Tony Hsieh, CEO of Zappos wrote an insightful post about applying what he learned playing poker to how he runs his business. I have played for years and in the last 3 years have been applying techniques I learned in game theory to running a business and client relations. Strategically, poker and business are very similar. Tony says it better than I though, so read the full post here.
Some key insights:
- If there are too many competitors (some irrational or inexperienced), even if you're the best it's a lot harder to win.
- Help shape the stories that people are telling about you.
- The guy who wins the most hands is not the guy who makes the most money in the long run.
- Don't be cocky. Don't be flashy. There's always someone better than you.
- Have fun. The game is a lot more enjoyable when you're trying to do more than just make money.
- Just because you win a hand doesn't mean you're good and you don't have more learning to do. You might have just gotten lucky.
and there are many more to learn from in the full article.
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