"Lose Yourself" is the most successful single of Eminem's mainstream career. It had a 12-week run at #1 in the United States & Australia, and topped the charts in many other countries as well, including the United Kingdom, Ireland, New Zealand and Denmark among others. It debuted at number nine in Canada and moved up to #1 the following week. According to the Guinness Book Of World Records "Lose Yourself" became the "Longest Running Single at Number One for a Rap Song" at 23 weeks.
In the United States, "Lose Yourself" debuted on the Billboard Hot 100 singles chart the week of October 5, 2002, at #43. A week later, the single jumped to #18, and hit #1 by November 9. The single spent 16 total weeks in the Top 10, and a total of 23 weeks in the Top 50. While in the #1 spot (from 11/09/02 through 1/25/03), "Lose Yourself"'s impressive run kept several top contenders for the #1 spot from ever reaching #1, including Jay-Z, Nelly, Jennifer Lopez, Christina Aguilera, and especially Missy Elliott, whose single "Work It" was at #2 for 10 weeks.
The song went on to receive the Academy Award for Best Original Song (the first time a rap song ever won this award), upsetting the favored song "The Hands That Built America" by U2. It is rumored that Eminem, who was not present at the award ceremony believing he would not win, was sleeping at the time the award was announced. This was the first time in 14 years the winner of the Best Original Song category did not perform at the ceremony. Luis Resto, one of the song's co-writers, had attended the ceremony and accepted the award instead. "He's creative, he has symphonies in his head," Resto said at the lectern about Eminem.  The American Film Institute later ranked it #93 on their list of the 100 Greatest Songs from American Films.
At the Grammy Awards of 2004, "Lose Yourself" became Eminem's second career nomination for Record of the Year (following "Without Me"), and the first rap song ever to be nominated for Song of the Year. It won Best Male Rap Solo Performance and Best Rap Song, which was a brand new category at the time.
At #166, "Lose Yourself" is the highest ranked of the three songs from the 21st century featured in the 2004 List of Rolling Stone's 500 Greatest Songs of All Time (joining "Stan" at #290). Outkast's "Hey Ya!" was the other, at #180. The magazine later ranked the song the twelfth best of the decade. The song was the 51st best-selling single of the 2000 decade in UK.
"Lose Yourself" was later released on Eminem's compilation album, Curtain Call: The Hits, in 2005.
The song's chorus consists of two repeated short verses.
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The song was also covered by The Script for their debut self-titled album, released in 2008.
Look, if you had one shot, or one opportunity
To seize everything you ever wanted-One moment
Would you capture it or just let it slip?
His palms are sweaty, knees weak, arms are heavy
There's vomit on his sweater already, mom's forgettin'
He's nervous, but on the surface he looks calm and ready
To drop bombs, but he keeps on forgettin'
What he wrote down, the whole crowd goes so loud
He opens his mouth, but the words won't come out
He's choking, how everybody's joking now
The clock's run out, time's up over, bloah!
Snap back to reality, Oh there goes gravity
Oh, there goes Rabbit, he choked
He's so mad, but he won't give up that
He won't have it , he knows his whole back's to these ropes
It don't matter, he's dope
He knows that, but he's broke
He's so stagnant that he knows
When he goes back to his mobile home, that's when it's
Back to the lab again yo
This this whole rhapsody
He better go capture this moment and hope it don't pass him
You better lose yourself in the music, the moment
You own it, you better never let it go
You only get one shot, do not miss your chance to blow
This opportunity comes once in a lifetime yo
The soul's escaping, through this hole that it's gaping
This world is mine for the taking
Make me king, as we move toward a, new world order
A normal life is boring, but superstardom's close to post mortem
It only grows harder, only grows hotter
He blows us all over these hoes is all on him
Coast to coast shows, he's know as the globetrotter
Lonely roads, God only knows
He's grown farther from home, he's no father
He goes home and barely knows his own daughter
But hold your nose cause here goes the cold water
His hoes don't want him no mo, he's cold product
They moved on to the next schmoe who flows
He nose dove and sold nada
So the soap opera is told and unfolds
I suppose it's old partner', but the beat goes on
Da da dum da dum da da
No more games, I'ma change what you call rage
Tear this mother****ing roof off like 2 dogs caged
I was playing in the beginning, the mood all changed
I been chewed up and spit out and booed off stage
But I kept rhyming and stepwritin the next cypher
Best believe somebody's paying the pied piper
All the pain inside amplified by the fact
That I can't get by with my 9 to 5
And I can't provide the right type of life for my family
Cause man, these goddam food stamps don't buy diapers
And it's no movie, there's no Mekhi Phifer, this is my life
And these times are so hard and it's getting even harder
Trying to feed and water my seed, plus
Teeter totter caught up between being a father and a prima donna
Baby mama drama's screaming on and
Too much for me to wanna
Stay in spot, another day of monotony
Has gotten me to the point, I'm like a snail
I've got to formulate a plot fore I end up in jail or shot
Success is my only mother****ing option, failure's not
Mom, I love you, but this trailer's got to go
I cannot grow old in Salem's lot
So here I go is my shot.
Feet fail me not cause maybe the only opportunity that I got