September 2016

When you get down to it, everything I know about business I learned from poker: financials, strategy, education, and culture.

THE guy who wins the most hands is not the guy who necessarily makes the most money in the long run, AND, the guy who never loses a hand is not the guy who makes the most money in the long run. Go for positive expected value, not what’s least risky. You will win or lose individual hands, but it’s what happens in the long term that matters.

Learn to adapt. Adjust your style of play as the dynamics of the game change. The players with the most stamina and focus usually win. Hope is not a good plan. Stick to your principles.

Never stop learning. Read books. Learn from others who have done it before. Learn by doing. Theory is nice, but nothing replaces actual experience. 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.

To become really good, you need to live it, breathe it, and sleep it. 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.

What do you think? Make sense?

Joe Bouch
CEO, 78Madison
78Madison is a full-service marketing communications firm (advertising agency) located in Altamonte Springs Florida (Orlando).

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