With five young kids at home, my social time is limited, but I’ve enjoyed a few poker nights with friends. Early on, I played aggressively, trying to win every hand. Unsurprisingly, I lost—until I learned that success comes from folding often and playing only the hands that matter.
That lesson transformed my approach to business. Initially, I chased every lead, hoping for the perfect client. But like poker, relying on “ifs” doesn’t win the game. Instead, I learned to evaluate prospects carefully, focus on the right opportunities, and walk away when things weren’t clicking.
By folding a failing strategy and pivoting to a new market, my company generated in a few months what previously took three years—at a fraction of the effort.
The Business Lessons from Poker
1. Know When to Fold
Success isn’t about playing every hand; it’s about playing the right ones. I once pursued a client who didn’t even read my initial questions. That experience led me to implement a litmus test: no prep, no meeting. Filtering out bad bets saves time and money.
2. Bet on What Works
Growth happens by focusing on the hands with the best odds. Starbucks recently refocused on core customers, dropping unnecessary complexity. My business took a similar approach, shifting from big-budget, high-maintenance clients to industries needing occasional support—leading to major wins.
3. Adapt to the Table
Markets change. New players enter. Watching and adjusting your strategy is key. We pivoted from competing with PR agencies to supporting them, filling staff gaps instead of fighting for clients. This tweak turned competitors into partners, unlocking steady revenue.
Poker—and business—isn’t about winning every hand. It’s about knowing when to fold, when to invest, and when to go all in. The best entrepreneurs, like the best players, master the art of patience and precision. Play smart, and the big wins will come.
Source: https://www.theceomagazine.com/business/start-ups-entrepreneurs/fold-in-poker-better-business-owner/