There is more than just science to the art of negotiation! And believe it or not, playing poker makes you a better negotiator! What’s the one thing common between poker pros, entrepreneurs and c-suites? Or just about anybody who would want to have a fulfilling life?! It’s the constant need to negotiate for better things, be it in aspects of business or anything else, like deal terms, salary packages, payment schedules and more.
Re-raise and negotiate well:
When you play poker online or play cash game re-raising is a crucial tactic, wherein one player raises a bet which is already out there and then another player would raise the other one’s raise. It can be pretty scary to do that in business as it is in poker as well. Yes, it may seem safe and even tempting to accept the first offer, especially if the deal on the table is as good as you thought it would be. But if you are fine with accepting that offer, then do not be afraid to attempt a re-raise!
After all, what’s the worst that could happen? They’d probably reject it and say no, and even then you are no worse or better off than if you had not tried your luck. But if you can re-raise successfully, then you will be able to grab a deal of better payments, better terms or even additional requests that would have never happened if you hadn’t asked in the first place!
Position in poker matters:
The best position to be in when you play poker card game arguably is to be on the button. This is the position where you get to act last after everyone else has played their move and made their decision.
Why is being on the button the sweet spot in poker? Well, you get to make your decision of whether to raise (the bet), call (match the existing bet) or fold your hand with as much information you could get, because you have already seen what everyone else is doing.
In business, this approach to negotiation also works the same way. Wait patiently for the other parties to throw in their initial offers. Now that you know where they stand you can make your counter-offer while making sure you do not sell yourself too short.
Bluff and Bluff More:
The old saying in business “faking it till making it”, may very well have worked for some. But bluffing in business can also lead to serious consequences. Think twice, before you bluff your way from a reasonably good deal, stating that you don’t really need it. If the other party “calls your bluff” you risk looking irrational and dishonorable and stand to lose the deal. You will be forced to reconsider or worse, be rejected altogether! If you want to play poker online in India, you can try at Poker Dangal! Poker Dangal offers you exciting poker tourneys and make it a better choice when it comes to your bankroll management.
Also Read – Reasons to Get Attracted to a Poker Player