With the amazing success of Texas HoldÂ’em, the time might be right to make a few comparisons that the average person can relate to. If you have a business or are considering starting one, these tips could help you in your venture. LetÂ’s join a poker game in progress. You are the new player, with your new business in tow. You first must decide if you want to play, in other wise, ante up, at this time.

THE ANTE: Are you willing to get involved in the game of the business world or not? Do you have the bankroll to continue? LetÂ’s say you do. Now you are dealt a hand.

THE HAND: You are now staring at a hand full of hopeful cards. In other words, youÂ’re starting up your business and must make a lot of decisions based on what you have now and what you know now. You also have a few options, regarding investing. How much should you allow for start-up costs? Do you want to bet on that hand?

THE FIRST BET: Assuming you have a decent beginning, you buy the equipment, secure the store front or other things needed to get going. Now you check your hand and figure out what needs your attention first. There are some competitors around, so you watch what they do.

THE FLOP: You get to see what is happening on the table. With these community cards, it gives you a feel for where you stand. Now you must continue to add more money into the pot, your business, or fold. You evaluate where you are heading and choose to go on.

THE TURN: You now can watch the business come a step closer to completion. Do you like what you see? Are you ready to move forward or pack it in? After reviewing the competition and seeing their status, you check and allow the situation to play out.

THE RIVER: Your business is about ready to open. You have gotten past most of the initial obstacles. You must look at your remaining budget and resolve to see it through with those funds. ItÂ’s a big bet, but the rewards can be too. Are you ready to go all in, at this point? With most of your money in the pot, the answer appears obvious. The other players or competitors are awaiting your call. They also have a lot at stake and realize that a new player can affect the whole game.

I could have also picked almost any other card game, a casino game, Monopoly, The Game of Life, or just rolling the dice. The comparisons are endless, but real. The difference is that you business can alter your entire life and future. Here are the lessons to be learned from these games. Be careful, but willing to take chances. Have the money to back up your actions. Watch and react to the other players. Know when to hold them and know when to fold them. Learn from your mistakes and learn from the veterans that already have successful businesses. Remember that practice always helps and be prepared for failure. Now go out and play to win.

Jeffrey Hauser was a sales consultant for the Bell System Yellow Pages for nearly 25 years. He graduated from Pratt Institute with a BFA in Advertising and has a Master’s Degree in teaching. He had his own advertising agency in Scottsdale, Arizona and ran a consulting and design firm, ABC Advertising. He has authored 6 books and a novel, “Pursuit of the Phoenix.” His latest book is, “Inside the Yellow Pages” which can be seen at his website, http://www.poweradbook.com and he is currently the Marketing Director for http://www.thenurseschoice.com a Health Information and Doctor Referral site.

The Inside Story of the MIT Blackjack Team – Part 1 of 4

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