Conduct Business Like Blackjack
Feb 2, 2015
Many of the same basic strategies in blackjack can also be applied to making sound business decisions.
Just as there are many types of blackjack players, there are many different techniques. No matter what though, the game is still the same and success requires a degree of skill along with certain techniques that can greatly improve your chances. In the World of business, the same techniques can be applied and sound knowledge of them will greatly improve your chances of winning at blackjack. These successful techniques involve strategy, setting guidelines, calculating risk, staying positive, being humble, maintaining composure and doubling the outcome.
Develop a Strategy for Yourself and Maintain It
Blackjack isn’t a difficult game and that part of the challenge. Its simplicity makes it complicated. If anyone is new to this game or if you’ve had some experience, it’s definitely wise to study a blackjack strategy chart. This is an outline of the most technically correct moves one can do in any situation. In business there are some it’s also wise to be aware of basic strategies for making business decisions. Even those individuals more practiced at striking a deal or working a boardroom may do well to review strategy from time to time.
• Choose a strategy before you play
• Set limits and limit risks
• Maintain composure and know when to double down
By choosing your strategy prior to visiting the blackjack table, you will become better able to have a plan and remain clear-headed enough to carry it through. Oftentimes, when we are less nervous, we are more prone to making sound business decisions without our emotions interfering. Business and blackjack have numerous strategies but they are all need to be fastened to the least amount of stress possible.
Set Limits on What You’ll Lose and What You’ll Risk
It isn’t uncommon to see a player in the middle of a bad streak. Unwise decisions often beget more unwise decisions. Unfortunately at some point, pride and unfounded hope will allow one’s emotions to take over and make decisions. The fewer chips a player has, the greater tendency there is to rely on luck. This also exists in the world of business. Smart strategies always involve knowing when to act and not act. A lack of discipline to leave the blackjack table or business table can cost.
Try to determine to what degree your investment will be and leave when you’ve reached that point. This not only applies to limits in blackjack and business. If a person bets everything on a single hand or single business decision, the risk increases and as well as possibility of failure. Better to introduce these ideas by testing them first. The more aware you are of the possible outcome of a move in blackjack or in business, the more you can keep understand a decision and keep its risks minimal.
Be Wary of The Advice of Others and Yourself
No matter what field you work in nowadays, the lack of advice never seems short on abundance. Blackjack and business are no different. It’s easy for a player to abandon their strategy for advice at the slightest ripple on the water. In business, it’s also common for leaders to adhere to decisions of others that may sound good, yet aren’t completely educated and thought through. Regardless, it’s best to carry out your strategy your way. If such advice tends to be in harmony with your strategy then consider it.
Just as you need to be on guard against the advice of others, so should you sometimes heed your own. Success and streaks can bring about arrogance in players. It’s very easy to derail from your strategy when feeling overconfident. After all, you made it this far right? True, but always remember that well-earned success came from devotion to a strategy, and not necessarily fortune. Don’t allow arrogance to cloud your judgement in blackjack or business.
Always Maintain Your Composure and Be Mindful of Doubling Down
It is often said that “appearances are everything.” Well to an extent this is true. Whenever something looks positive, people tend to take more stock in it almost as though they search for the good. The same can be said of things that appear negative. Things that look suspect, bring out the suspicion in people. They, in turn, search for the bad. Unfortunately these truths lie in black and business. If a player is down, that is when they need to “appear” the most high. Negative behavior reflects directly on your character. In business, an attractive demeanor attracts opportunity as well as forgiveness.
With good strategy, anybody can achieve success at the blackjack table or in the business room. If things are not going the way that is planned, a sound strategy along with a charismatic way can more easily salvage the remainder of your money, research and dignity. There will be times when life flow in a continuous positive way. If the risk is high while the loss non-catastrophic, consider doubling down. When it’s in your favor, then act. A calculated loss, will only educate you. Such a lesson could be priceless.