The Poker Episode

THE SHOW - Episode 4.3
click an icon above to see more posts on that topic

Go To Comments





In startup, everyone talks about failure and a lot of folks even encourage it -- Fail fast and fail often, they say. There's nothing wrong with this mantra, on its face, but it's rare that someone will actually walk you through what failure looks like and how to prepare for it. In startup, failure isn't the loss of your startup, failure is a long parade of pain.

In corporate life, failure is the loss of your job, maybe the loss of your house, your car, your family, everything you've worked so hard for. A lot of folks avoid startup because it seems like the risk is much higher to wind up in that aforementioned nightmare situation. But contrary to conventional wisdom, entrepreneurs don't love risk, they love to stare down risk, tolerate it, and mitigate it. If they're good, they eliminate it.

That got us talking about poker.

ARTICLE CONTINUES BELOW

Join Teaching Startup


Teaching Startup is a free on-demand digital accelerator for entrepreneurs at any stage.

INTERACT with other entrepreneurs.

LEARN from other entrepreneurs.

THE STARTUP SHOW to keep you motivated.

Get started by entering your email address. You'll get an email which will guide you through the rest.

Email Address
Caveat: By joining, you'll opt-in to our weekly email update. Cancel at any time.

Every entrepreneur should play poker, we're talking no-limit Texas Hold Em in a live situation, because there's no better way to learn about risk. This isn't gambling, although maybe it's smart gambling, a scenario in which the more you do it, the better you get at it, and the less likely you will lose.

You'll still lose, mind you, no matter how good you get. But you'll be able to recover, move on, and play another round.








Q&A + Comments
You must be logged in to participate in Q&A or post a comment.


FEEDBACK
Your Email Address
Leave it blank to be anonymous
Your Thoughts?


YOU MIGHT ALSO LIKE...

Join Teaching Startup and we'll customize a lesson plan for you. Follow Teaching Startup and you'll get a heads up whenever we post new content. If neither of those appeal to you, here's some stuff we're guessing you might learn from.

If VCs Want To Survive, They'll Need To Evolve
Send me your pitch deck is very quickly being replaced by Send me your dashboard. And it's going to say a lot more about how fundable your business is.

How To Find a Problem For Your Solution
In Episode 6.7 of The Startup Show, we talk to NeuroPlus founder Jake Stauch about how his amazing brainwave tech struggled to take off until he found the right problem for his solution.

Tatiana Battles the Big Boys
In Episode 6.6 of The Startup Show, we discuss the challenges of taking on entrenched players in retail with Mati Energy founder and CEO Tatiana Birgisson.

Entrepreneur Isn't a Job
In Episode 6.5 of The Startup Show, we talk about how people who aren't entrepreneurs rarely understand what entrepreneurs do, let alone respect what we do. But it's also rare that they love what they do as much as we do.

How to Start a Company Outside of Silicon Valley
In Episode 6.4 of The Startup Show, we're kind of done with all the thinkpieces coming down from on high pleading that every startup ecosystem that isn't Silicon Valley should stop trying to be like Silicon Valley.




Pick a Topic
Get Educated


Teaching Startup has lessons -- written, video, and audio -- covering 25 important foundational areas of startup: Stages, Roles, Kinds, Funding, and Reasons.

Each lesson on the site covers at least one and up to five of these areas. Pick and choose what you need to know and how you want to learn it.

Click here. Choose a topic. Read, watch, listen, and learn