Over the course of the holidays, I am taking the opportunity to disconnect a bit and get a started on brainstorming for the New Year.  To help you do the same, I am sharing some of my favorite posts from the new eBook, “What Matters Now” that was compiled by Seth Godin.  You can download the eBook in its entirety here.

Business is a Game by Tony Hsieh

Everything I know about business I learned from poker: financials, strategy, education, and culture.

FINANCIALS

  • The guy who wins the most hands is not the guy who makes the most money in the long run.
  • The guy who never loses a hand is not the guy who makes the most money in the long run.
  • Go for positive expected value, not what’s least risky.
  • You will win or lose individual hands, but it’s what happens in the long term that matters.

STRATEGY

  • Learn to adapt. Adjust your style of play as the dynamics of the game change.
  • The players with the most stamina and focus usually win.
  • Hope is not a good plan.
  • Stick to your principles.

EDUCATION

  • Never stop learning. Read books. Learn from others who have done it before.
  • Learn by doing.  Theory is nice, but nothing replaces actual experience.
  • Just because you win a hand doesn’t mean you’re good and you don’t have more learning to do. You might have just gotten lucky.

CULTURE

  • To become really good, you need to live it, breathe it, and sleep it.
  • Be nice and make friends. It’s a small community.
  • Have fun.  The game is a lot more enjoyable when you’re trying to do more than just make money.

Tony Hsieh is the CEO of Zappos.com and the author of the soon-to-be-published book Delivering Happiness. Tony’s (longer) blog post is Everything I Know About Business I Learned from Poker.

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