"Everything I Know About Business I Learned From Poker"

Thought provoking piece by Zappos CEO, Tony Hsieh

Some examples...

EVALUATING MARKET OPPORTUNITIES (imagine a room full of playing tables crowded with folks, like our markets -KK)

• Table selection is the most important decision you can make.
• It's okay to switch tables if you discover it's too hard to win at your table.

MARKETING AND BRANDING

• Act weak when strong, act strong when weak. Know when to bluff.

FINANCIALS

• Always be prepared for the worst possible scenario.
• Go for positive expected value, not what's least risky.
• Play only with what you can afford to lose.

STRATEGY

• Don't play games that you don't understand, even if you see lots of other people making money from them.
• Figure out the game when the stakes aren't high.
• Hope is not a good plan.

CONTINUAL LEARNING

• Educate yourself. Read books and learn from others who have done it before.
• Learn by doing. Theory is nice, but nothing replaces actual experience.

CULTURE

• You've gotta love the game. To become really good, you need to live it and sleep it.
• Don't be cocky. Don't be flashy. There's always someone better than you.
• Be nice and make friends. It's a small community.
• Have fun. The game is a lot more enjoyable when you're trying to do more than just make money.

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