Poker has picked up steam in India
over the past 10 years. From legal off-shore casinos in Goa and student hostels
to professionals catching up over weekends and poker apps on smartphones,
either you or someone you know swears by poker for its entertainment value or
the excitement of making money. Like every other great game, poker has many
lessons to offer for your life or career, if you choose to learn.
Pick the right table- A poker
player who does not want to lose money knows that a table full of vacationers
or friends catching up over drinks is a better bet than a table full of serious
looking professional players. Similarly, picking a career or
the right employer is the most important decision you will
take. Choose one where your own skills are in short supply, have a direct
impact on the business and the employer is willing to recognize your
contributions.
Keep improving- The first
few skills that a poker player learns are the meaning of different combinations
of cards, the mathematical odds of success of each, and calculation of risk
depending on how many players are still playing, the size of their stacks, the
position on the table and how many cards are yet to be dealt. Identify the
basic skills required for your job and master them. Your skills will grow with
experience and so will your self-knowledge about how you respond to people and
situations.
Discipline compounds your wealth- The ability
to consistently play at a high standard is what creates sustainable success in
poker. A single emotional disastrous decision can wipe out the winnings of a
complete evening. Your wealth is built over long-term discipline in pursuing a
career path in an industry or a skill set and building over your past successes
and promotions. A single poor action can destroy your reputation and
credibility, denting your wealth significantly.
It’s a lonely journey- The poker
player traverses a lonely journey in his mind. He questions his decisions when
he is losing and cannot seek solace inside the game. In your profession too,
you will be lonely. No one else can take your decisions for you. You cannot
seek sympathy at work for your poor decisions and have to bear the consequences
alone. Be prepared.
Take the plunge- Players who
take zero risks always lose and slowly bleed away their stack over multiple
hands while they wait for their dream cards. If you are afraid to try out new
roles and responsibilities, or switch jobs, or accept that target, you will be
trapped in a sense of false security and bleed with every passing year of your
career. Go take that jump and constantly step out of your comfort zone to win
big.
A bad hand is not the end- A bad card
situation can change when new cards are on the table and if you play the game
well. At work too, being the weakest in the team is not the end. You can build
upon your output and a change in circumstances can push you to the top.
Similarly, good times can turn too. So don’t take a promotion, bonus, your boss
or even your job for granted.
Enjoy the game- Poker works because people enjoy it in the right spirit.
When playing for fun, players ignore rule violations, friendly indiscretions
and distracting banter. When playing for serious money, players don’t seek
emotional fulfillment on the table. Similarly, pick a career you enjoy. At your
workplace, don’t expect your team to fulfill your emotional needs. Keep your
ego in check and never let your emotions run riot and take you away from your
primary focus of career growth.
The past is meaningless- The past
has no bearing on the present cards dealt in poker. Each hand is played on its
merits. Don’t carry baggage from your past employer, work culture, expectations
or even failures into your current role. The new outcomes are not dependent on
your past but on where you choose to be available and how you act now.
Let the casino keep the rake- In a
casino, at the end of every hand, the dealer strips away 5% of the total
winnings of the table for the casino. This is the rake, the fee for the casino
to operate the business. Your employer likewise needs to survive and grow in
business. While it creates opportunities for your growth and wealth, know that
your employer’s goals need to be met first. Don’t forget to deliver outcomes
while you pursue your dreams.
Walk away from bias- Sometimes
players cheat and a bunch of them play in concert against the rest. If the
dealer doesn’t take corrective action, then the table is biased against the
lone player, who ultimately loses. Similarly, if you perceive extreme politics
or discrimination, harassment, or bias that the employer is unwilling to
change, then walk away and find a fair workplace.
LESSONS FOR THE ENTREPRENEUR
Decisions without complete data- On the poker table, you never have perfect information and yet you take a
decision to bet or not in each turn of play in a hand. Likewise, in
entrepreneurship, you will operate on incomplete data and, to win, you need to
take immediate daily decisions based on your ability, personality and intuition.
Some might go wrong.
Your co-founder called luck- Sometimes the luck of the draw lands in the player’s favor. With a poor
hand and a low pre-flop investment, he wins a full house in a dramatic reversal
of fortunes. Every successful entrepreneur has a story about when their
co-founder called Luck flopped out the perfect cards. So, limit your losses and
stick it through till that moment.
Learn how to quit- When the odds of success are negligible and the commitment of cash to
stay is huge, the good player folds and saves his stack for the next hand.
Similarly, be willing to quit and save everyone’s resources when there is no
hope of success. Deploy your energies into pivoting your business or building a
new one.
It’s the player, not the cards- Poker is not about getting dealt hundreds of hands of great cards over
multiple contests. It’s about the player and how he plays. Similarly, good
investors choose to bet on the entrepreneur more than the proclaimed business opportunity.
Go
all-in- The poker player’s biggest victories come from hands
where he goes ‘all-in’ on a winning combination. By committing his entire stack
to the game, he multiplies winnings in one go. Similarly, with a successful
pilot, a large market and customers willing to pay for your product don’t hold
back. Go all-in and commit fully to your venture.
