Journey of a Serial Entrepreneur

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How to get from where you are to where you want to be

Poker

“The most common mistake in history is underestimating your opponent; it happens at the poker table all the time.” David Shoup

Poker is a game associated with luck and random chance by most people. The immense media attention has contributed to a large extent, to the explosion in the number of poker players during recent years. The rules of the game are fairly straightforward, any amateur can be taught the game in no time. Due to this low learning curve, this game has witnessed a massive influx of players who just want to “try” their luck at it , so to speak.  Admittedly, there is an element of luck to this game, as there is with most card games. However, this element of luck creates a deceptive illusion, and beginners finds themselves losing rapidly to the more seasoned players. The fact of the matter is,  understanding probability stakes and an innate skill for reading people’s faces provides stronger players, with a huge advantage in this game. 

There are a few parallels that can be drawn from the game of poker to strategy and business. Some key elements I drew from the game are:

1. Aggression: Calculated aggression in the game of poker, forces other players at the table to react to your style of playing. Done correctly, this enables stronger players to manipulate many situations to their advantage. In business, and specially strategic development, the same theory applies. If one remains passive in outlook and allows external factors to disrupt the game plan, progress will be slow. One has to be an instigator to bring change, and one needs to pursue goals aggressively to reach them. Sitting back and expecting things to happen is a flawed strategy.

2. Controlling Emotions: The players at a poker table who allow their emotions to override logic and rationale, are the first to lose their chips. There are very few games I have played, in which controlling emotions plays such a vital role. It has taught me a great deal about patience and keeping a level head even when things become terribly long. Developing such patience can help greatly in all aspects of life, and provide a distinct advantage over those who lose their cool too quickly.

3. Attention to Detail: The game of poker is about gathering as much information about other players as possible. This could be their betting patterns, gestures or even the way they talk. Poker, does to a large extent boil down to how well you can read your opponents. Players who are able to identify patterns earlier in the game, can win, regardless of what others may be holding in their hands. In business and strategic development the same rules apply. The inability to understand your competition and identify trends leaves your organization at a great disadvantage. 

Developing keen insights about your opponents, and understanding your own personal threshold limits can be extremely valuable assets. By the same token, knowing when to accept defeat and when to keep your calm is equally important. This game punishes those with large egos, and rewards those who are able to keep their emotions and egos in check. Life works in very similar ways, the sooner we get adept at understanding these intricacies, the sooner we can reach our goals.

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