The Lessons of Poker for Entrepreneurs and Business Leaders

Poker is a game that is not just fun, but also offers many lessons that can be applied to other aspects of life. It is a game that requires strong decision-making under pressure, with incomplete information. This can be a good practice for entrepreneurs and business leaders who have to make decisions on limited data.

Poker teaches patience, which is important for anyone that wants to succeed in the real world. This is especially true in business, where there are often setbacks and slow periods. Poker also teaches players to be resilient, which can be a useful skill in overcoming setbacks and failure. This is an important attribute in business, but it can also be beneficial outside of business when it comes to learning how to deal with rejection and other negative situations.

Poker also teaches players to analyze their own play and that of their opponents. They learn how to read their opponents, based on things like their betting patterns, their bluffing techniques and their idiosyncrasies. Advanced players try to assign their opponent a range of hands and make decisions accordingly.

Finally, poker teaches players how to calculate probability and EV. This is a valuable skill that can be applied to other areas of life, such as when deciding whether or not to buy an expensive product. Over time, the concepts of frequencies and EV estimation become ingrained in the brain, so that they can be applied as naturally as possible during hands.