“World Series of Poker Champion Annie Duke has made millions playing poker. Her trick? She’s found a way to put a number on what she can and cannot know. She tells us how we might take her math-minded ways away from the card table, and put them to use in the everyday gambles that steer life outside the casino.” – produced by Radiolab
What if you could have fun and improve your business skills at the same time?
One casino game in particular has been gaining notoriety for just that – POKER. While there is some amount of luck involved, the results of the game,are based on your skills as a player. Your business skills in particular!
Poker requires reading a situation, calculating odds and probabilities, and applying risk management concepts, the same concepts required in business. Two key elements are mathematics and psychology.
Mathematical skills are used to calculate the odds of winning with each particular hand, the odds of your opponents having a hand that beats yours, the optimal bet size, the long term return you’ll get by playing in a specific way and so on.
Psychology, on the other hand, is used to analyze the behavior of your opponents. You need to read when they are strong, when they are weak, when they are bluffing and so on. You also need to know when to bluff yourself, when to represent something you may not have. These are all the skills that you can use on business situations.
Some companies like SIG have adopted a company wide annual No Limit Texas Hold’em Poker Tournament to get employees to hone all these skills. It has been met with great success!
And of course, some of the most successful people are also poker players. Just ask Bill Gates and Barack Obama.
photo credit: time.com
Women only poker nights have become all the rage in which new business relationships are made and friendships effortlessly forged. In a business world that is all too often dominated by male counterparts, these special evenings allow for private networking and informal discussions of common issues.
Often the tournaments are simply for fun or bragging rights, while others have been used to raise money for favorite charities or connecting top business talent with non-profits for pro bono work.
For men, a good deal of business has been conducted in social situations – the golf course, private clubs and even poker nights. Now women are inviting colleagues at the top of their field to network and help each other over this fun filled form of entertainment.
While the ins and outs of Texas Hold-em Poker may not be as familiar to all, companies like Philly Casino Parties offer lessons and “teach-ins”, so all the players may start off on an equal footing. More importantly, during these sessions, meaningful connections are instantly established.
Intellectual salons have been nothing new. Women’s only networking events have also been commonplace since the late 1990’s. However, these specialize poker evenings, managed by Philly Casino Parties, offer a way to get the right people together for an intimate, competitive, friendly and unencumbered by agenda evening. Contacts are made, laughter abounds, a new business mindset is developed and connections are renewed.