Had Enron executives heeded the advice in The Poker MBA: Winning in Business No Matter What Cards You're Dealt, who knows how much trouble they might have saved themselves. Instead, they ran a billion dollar bluff against their own employees and stockholders, then got check-raised with congressional hearings and threats of imprisonment. Thanks to incessant greed and stupidity, now they're drawing dead. Bad beat stories are now being told all over Houston.
The rules that apply to boardrooms and poker tables are pretty much the same. In fact, business and investing are entwined with gambling metaphors. Well-defined goals, strategic considerations, negotiating skills, and the ability to balance risk versus reward are vital talents that every professional poker player and business executive must have in order to succeed. Now, there is finally a book on the subject.
Greg Dinkin and Jeffrey Gitomer have teamed up to create The Poker MBA: Winning in Business No Matter What Cards You're Dealt. The original title of their book was to be, "Everything I Know About Business I Learned at Harvard Business School" -- with Harvard Business School boldly scratched out, and "the Poker Table" willfully inserted. Very catchy. Whatever the title, the authors' message to readers is abundantly clear -- that poker and business are invariably linked, as closely connected as chess and war.
Both authors should know. Greg Dinkin once worked as a prop player at the Bicycle Club and still plays poker part-time for a percentage of his income. He is a successful writer, having written "The Finance Doctor," and works as a literary agent now based in Los Angeles. In fact, he has just accepted an executive position with the soon-to-be televised World Poker Tour. Co-author Jeffrey Gitomer has played poker for over 40 years. He is a writer and speaker whose expertise on sales, customer loyalty, and personal development is world-renowned. Gitomer is a popular speaker and consultant to large companies including Coca-Cola, AT&T, Sony, and Federal Express. The writers called upon their collective talents and used an impressive string of personal contacts to garner interviews with top business leaders, including several corporate CEOs.
Throughout the book there are numerous stories of successes and failure -- both in business and poker -- including stories from Warren Buffet to Doyle Brunson, business leaders and poker champions wantonly preaching the gospel of high finance. After a few chapters, it becomes obvious how lessons learned at the poker table help in managing business and personal finance. The Poker MBA will be particularly helpful to those just starting out in business, as special attention is given to small businesses and how they might grow and proper. Not surprisingly, many of the same principles that apply to small business also apply to novice poker players who aspire to become professionals.
This is groundbreaking territory that's being covered here. Let's face it -- most poker books do not appeal to non-players. Dinkin and Gitomer have authored an indispensable crossover work which melds the two complex worlds into one, without ever sounding contrived or pretentious. With chapters on strategy, image, managing a bankroll, building partnerships, and other key topics, the authors cover all the bases of what one might encounter in a public cardroom, or launching a business. Those lessons prove to be invaluable as the same fundamental tenants of dedication and trust extend far beyond just the formative years -- onward to giant corporations and those who eventually make it big in the game of poker. Perhaps those who have made it to the top need an occasional reminder of the basics. Again -- just ask Enron or Arthur Andersen.
The book's best passages entail business anecdotes that prove a point about poker which, by contrast, demonstrates how a poker situation mirrors an important investment opportunity. In one interview, former world poker champion turned casino executive Bobby Baldwin says: "I've always used poker to make decisions about my professional and personal life. Every day, I rely on my poker acumen in one way or another."
One thing The Poker MBA is not; this book is not a guide on how to play poker. But it will certainly teach you how to manage the money you win at the poker table (or earn elsewhere) more wisely and allow you to make wiser financial decisions your life -- which is probably more important than any standard poker book. After all, how many poker players are winners at the table, but not nearly as successful in life because they can't manage their own state of affairs? Sadly the answer is -- far too many. This book is the answer for them and all us -- a sure-fire recipe for the accumulation of knowledge and wealth in a challenging world where everyone else is striving to get rich. This book is certain to give new insights into business planning and help to achieve long-term financial goals. In fact, every professional poker player should probably read this book -- as they could be missing some important advice that is written for poker players, by poker players who understand the risks of the game.
