What you can Learn from the Poker Industry in Running a Successful Business?

Increase business productivity

Running a successful business takes a whole lot of work. While it seems that many of the world’s biggest business owners become billionaires overnight, when you dig a little deeper you see they’ve been working tirelessly their whole lives. To be the best you need to take inspiration from the world around you. You need to be constantly looking for ways to improve your skills and yours services to get ahead. With this in mind, today we’re looking at what essential skills you can learn from the world of poker

  1. Experience matters

While the occasional young upstart can progress quickly through the ranks, business owners with experience are the ones with the longevity we crave. The same applies in poker. The more you play the game – the more you understand. The more opponents you encounter – the more laterally you think about your performance. In both poker and business you become successful when you know the game inside out. Read as much as possible, study the markets, seek knowledge from those above you. Through time and commitment, you will be successful.

2 – Risky business

The best poker players know how to keep things unpredictable and when to take risks. Likewise, these are essential skills for business. To avoid having your next move anticipated or your best move stolen, you need to mix up your strategies. You must learn to wait for the best opportunities and know when to act without hesitation. Taking risks can be scary, in business and in poker, but it’s these calculated risks that will keep you one step ahead of your competitors.

3 –Self-discipline

Most professional pokers players are their own boss. This means they’ve got to where they are in life through hard work, discipline and by doing everything in their power to be the best in the game. Discipline is key to business success. If you have a goal, you need to have the gumption to drive yourself towards that end result. That means getting up every day and working on self-improvement. You need to track your performance, set yourself targets and constantly be working on ways to improve yourself.

4 – Endurance

Some poker tournaments last for dayson end. The field will start large and gradually the weak will fall away living one person to take the top prize. You need to be in it for the long haul, and learn to perform at a consistently high level. Momentary lapses in concentration can mean defeat. There are thousands of start-ups forming every day – the ones that succeed are the ones with hard-working employees who are constantly driving the business forward. Just like in poker, you need to keep your eye on the prize if you want to succeed.

5 – Body language

Successful businesses have happy, driven employees whose employers support their ambitions. When you have hundreds of employees, it’s difficult to know what everyone is thinking. Poker players need to be able to read every new opponent they encounter…and quickly. They apply a mix of psychology and body language to quickly establish what they’re thinking and what their next move is likely to be. Similar observational skills will serve you well when running a business…both with competitors, and most importantly, your own employees.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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