What comes after a successful poker career?
Because of the high variance and limited economy the game offers, many players seek to diversify into business. Some want to leave the daily grind behind and transition out of the game.
Nick Howard and Wayne Yap are solving this problem with Beyond Poker, a podcast and network with a goal to help players transfer their skills into new markets.
Sure, you can create a startup, but that’s not the only option—and it may not even be the best choice for you.
Looking to transition out of the game? Want to grow multiple streams of income beyond your table time? In this episode, Nick and Wayne talk investments, business, mergers and acquisitions, and more. Click play to get inspired.
Time Stamped Show Notes:
[00:00:33] Welcome to this episode with Nick Howard and Wayne Yap
- [00:01:29] Playing poker professionally to teaming up in business
- [00:03:38] The uncertain and changing poker market landscape
[00:06:04] What’s available for players looking to transition out of the game?
- [00:08:16] Have you ever thought about buying a business?
- [00:13:11] You already have skills from the table that apply in business
- [00:15:05] Puzzle-solving and calibration mindset are key
[00:19:46] Tips for building a strong network to support your transition
- [00:23:57] Creating strong communicative bonds in business
- [00:28:50] The dangers of ignoring red flags
[00:32:07] Where can you find out more about Beyond Poker?
[00:34:45] Wrap-up—thanks for checking out this episode!
3 Key Points
- Transfer your table skills to other markets! You solve puzzles, hand after hand. You calibrate your actions against the information your opponents leak. You can apply everything you’ve learned in poker to a new venture…
- Did you know there are many ways to build a business? Starting one isn’t the only option. In fact, you can purchase one cash outright, already running and ready to go. You can get a loan for money down. Or you might even pay a portion up front and the rest over time. Depending on your strengths and resources, there are many paths to success!
- When establishing a potential relationship in business, be aware of red flags as they arise. Ignoring them leads to time wasting down the road and can sabotage your outcome. Build bonds of transparent communication and transactional trust for best results.
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