For non poker players -- if you're thinking of starting a small business, buy this book. If you want to invest wisely, buy this book. Even if you just want an entertaining read that will make you think about how to maximize your earning potential, buy this book. Dinkin and Gitomer have succeeded in making poker a respectable teaching tool to non-players by using some very clear and helpful ideas which deserve our recognition. This is an outstanding book.
The rules that apply to boardrooms and poker tables are pretty much the same. In fact, business and investing are entwined with gambling metaphors. Well-defined goals, strategic considerations, negotiating skills, and the ability to balance risk versus reward are vital talents that every professional poker player and business executive must have in order to succeed. Now, there is finally a book on the subject.
Greg Dinkin and Jeffrey Gitomer have teamed up to create The Poker MBA: Winning in Business No Matter What Cards You're Dealt. The original title of their book was to be, "Everything I Know About Business I Learned at Harvard Business School" -- with Harvard Business School boldly scratched out, and "the Poker Table" willfully inserted. Very catchy. Whatever the title, the authors' message to readers is abundantly clear -- that poker and business are invariably linked, as closely connected as chess and war.
Both authors should know. Greg Dinkin once worked as a prop player at the Bicycle Club and still plays poker part-time for a percentage of his income. He is a successful writer, having written "The Finance Doctor," and works as a literary agent now based in Los Angeles. In fact, he has just accepted an executive position with the soon-to-be televised World Poker Tour. Co-author Jeffrey Gitomer has played poker for over 40 years. He is a writer and speaker whose expertise on sales, customer loyalty, and personal development is world-renowned. Gitomer is a popular speaker and consultant to large companies including Coca-Cola, AT&T, Sony, and Federal Express. The writers called upon their collective talents and used an impressive string of personal contacts to garner interviews with top business leaders, including several corporate CEOs.
Throughout the book there are numerous stories of successes and failure -- both in business and poker -- including stories from Warren Buffet to Doyle Brunson, business leaders and poker champions wantonly preaching the gospel of high finance. After a few chapters, it becomes obvious how lessons learned at the poker table help in managing business and personal finance. The Poker MBA will be particularly helpful to those just starting out in business, as special attention is given to small businesses and how they might grow and proper. Not surprisingly, many of the same principles that apply to small business also apply to novice poker players who aspire to become professionals.
This is groundbreaking territory that's being covered here. Let's face it -- most poker books do not appeal to non-players. Dinkin and Gitomer have authored an indispensable crossover work which melds the two complex worlds into one, without ever sounding contrived or pretentious. With chapters on strategy, image, managing a bankroll, building partnerships, and other key topics, the authors cover all the bases of what one might encounter in a public cardroom, or launching a business. Those lessons prove to be invaluable as the same fundamental tenants of dedication and trust extend far beyond just the formative years -- onward to giant corporations and those who eventually make it big in the game of poker. Perhaps those who have made it to the top need an occasional reminder of the basics. Again -- just ask Enron or Arthur Andersen.
The book's best passages entail business anecdotes that prove a point about poker which, by contrast, demonstrates how a poker situation mirrors an important investment opportunity. In one interview, former world poker champion turned casino executive Bobby Baldwin says: "I've always used poker to make decisions about my professional and personal life. Every day, I rely on my poker acumen in one way or another."
One thing The Poker MBA is not; this book is not a guide on how to play poker. But it will certainly teach you how to manage the money you win at the poker table (or earn elsewhere) more wisely and allow you to make wiser financial decisions your life -- which is probably more important than any standard poker book. After all, how many poker players are winners at the table, but not nearly as successful in life because they can't manage their own state of affairs? Sadly the answer is -- far too many. This book is the answer for them and all us -- a sure-fire recipe for the accumulation of knowledge and wealth in a challenging world where everyone else is striving to get rich. This book is certain to give new insights into business planning and help to achieve long-term financial goals. In fact, every professional poker player should probably read this book -- as they could be missing some important advice that is written for poker players, by poker players who understand the risks of the game.
For non poker players -- if you're thinking of starting a small business, buy this book. If you want to invest wisely, buy this book. Even if you just want an entertaining read that will make you think about how to maximize your earning potential, buy this book. Dinkin and Gitomer have succeeded in making poker a respectable teaching tool to non-players by using some very clear and helpful ideas which deserve our recognition. This is an outstanding book.
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