In his book The Dip, Seth Godin writes that rewards are heavily skewed for being #1. He gives the example of the distribution of the the top ice cream flavors. Vanilla at #1 accounts for almost 30% of sales while chocolate at #2 barely clears 7.5%
Sure, some of you chocolate fans may be shaking your heads in disagreement but the stats don’t lie. And the same kind of distribution goes for EVERYTHING: It pays big to be #1.
Practically it makes sense. If you’re in the mood for wings, you’re going to want the best wings. Second best just wont do.
The reason #1 matters so much is the scarcity – obviously there is only ONE, #1.
Seth goes on to the next key point that the definition of “world” can be changed based on parameters and availability.
When you want wings delivery at 1am on a Tuesday, the definition of best in the world is clearly different from a Saturday afternoon drive down the shore for wings.
This is also the reason why branching into niches is the only true way to success. You define the world where your product or service cannot be matched.
So, are the activities, pursuits, and projects you’re working on, the best in the world? If not, how do you make them become the best in the world? If you can’t, you need to re-evaluate how you invest your time and energy. Because no one cares about #2.