What Does Playing Poker Teach About Life And Business?

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Unlike other casino games, which are often arranged to eliminate players, in the long run the house will always win. When you playing Poker, you compete with other opponents and the house only collects a service fee from each game. So playing poker is not a gambling game. Playing poker is a game of skill, like football and basketball. You need to learn and have strategies to win.

And playing poker will teach you many things in life and apply those things in business. Like Tony Hsieh – CEO of Zappos (a company acquired by Amazon for $1.2 billion) shared through the book Billionaire Shoe Salesman the similarities between a good poker strategy and a good business strategy. knowing “the separation between short-term thinking (such as focusing on whether I will win or lose each hand) and long-term thinking (such as making sure I have a strategy in place) sound decision)”.

Combining the sharing from Tony, Qqjili hopes you will grasp 4 lessons from playing poker to apply to your life.

Financial lessons

Financial lessons

We have a lot of problems managing our personal finances. Especially in the Eastern environment, very few parents have talks with their children about money management. Then, the first time I went to work, I got stuck in the cycle of receiving salary and repaying debt. We grow up with extremely poor personal financial management abilities. If we do not manage our own money and later start a business, we will face many difficulties in managing the company’s finances.

So according to Tony Hsieh, playing poker will remind you to always prepare for the worst situations. Make sure you have enough funds for the game and the challenges you will face. Playing poker and life always include unexpected variables. Make sure you get the answers to the above questions before entering the game.

And a huge lesson that we often make but don’t realize. Are you familiar with this saying: “The higher the profit, the greater the risk?” This saying is so common that people rush into risky forms of investment in the HOPE of high profits. leading to situations of loss and debt. When playing poker, train yourself to look for the least risky options. You need to think about the long term, not the short-term goal poker, pay attention to these things!

Lesson from Tony Hsieh: Do the expected positive value, not the riskiest thing. And hoping is not a good plan (especially when it comes to finances and strategy).

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Discipline

Discipline

Entering a game, everyone has principles and requires self-discipline to keep the principles they set. Even if you don’t pay attention, when you start playing, you all have one rule: playing for fun is okay, winning or losing doesn’t matter; It’s okay if I don’t win, but this time if I run out of money, I don’t have to borrow money like before. However, after 2 or 3 games, you start to fall into difficult situations or start to lose. You will relax your principles. When you continually change your fundamentals, you will start to lose.

Discipline yourself to withdraw from the game when you realize you can hardly win. And when you win, discipline yourself to make sure you don’t spend it all. When you win and have money in hand, be even more disciplined.

Lesson from Tony Hsieh: Stick to your principles. However, you can still adjust your gameplay as the game dynamics change. Be more flexible in this case.

Increase concentration

The first 2 cards you have in your hand are a random arrangement. But when the cards are later turned up, the decision is in your hands. Concentrate on calculating the cards given. Pay attention to your opponent’s changes every time a card is turned up. Remember all that.

Any sport or job requires concentration. With playing Poker, when players rotate around a table, you need to be extremely focused to read the changes from other players.

When there are too many choices, too many things to distract us, a person with high concentration ability will give you an advantage at work.

Lesson from Tony Hsieh: Players with high endurance and concentration will win.

Learn how to face failure

Learn how to face failure

Poker is a game, there are lessons and strategies to help you win. But the biggest lesson you learn is when you fail. And no matter what game, look back at yourself every time you fail. Ask yourself: “What will I do better next time?”

I chose the wrong table from the beginning. A table has too many good people or a table has too many people and I haven’t observed enough. When you do business, you will also have to evaluate the market before starting to play.

Always look back at yourself after each game, don’t just continue rushing into the next game with the sole goal of recovering your losses.

Poker is a game that teaches you about long-term goals. Know that the person who wins most of the hands may not be the person who makes a lot of money in the long run. And if it takes a long time, don’t let yourself lose strength. If you feel tired after a game. Take a walk or simply stop playing. Likewise in life, when you fail, pay attention to your physical and mental health.

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Lesson from Tony Hsieh: Remember it’s a long game. You will win or lose games, but what happens after that is important.

If you already know how to playing Poker, try to pay attention to these lessons for the next time you play! And if you’ve never played, give it a try with your friends. Pay attention to your decisions instead of the outcome of a game.

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