How Poker Can Help You Be a Better Entrepreneur Posted on July 12, 2022August 18, 2024 By Leigh Langston At first glance, poker players and entrepreneurs may look like they have nothing in common. However, you’ll be surprised to learn that both professionals follow similar principles to achieve success. In fact, entrepreneur and bestselling author Diana Kander recommends that aspiring entrepreneurs should participate in a game of poker to learn how to make the right moves in business. Kander points out that poker players practice self-control, take risks, and remain curious in every round, thus embodying the traits that entrepreneurs must possess when making business decisions. Following Kander’s advice, here’s a look at a few strategies for both poker and business success: Assessing possible risks Risk-taking is something that many women entrepreneurs fear, but business experts believe that this is a skill that can be learned through a game of poker. Since women tend to be risk-averse in their careers, Northwestern University established the educational site Poker Powher to help women learn about negotiation, decision-making, and risk assessment through poker. Through playing multiple hands of Texas Hold‘em, business students can learn how to make the right decisions and think under pressure. Playing each round instills confidence, and players are able to learn how and when they should take risks, even when the stakes are high. Developing proper strategies Given that competition is tight in both fields, you’ll learn that you need to establish a proper strategy to achieve your objectives. Though many people believe that luck plays a big factor in both poker and business, game resource Poker.org provides strategy tips that players need to understand. This includes the basic game play rules, the ranking of the poker hands, and even the main poker terms to succeed in each game. Players can refer to expert advice to master fundamental skills and apply advanced poker strategies, such as Upswing Poker and Chip Leader Coaching. Similarly, entrepreneurs need to study fundamental business skills and management strategies to run their operations and innovate. Knowing your competition It’s definitely intimidating to sit across numerous people at a poker table or at a business event, but you can put yourself at an advantage if you examine your competition carefully. Your knowledge of strategies can be an advantage here, since you’ll be able to spot your opponent’s patterns and moves if you pay attention to them. Following advanced plays could be a good move here, especially since our article on the ‘10 Ways to Make Your Brand Stand Out’ highlights that more specific strategies means you’ll be facing fewer competitors. Observing your competition will help you find a better direction for your poker or business strategy and be able to set yourself apart from the crowd. Managing one’s emotions Both business and poker can trigger your emotions. Since emotional management can be difficult to master, aspiring entrepreneurs can practice this through a game of poker. Poker is actually encouraged by Teachingstartup.com founder Joe Procopio because he realized that it’s a great way to learn how to be patient. He stated that frustration and other extreme emotions can cause individuals to make heated decisions in games and in business ventures. But after playing a few rounds of poker, aspiring entrepreneurs can learn the value of waiting for the right moment to strike, and not folding under pressure. Putting up a business isn’t always easy for female entrepreneurs, but poker is a great place to learn vital business skills. If you’re interested in more tips, Dangerouslee.biz contains resources for women small business owners/entrepreneurs interested in business and lifestyle content. Our articles on digital marketing, founders, and news updates can provide you with the guidance you’ll need in the competitive world of business. Sponsored Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Related News developing strategieshow poker is like entrepreneurshipknowing your competitionmanaging emotionsplaying pokertaking risks as an entrepreneurtraits of an entrepreneur
News 4 Common Mistakes Made When Launching a New Product Posted on April 30, 2021April 30, 2021 The introduction of a new product or product line is an exciting time for any business, but you may fall into your fair share of pitfalls. Given how long it can take to develop a new product line, you can’t always afford to make simple mistakes upon release. We’re going… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More
News What People Look for When Choosing a Charity Posted on March 15, 2021March 15, 2021 Most people have an impulse to do good by giving, but they don’t know how best to go about it or where they should contribute. Many individuals donate to a charitable organization—one that pursues change in some manner. Charities then manage these financial gifts by creating new and improved programs… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More
News What Black Women Should Know Before Undergoing Surgery Posted on April 15, 2020April 8, 2024 For Black women, any type of health care decision comes with a lot of weight behind it. If Black women don’t educate themselves before making these decisions, it could be the difference between a successful outcome and a fatal one. The good news is that medical treatment, including surgery for… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More