I just finished a Texas Hold-em tournament and received 2nd place. This was the 2nd tournament I ever entered and during my first tournament I was the first one out.

I feel there are strong similarities between poker and business.

1) Learn from your mistakes - I was too aggressive too fast during my first tournament - (In a startup don’t be too aggressive. Be more conservative in the beginning. For example, keep your overhead down. Don’t hire a lot of people right out of the gate. Don’t go after the largest client when your product is in alpha. Work out the bugs first before you begin to market aggressively.)

2) There are a lot of Bull Shitters - (Learn to read people and weed them out. Hire slowly and fire quickly)

3) Don’t back down from the bully - (Your competition is bigger and more experienced than you. Don’t be intimated. They are usually slower and less focused. You can and will beat them)

4) The one with the least amount of chips is usually the one who offers the most advice- (Find mentors that are winners. Learn from those who have succeeded. Be careful of those who talk and don’t walk.)

5) The one with the most chips at the final table doesn’t mean they will win - (Things can change quickly. Stay focused and do one thing very well. Don’t take unnecessary risks. Be calculated. Remember what got you to the final table)

6) Don’t let them know you are scared - (Learn to control your nervous characteristics. In business, learn to overcome your anxieties. When speaking in front of a large client, prepare and practice. Control your fears with knowledge, breathing techniques, and practice.)

7) Take the blinds when the time is right - (When your chips are down, know when to take the blinds by taking a calculated risk of a large bet even when you have no cards. Take risks. Be calculated. Enjoy the ride.)