Making it big in the world of business is not a cake-walk. Making steady profits, earning a reputation in the market, gaining the loyalty of employees and customers, managing resources on time at a reasonable cost, etc, requires vision, intelligence, and foresightedness. It requires planning and organizational skills to compete and win the race to keep yourself ahead of the competition and stand out in the market.
Many new entrepreneurs find themselves stuck in confusion about how to achieve the level of success they want. The thought of failure makes them overwhelmed and stops them from making attempts to reach for their dreams.
What if you tell you that there is a game that can help you ‘think differently’ and prepare you to accomplish your targeted objectives effectively?
Poker is a fun and highly engaging card game that is played worldwide. It is a game of psychology, mathematics, time management, and money management. Here’s what every entrepreneur can learn from this strategy-oriented game.
Poker and business, both involve an element of ‘uncertainty’. At Poker tables, you cannot become a champion in a day. You need to spend a good amount of time learning the basics of the game such as Poker hand rankings, table positions, betting actions, bankroll management, etc.
It takes time to learn how to read your opponents by carefully observing their playing style, spot their weaknesses, and create a strategy accordingly to outwit them. Similarly, you cannot just start making money from the first day of opening a business. It took years for Steve Jobs or Mark Zuckerberg to create their billion-dollar businesses. They planned their steps, developed flexible strategies, adapted to changes in the trends and consumers’ interest with patience to achieve the outcomes they were after. They thoroughly studied their competitors to make innovative changes in their strategies and tactics.
In official communications, employee and client relations, and business negotiations, a calm and controlled attitude can do wonders as it helps you ensure making rational decisions while being under pressure.
Taking calculated risks
To carry out the business operations smoothly, you have to eliminate all hindrances that stand between you and your goals. A good Poker player takes every action on the basis of probability calculations to ensure getting maximum returns on the money he invested in the pot. Regardless of the nature of the business, a businessman has to take decisions related to investing money in manufacturing products, hiring and training people, promotion campaigns, and sales activities.
Similar to the game, he has to find out the possibilities of getting ROI (return on investment) on time by doing the risk Vs reward comparison. There is no scope of luck, fate, or random guesses in the business ‘battlegrounds’. It is imperative to take ‘calculated’ risks to get ahead of the competition.
What makes you unique and special? At Poker tables, you need to stay ‘unreadable’ for your opponents by experimenting with your strategies. You have to create a table image for yourself as per the situation on the game table.
As you cannot implement the same type of game-plan against every player, you have to use your imagination, step out of your comfort zone, and develop out-of-the-box strategies. Similarly, an entrepreneur needs to always stay open to new ideas and approaches related to production, sales, marketing, etc.
A good player and a good businessman never surrender without a fight. Both at Poker tables as well as in business, you have to stay optimistic about the outcome of your actions. Achievements and setbacks are part of the game, but one thing that you always earn with them is experience. What matters the most is your passionate desire to win and the zeal for achievement. Your commitment and determination to see your idea through help you save yourself from getting rattled by failures.
Poker is a great game that not only helps you relieve stress but also challenges you in order to bring out the best in you. You can play this highly entertaining game online just for sheer enjoyment or make good money. The game is available in cash game and tournament formats which you can join to compete against the best minds from all over the country and win fabulous rewards. You can also create private Poker tables to play with your family members, friends, or work mates.
Any person, by acquiring proper knowledge and skills through study and practice, can become a Poker player or an Entrepreneur. We assure you- the lessons you learn from playing Poker will help you greatly in making big profits in your business in the long run!
Interesting related article: “What is an Entrepreneur?“