Business Negotiations and Poker
A skill-based game, poker requires logical thinking to calculate probabilities and make firm decisions for your next move. This thinking ability translates well to other games and activities, such as business negotiations.
Poker also teaches you to be patient. While it is tempting to bet money at a bad hand, it’s important to have a reason for every action. For example, are you raising for value or as a bluff? It’s also a great way to learn how to read other players. Studying their tells (eye movements, idiosyncrasies, betting behavior, etc) will help you figure out what they’re holding and how much to raise for.
While a good poker player will rarely lose in the long run, it’s important to know how to handle a losing session. Instead of chasing losses or throwing a tantrum, a good poker player will simply take it as a lesson and try to improve their strategy going forward. This type of resilience can also be applied to other aspects of life outside the world of poker.
Finally, poker can teach you to be more aggressive when it’s necessary. While not all poker situations call for aggression, there are many where a bit of calculated risk can get you a lot further than you might expect. For example, a good poker player can push for extra value when they feel their opponent is reluctant to fold. This kind of aggression can also be useful in other areas of life, such as business negotiations.