6 Ways Playing Poker Can Help You in Business
Category : Gambling
There is nothing more thrilling than a tight game of poker. As the stakes go higher and the pressure starts to build, the table turns into a bomb of excitement that infects everyone. But there is so much more to poker than just trying luck and passing time. Many studies show that poker players develop certain skills that can be very helpful in the corporate world.
It teaches you how to manage money better
Poker is a perfect example of quick strategizing and managing finances expertly. As a player, you learn when to raise your bets, when to ride the wave and what is the right time to get out. This understanding of a dynamic environment comes in very handy when you have to make business decisions regarding expansion, investment and more.
You learn how to keep the “Poker Face”
Poker face is the term signifying the composure that poker players are expected to keep in order to not give away their game cards. The same holds true for your business negotiations and corporate discussions. A good business leader is expected to contain his excitement or dissatisfaction in a corporate setup. This helps in negotiating better terms or cracking that important business deal. Playing poker can improve your face game, enabling you to sell better in your business.
Assessing risks before taking chances
Gambling is all about taking risks. But only placing bets or raising stacks does not ensure winning. It involves careful risk assessment and navigating through unfavourable situations with strategic moves. Identifying the right hand to bet on, engaging the opponent when required and taking chances with various tactics are an integral part of playing poker. Sounds so much like doing business, right?
Improves performance under pressure
In poker, the game keeps on changing at every other move. As the stack grows higher, the pressure increases exponentially. The inability to keep your cool during this pressure can lead to some not so great decisions that you might regret later. Also, it can be very easy to let your emotions feature on your face in times of crisis. Poker prepares you to handle pressure and how to deceive the other parties with your facial expressions.
You learn how to read people
While “poker face” is a critical skill, you should also be able to see through the facade of other players in order to win smoothly. Poker enthusiasts who play at big top casino tables study body movements of their opponents to devise their winning strategy. In business, being sensitive to the reaction of other parties helps you tackle the situation better. Facial expressions, wrist movement, head nods, and other gesture signals give away what is going on in the mind, and with poker, you can learn how to read these signals.
Poker teaches the value of perseverance
The biggest lesson from Poker is probably perseverance. You can read everything about how to play poker, but the real way to be good at it is by playing on the table. Same is the case with doing business or selling something. You have to try techniques, make modifications, learn from your mistakes and repeat the process many times before you finally achieve the winning formula. Striving for a better game while giving your all at every game is what it takes to win in poker, and in your business.