I learned to play poker almost a decade ago through a Seattle startup connector called Startup Haven that connects founders with education, opportunities and (most importantly) each other. Through this journey that began in 2008, I have learned that there are a lot of similarities between the startup world and the game of poker. I have even found myself making references to poker moves in my role as a founder and CEO.
Through this journey, I have learned that there are a lot of similarities between the world of startups and the game of poker. I often find myself making references to poker game moves a lot. For example, do I fold or raise on the consumer side of our business? Do I double down or raise when it comes to employees? I even know to play aggressively when I see a possible win on the other end.
The photo below is a photo of me winning my very first poker game (out of 50-ish people) in January of this year. Crazy. BTW, if you are a startup founder, I definitely recommend checking out Startup Haven and playing the Poker 2.0 games. Super fun. You don't have to know how to play poker to go.
Last week, we had Phil Gordon in to play with us. Phil Gordon is a professional poker player who has placed multiple times in the World Series of Poker – a big deal. He’s been a commentator on poker games, designed digital poker games, and written several best sellers on poker. But more importantly, Phil is also an entrepreneur.
Before we started playing, Phil took some time to share some insights that would inspire us founders at the table: eight startup lessons we can learn from poker:
If you were to relate your startup journey to a poker tournament, where would you be right now? What does your hand look like? Are you being aggressive or not?
If you’re to take any entrepreneurial lesson from poker, it’s to be real. Don’t talk yourself into playing if you don’t know that you have the best hand. How you get to the end does matter. Don’t sell yourself short by running out of fuel earlier than you want.
I got a photo with Phil. Neither of us won the poker game in February 2017. :)
PS This article was originally posted here.