While attempting to learn to play Texas hold’em poker, I wrote a very short — and not very good — little book titled “How to Beat Your Friends and Neighbors at No limit Texas Hold’em.” I sold enough to unsuspecting buyers to cover the costs of publishing and marketing on the Internet. When some fool, I mean customer, bought the book, I always signed it: “Luck is the Enemy of a Good Player.”
In poker, the best you can do is to get all your money in when you are ahead. After that, it is up to the poker gods to determine the winner. Doyle Brunson, one of the best poker players in the world, says that you can never count a man out until the last card falls. Although poker is a game of skill, there is a good amount of luck involved. This is why bad players can continue to play. Luck will reward bad play sometimes. In the long run, luck evens out and the good players win.
So what is this all about? In business, blind luck will sometimes make someone a winner. However, even in the short run, hard work, dedication, values, persistence, relationships, etc. will win. The difference between a short game of poker and business is that one can play poker for recreation. Business must be a life and must be taken more seriously.
When you lose at poker, you can reload your bankroll and play again. A loss in business is not as easily “reloaded.” One must prepare diligently for business and life.
By the way, the song that says, “You never count your money while you’re sitting at the table. There’ll be time enough for counting when the dealing’s done,” is WRONG. You must know the size of your chip stack at all times. This is also true in life.
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