This week I was lucky enough to attend an internet marketing conference and was able to sit in on the keynote speech given by Phil Gordon. Phil may not seem like the most natural fit for an internet marketing conference, but Phil has definitely been-there-done-that when it comes to building successful businesses in the technology field. Back in the day Phil built up a company that was eventually sold to Cisco. One of the leading network hardware manufacturers in the world.

The bulk of Phil’s 45 minute speech centered around poker. He then intertwined aspects of how being a successful poker player relate to being successful in business. He spoke of 6 key traits a person has to have to be successful in poker.

Those traits are:

Aggression
Being aggressive at the poker table and attacking pots allows you to win the hand without ever having to show your cards. By checking and calling you are forced to show down hands and hope you have the best of it.

Patience
It sounds contradictory to being aggressive, but being patient is certainly key. You should be folding most hands you are dealt, especially when playing out of position. Waiting for the proper opportunities will win you far more in the long run than trying to attack every pot.

Courage
When sitting at the table and somebody makes a big bet, sure, it’s easy to call when you have the nuts. Having the courage to make that call (or raise) when you only have a decent hand, but are pretty sure you have the best hand, this is what it takes to make it as a poker player.

Resilience
Having a “Never Give Up” attitude is very important. When you take a bad beat and lose most of your chips, this is no time to throw away the rest of your chips in defeat. Dig deep and do whatever it takes to get yourself back in to the game. You only need to double up a few times to build up a formidable chip stack.

Observation
Watching what other players are doing while you are in a hand is important, but it’s just as important to watch what’s going on once you fold. Watch the players in the hand when the flop is dealt. Did he look at his chips? Did he swallow real hard? Did he sit up in his seat? What happened next? Keeping a mental note of how players act under certain circumstances will help you know exactly what to do when you are in a pot against them.

Desire to Improve
The previous 5 traits can all be taught. However, if you don’t have a desire to improve, you might want to take up a different game. The rules of poker are very simple. You can learn them in a matter of minutes. The nuances involved are endless. Ask any pro player if they are as good as they can be at poker and I promise that every single one of them will tell you that they are constantly trying to improve their game. That’s what winners do.

As I left the conference I asked myself if I felt that I had all 6 of these traits. I believe that I have all of these traits inside me, they just don’t always show up at the same time. One day I may have 4 with me. Another day, only 2. But I promise you this, I always have the desire to improve!

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