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May 7, 2002

Jack Covert Selects: Jack Covert Selects - Poker MBA

By: 800-CEO-READ @ 9:11 PM – Filed under: Management & Workplace Culture

The Poker MBA: Winning in Business No Matter What Cards Youre Dealt by Greg Dinkin and Jeffrey Gitomer, Crown Business, 240 Pages, $23.95 Hardcover, April 2002, ISBN 0609609866
I have followed Jeffrey Gitomers career for many years and even had the privilege of spending a morning with him when he last came through Milwaukee. I learned a tremendous amount about sales (Jeffreys specialty) and my own company during that conversation. For this book, Jeffrey has teamed up with Greg Dinkin, a professional poker player (yup, you read that correctly). The result is a book packed with war stories, fun anecdotes about poker games, business negotiations and business practices. In the introduction, the authors spend some time pointing out the similarities between poker and business. To illustrate (italics are mine):
How good are your opponents?
Every business needs to understand its competition.
Do you have a big enough stake?
Every business needs adequate financial resources.
How much is the vig?
Every business has to cover its overhead before it can make a profit.
How much money is in the pot before the draw, and how much money is
expected to be in the pot after all the betting?
Every business needs to know how big the market is and how much of the market
that business can hope to conquer.
What are the odds of catching the cards that will make you a winner?
Every business needs to know how to calculate risk.
See, not as off-the-business-base as you may have thought. If you enjoy business books with a catchy theme to pique your interest and assist your comprehension, and you like strategy and games that emulate risk-taking business maneuvers, this is the book for you. The design of the book is fun with a table of icons, such as Jokers, Winning Hands and Chapter Aces, that are then found throughout the book and provide extra value. Dinkin and Gitomar, just like Kenny Rogers before them, will teach you to know when to hold em and know when to fold em.