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Business is essentially a game of cards, the better you deal the better you reap! Poker – a widely popular game played across the globe offers unlimited lessons to streamline your strategies and hence plays a close analogy with business and works out to be the best partner for any budding entrepreneur.
This article compares and contrasts the rules of poker game-play with business and offers useful insights to assist the entrepreneurs.
Read ahead to explore the similarities between business and poker playing strategy:Dig into the basics: As with the game of poker which demands a complete understanding of the basic rules and regulations to formulate the strategies for playing the game similarly an entrepreneur needs to gear up and get the basics right before stepping ahead into the competitive world of business.
1. No Scope For Emotions
Showcasing your nervousness in front of fellow players in a game of poker is as simple as losing the game already. There is absolutely no way of revealing your true emotions ahead of your opponents. Going by similar lines, the business is an arena wherein you need to be stable and balanced even if you are halfway of signing a million-dollar deal. The moment you bring in emotions in a business, it simply loses its sight.
2. Money is a Part and Parcel
Earning or losing money is by far not the absolute end of the journey when talking about poker or even with business. Instead of treating is as your sole aim, the idea is to understand its significance as a factor to empower the journey. Earning money is not the ultimate goal rather it's a motivating factor that works to energize you with better strategies to earn even more. Similarly, you cannot afford to break down upon losing money rather it’s just a jerk to awaken refined thinking with better planning.
3. Reading Minds
It is important to grab the inner thoughts of the opponent in a split second when playing a game of poker to secure an upper hand with better decision making keeping in mind the personality of the fellow player. Similarly, a successful business needs to be an efficient face reader and should grab the insights of the other party in a short span to come up with effective decisions for the progress of the business. For instance, the leading businessman often scans the other party just by shaking the hands.
4. Planning To The Core
The game of poker teaches us important skills in predicting the upcoming patterns, next move of your competitor, possible status of opponent's cards and many more which is nothing but the art of mastering statistics and probability. Business demands the same tactics and requires the entrepreneurs to devise strategies for growth of the business as well as fabrication of back up plans in case they do not turn up the way they were planned to. An efficient businessman possesses sound skills in analyzing the market and future trends and then frames out strategies matching the environment.
In a nutshell, Entrepreneurship has a close connect with poker and the strategies utilized in the poker gameplay & software development forms the base for setting up the formulation of any business. The sole idea to succeed in business is to keep yourself focused and never lose sight. All you need is to grab the essence of poker – a wonderful game of cards and to research and analyze all the major aspects of the poker software before moving on to the actual drafting up of business strategies keeping in mind to stand upright in events of winning and losing.
