-5550 (fax)