By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Start Your Business Magazine
  • Store
    Merchandise
    Subscribe
  • Features

    Grow, expand and leverage your business..

    Grow your start up business with our experts and industry insiders…

    Get Started

    Quick Links

    • Agenda
    • Business Books
    • Marketing
    • Technology
    • Wellbeing
    • Finance
    Reading: How Playing Poker Can Improve Your Business Skills

    Our Newsletters

    Our website stores cookies on your computer. They allow us to remember you and help personalise your experience with our site..

    Read our privacy policy for more information.
  • Book
  • Trending
    agenda

    Blurred lines between work and home are harming SME productivity – here’s how to fix it

    For many small business owners and their teams, the modern workday no…

    UK Revealed as the Worst European Country for Commuting

    With many employers reinstating back-to-office policies post-pandemic, the cost and toll of…

    agenda

    Business Investment 2025

    How Much are UK Entrepreneurs Willing to Invest in 2025? New Survey…

  • Topics

    Topics

    • Agenda
    • Blogs
    • Book Review
    • Business Advice
    • eCommerce
    • SME Update
    Reading: How Playing Poker Can Improve Your Business Skills
    • Events
    • Business Experts
    • Featured
    • Franchise
    • Growing Business
    • Health
    Reading: How Playing Poker Can Improve Your Business Skills
    • Finance
    • Franchise Experts
    • How To
    • Interviews
    • Just for fun
    Reading: How Playing Poker Can Improve Your Business Skills
    • Lifestyle
    • Making money
    • Manufacturing
    • Marketing
    • Money
    • Property
    Reading: How Playing Poker Can Improve Your Business Skills
    • Starting Up
    • Taxation
    • Technology
    • Wellbeing
    • Women in Business
    Reading: How Playing Poker Can Improve Your Business Skills
Reading: How Playing Poker Can Improve Your Business Skills
Connect
Start Your Business MagazineStart Your Business Magazine
Aa
  • Magazine
  • SEO – Backlinks
  • Book: Start Your Business
Search
  • Agenda
  • Book Review
  • Blogs
  • Finance
  • Growing Business
  • How To
  • Interviews
  • Marketing
  • SME Update
  • Starting Up
  • Technology
  • Wellness
  • Contact
Have an existing account? Sign In
Follow US
  • RSS
  • Terms And Conditions
  • Privacy Policy
  • Contact
  • Licensing
  • SEO
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.

How Playing Poker Can Improve Your Business Skills

Start Your Business
blog Just for fun
Share
5 Min Read

Business experience doesn’t always need to come from the corporate world…

After all, succeeding in business requires a whole host of experience and skills, but the best students look at how they can learn from every interaction they have. There are opportunities to learn all around us as well as chances to network with people. Thinking that you can only gain those skills in a classroom or in a boardroom will shut you out to a lot of great learning opportunities. Knowing how to learn these lessons ahead of time is key to avoiding some of the worst headaches owning a business can offer.

Contents
Business experience doesn’t always need to come from the corporate world…Be Process DrivenMitigate RisksKnow Your Business Environment

Sometimes we can gain new skills in unusual ways, such as playing games like poker. The two worlds are very different, but there are lots of lessons that can be picked up at the poker table that can make you a better businessperson.

Be Process Driven

It is easy to get bogged down in the end goal when it comes to business. Having a successful company, with money to retire on when the time comes, is often the vision that keeps business owners getting up in the morning. However, fixating on something in the distance can distract from the day-to-day work that goes into making that dream a reality. It can cause people to take bigger risks than are necessary and, ultimately, to become disheartened by the small victories that are needed to reach those big goals.

The same is true when it comes to poker. Focusing on defeating a specific opponent or winning a certain hand can cause people to continue playing hands that should be folded or making bets that don’t make sense with the circumstances in front of them. Whether you are playing poker or building your business, sticking to your plan is going to be a much better path to success than taking big risks.

Mitigate Risks

It is impossible to succeed in business without taking risks. Those risks might be big or they might be small, but they always need to be managed and calculated. Business is all about calculation; profits, risk, resource levels, and much more. Being able to calculate risk is a key element for any business owner, which is handy, as it is also a key attribute of a successful poker player. Calculating poker odds is more than just knowing the poker hand rankings. It is about figuring out exactly how likely a better hand than yours is to come up so you can bet accordingly.

Knowing when a risk is worth taking is important in both poker and in business and you can’t do that if you don’t train your brain to calculate the risks in front of you. That is a skill that can be gained through poker and will help you keep your head in the game when it comes to business.

Know Your Business Environment

Good market research is something that every business owner does from time to time. Learning who your customers are and, more importantly, finding out how your competitors are meeting their needs is a key to keeping ahead of the curve and never getting left behind. It allows you to position yourself so you can survive in case of an unexpected turn in the market.

In poker, players will look for another player’s tell, some sign that they either have the best cards or are, in fact, bluffing to try to get themselves out of a bad situation. This isn’t always as reliable as it is in the movies, but it starts with doing research into an opponent’s play history. What cards do they like to fold and which do they like to play? Data is more reliable than any tell could ever be.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Start Your Business November 9, 2021
Share this Article
Twitter LinkedIn Reddit Email Copy Link
  • RSS
  • Terms And Conditions
  • Privacy Policy
  • Contact
  • Licensing
  • SEO

Get the latest from us delivered straight to your inbox

Start Your Business Magazine: The Ultimate Business Start Up Guide provides information advice and guidance for entrepreneurs and new business start ups. Get the latest from us delivered directly to your inbox.

Our website stores cookies on your computer. They allow us to remember you and help personalize your experience with our site..

Read our privacy policy for more information.

Copyright 2023 Gambit Interactive Media Limited – All Rights Reserved.

Manage Cookie Consent
We use technologies like cookies to store and/or access device information. Cookies are used for ads personalisation We do this to improve browsing experience as well as show personalized ads. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?