Being an entrepreneur can be a risky venture. A lot of business acumen is required to establish an entrepreneurial position of a strong footing. Being a successful poker player requires a lot of skill combined with strategy and resource management. It definitely involves a certain degree of risk assessment as well. Probability calculation and psychological elements are the key part of both parties- poker players and entrepreneurs. It is true that poker and entrepreneurship have a lot in common. In its real from, a shark is a shark, whether it’s a poker shark or a business shark. Let’s have a look at the skills that poker players and entrepreneurs have in common:
Both the ventures require a certain level of evaluation to make precise decisions in order to eliminate chances of risk. It definitely involves mapping out the various possibilities and calculating the odds of every outcome. A logical approach always involves calculating odds in order to properly manage your expectations, along with knowing exactly when to place your bets.
Good poker players can easily call a bluff. That sure has got to do with analyzing non-verbal cues such as body movements and facial expressions to understand what’s going on in the other player’s mind. Poker helps in reading people and analyzing their next moves which is also helps a businessman while closing a deal.
Making the Best of Opportunities:
Poker isn’t all a game of luck. It definitely requires a skill set like mathematical calculations, analytical thinking, patience, etc. to be a successful poker tournament player, and the odds of establishing a successful startup are much the same as winning a tournament. In other words, running a business also requires a proper skill set like decision making, mathematical calculation, etc. that playing poker can enhance.
Learning from Failure:
Playing poker involves ups and downs which requires a player to be optimistic enough. A poker player has to have faith in himself and should always play with a hope to try again if failed. Similarly, in business, it is equally important to learn and grow from your failures. Thus, you can be making all the right moves but still lose, so always be ready to start over and keep going on.