2BlogPoker.com

Anytime you sit down at a poker table and risk your hard earned money, you should treat every thing you do as if you’d just sat down in your office. Business is about calculated risk, making the best decisions to generate the desired returns, and avoiding situations where the reward does not merit the risk. Sound familiar? It should, because this is exactly the way you should approach playing poker.

1) Risk vs. Reward:
Poker is a game of chance, there is simply no way around that. It is impossible to know what card is going to come next. What is known though is probabilities, and you should know your numbers inside and out. No successful business would ever make a major decision without knowing the numbers inside and out, whether is be a merger, launching a new product or even deciding to close up shop! Know your numbers and know them well.

2) Record Everything:
If you charge a meal to your work credit card, they probably expect you to put in an expense report. This is because documentation is king. There is nothing worse in business than being unsure where your money is moving to and from. Poker is no different. Record everything. What table you were at, what room, what stakes, buy in, cash out, time played, etc. This information is the key information that you should be using to analyze what sort of returns you’re getting on your time and money.

3) Cash Flow:
Cash flow is king in business and in many other aspects of life. I can’t even recall the number of times I’ve heard players say that they just sunk a big chunk of their available cash into an online room. Even if you’re good enough to be playing at the stakes you are, putting money into online poker should never hinder your day to day cash flow. Remember, if you go to a grocery store, you can’t pay for your milk with money in your account. Always make sure that you have enough cash flow to cover day to day expenses and only deposit cash that won’t affect this.