While the rules of poker are simple and the game itself is quite accessible, success typically requires more skill than luck. There’s a wisdom there that we can take from the game and apply to the startup life.
So if you’re looking to win a big pot, here are a few things to keep in mind:
Calculate the odds – Good poker players calculate two kinds of odds before playing: the Pot Odds (or the ratio of money to put divided by the money to gain – the Pot itself) and Card Odds (the probability to have a winning hand). Anytime the Pot Odds are higher than the Card Odds, the hand is worth playing.
Likewise, you must try to evaluate the odds of your startup’s success: How likely is it to succeed? And how big would the ‘pot’ you’d win be?
To read the full, original article click on this link: 8 poker tactics that apply to startups | VentureBeat
Author: Emmanuel Marot
