Any entrepreneurs considering partnering with someone who likes to gamble irrationally would do well to beware. There is usually a large element of risk when gambling, and it would be unwise to enter into a partnership with someone whose judgment may be clouded by their love of gambling.
Contrary to popular belief, there is more to being a successful poker player than meets the eye. In fact, many of the skills required for success in poker are transferable to business.
In this article, we will explore ten reasons why partnering with a poker player could be a shrewd business move.
1. Despite Incomplete Information They Can Evaluate the Risks
To confidently put your business, resources, and livelihoods of your managers and their teams at risk with your next major investment or business decision, you need to have alternative mindsets that take into all the facts, figures, and projections of possible outcomes.
Without complete data, the risks are higher. An unknown quantity can lead to unforeseen problems or activities with outcomes that are impossible to predict. The poker-playing entrepreneur is able to make quick decisions based on gut feeling, and I have found that they are often accurate.
2. They Can See Into the "Minds" of Others
How many of us prefer a resume full of qualifications and experience when hiring someone? The poker player will likely see the applicant for who they are. Their ability to choose new team members based on their managers is a judgment made without taking into account prior experience or education, but rather on what kind of person they are. Just like with poker hands, the best players can read their opponents and know when to bluff or call.
3. Innovation is a Standard Feature
Constantly changing plans and strategies is essential to winning in poker, and it's the same for business. Leaders who are flexible enough to change with the times are the ones who succeed. Moreover, the best poker players are always looking for an edge and are willing to take risks to get it. This innovative thinking is something that all businesses should aspire to.
4. They Are Good at Managing Money
One of the most important aspects of poker is money management. Players need to be able to control their bankrolls and know when to quit. This is essential for any business owner, as it is all too easy to throw good money after bad in the hopes of turning things around.
5. They Have Discipline Determination and Passion
People always wonder about the mindset that poker players were in it for the money, but it's surprising to know over the years that this rarely is the case. For most, it's the passion to play and win the competition element above all else.
Of course, prize money is a clear indicator of success within the game, but more often than not it's driven by something greater than simply desiring wealth; rather, an emotional commitment and understanding that achieving such success demand immense discipline. These types of individuals are some of the toughest entrepreneurs out there because they know what drives them internally.
6. Their Network Includes Some of the Most Interesting Businesspeople
Professional poker tables usually have a lot of money surrounding them, which attracts wealthy and successful people. These individuals often have large networks of other highly disciplined and successful players that they can consult for new investment opportunities.
7. If a Deal Doesn't Work Out, They Don't Waste Their Time
Society tells us that we will get more out of a situation if we put more in, which often leads us to wasted effort. The ability to make quick decisions about situations that have potential versus those that don't is valuable outside of the card game, and can help you save time and money by quickly discarding business opportunities that are not worth your investment.
8. Businesses Love Partnering with Entrepreneurs Who Play Poker
The energy and mindset that poker players bring to daily operations as well as the excellent returns they tend to achieve make them ideal candidates for successful business ownership. These types of individuals are always looking for new opportunities and are not afraid to take risks. Many businesses seek out poker-playing entrepreneurs because they know they will be able to provide a high level of excitement and return on investment.
9. They Are Always Learning
The best poker players are always studying the game and looking for ways to improve their skills. This type of dedication is essential for any business owner who wants to be successful. Constantly learning and improving is the only way to ensure that you are staying ahead of the competition.
10. They Have a Competitive Edge
Poker players are naturally competitive people who are always looking for ways to win. This type of mindset is essential for any business owner who wants to be successful. always being on the lookout for new opportunities and ways to improve your business will give you a clear competitive edge.
Poker players have a lot to offer businesses. They are disciplined, passionate, and always looking for ways to improve their skills. These types of individuals are the perfect candidates for successful business ownership. If you are looking for an edge in the business world, partnering with a poker player is a great way to get it.