The song is called "One Thing" and the band is called Finger Eleven. Here's a snippet:
If I traded it all,
If I gave it all away for one thing;
Just for one thing
If i sorted it out,
If i knew all about just one thing
Wouldn't that be something?
When I heard that song it made me think of Paul's words to the Philippians (3:7-8):
But whatever was to my profit I now consider loss for the sake of Christ.
What is more, I consider everything a loss compared to the surpassing greatness
of knowing Christ Jesus my Lord, for whose sake I have lost all things. I
consider them rubbish, that I may gain Christ...
It also brings to mind this short parable Jesus taught in Matthew 13:44-46:
The kingdom of heaven is like treasure hidden in a field. When a man found
it, he hid it again, and then in his joy went and sold all he had and bought
that field. Again, the kingdom of heaven is like a merchant looking for fine
pearls. When he found one of great value, he went away and sold everything he
had and bought it.
The idea of giving away everything you have is challenging. What would make somebody do that? Take the guy in Jesus' story that finds a pearl so valuable that he literally sells everything he owns to take hold of that one thing. He obviously cherished it more than anything - more than everything else put together. Paul expresses this more clearly in gladly losing everything for Christ - that one thing.
So now let's pose Finger Eleven's question to ourselves. If I gave it all away for one thing, wouldn't that be something? What one thing in your life would you trade everything for? I doubt God is calling you to literally give away everything for one thing. But would you? What does this principle look like in your life?