Playing to Win: Lessons from Poker for Business Leaders

New executive courses on poker-inspired business skills which taps into a unique space where strategy, resilience, and psychology converge are being advertised by most of the leading Business Schools. Poker teaches us that success o

Stay Steady - Stay Focused

ten depends less on the hand we’re dealt and more on how we play it. These lessons resonate deeply with the path of a leader — a role that requires strategic risk-taking, steady composure, adaptability, and a willingness to learn from every experience. Here’s a closer look at four ways poker skills translate into the business world:

1. Playing the Area You’re Dealt: Accepting “We Are Where We Are”

In poker, you don’t control the hand you’re dealt, but you do control how you play it. This idea resonates in leadership, where effective decision-making often begins with accepting the present reality — the people, resources, and constraints in front of you. Embracing “we are where we are” means recognizing that while the circumstances may not be ideal, they are what you have to work with. In a leadership context, this acceptance isn’t about passivity; it’s about taking an honest, grounded look at the current landscape and using it as the starting point for strategic action.

When leaders adopt this mindset, they cultivate resilience and realism within their teams, encouraging a focus on solutions rather than dwelling on limitations. Studies from the University of Cambridge on psychological resilience show that leaders who accept present realities without resistance are better equipped to make timely, practical decisions. This approach enables them to avoid the trap of wishful thinking and instead lean into proactive planning.

Much like an experienced poker player knows how to read the table and adapt their strategy based on available resources, successful leaders know how to work with what they have. Rather than waiting for perfect conditions, they play the area they’re dealt, crafting strategies that maximize the current potential and prepare for future shifts. This pragmatic, resourceful approach builds trust and aligns teams toward tangible goals, one step at a time.

2. Assessing Risk, Managing Risks, and Tail-Side Risk

In poker, assessing risk is fundamental. Every move — whether to raise, call, or fold — requires players to evaluate the odds and gauge the potential rewards against possible losses. Leaders face a similar need to assess and manage risk, both surface and tail-side.

Tail-side risk represents the unlikely but high-impact outcomes that, if they occur, can transform the game. Leaders who understand this concept know that while it’s crucial to take calculated risks, it’s equally important to prepare for low-probability events with outsized consequences. This approach, as emphasized in MIT research on risk management, encourages leaders to think beyond surface-level risks and consider how rare events might impact long-term strategy.

In poker, seasoned players make these decisions by observing patterns, reading subtle cues, and evaluating each situation uniquely. In business, leaders similarly need a “wide-angle lens” approach to recognize both the obvious and hidden risks. By understanding the bigger picture, leaders can balance boldness with caution, ensuring that risks taken are informed and mindful of broader implications.

3. Managing Emotions and Making Strategic Decisions in Times of Uncertainty

In poker, as in leadership, managing emotions is crucial to success. During high-stakes moments, players face intense uncertainty. They may be close to winning but still must wait for that last “river” card — the final card that decides the outcome. Maria Konnikova explores this idea in The Biggest Bluff, describing how poker players learn to manage their anticipation, stay calm, and keep their focus even as uncertainty peaks.

In business, “going to the river” mirrors the experience of leading through uncertain or turbulent times. Leaders must make strategic decisions with incomplete information, manage their emotions, and avoid getting caught up in the tension of the moment. Research from Stanford’s Center for Leadership shows that leaders who can control their reactions under stress make clearer, more strategic decisions. They understand that outcomes aren’t guaranteed but are the result of a series of well-thought-out choices.

Just as a poker player trains themselves to remain composed and avoid “tilting” (making impulsive decisions based on frustration or excitement), leaders benefit from this same steadiness. By focusing on the strategy rather than the outcome, they inspire confidence, remain adaptable, and set an example of calm resilience for their teams. The ability to manage emotions under pressure enables leaders to steer effectively, even in the face of unpredictable “river” moments where the stakes feel highest.

4. Learning from Every Setback

Every poker player, no matter how skilled, experiences losses. The difference lies in their response: experienced players view setbacks as learning experiences, analyzing each loss to improve their future game. This resilience in the face of defeat is equally important in leadership. Leaders who can turn failure into feedback foster a growth mindset, using each setback as an opportunity to refine their strategies and develop resilience.

In The Biggest Bluff, Konnikova emphasizes that learning from loss requires a mindset shift — from seeing failure as a final outcome to understanding it as valuable information. This insight translates into leadership, where the most effective leaders see setbacks not as dead ends but as guides toward future success. They’re willing to explore new angles, even when the first attempt falls short, and understand that progress often comes through iteration and resilience.

Building a Leadership Legacy

Poker-inspired skills — calculated risk-taking, composure, adaptability, and learning from setbacks — provide a robust foundation for leadership. These traits ground leaders in a blend of strategy and humility, equipping them to navigate complexities with a clear vision. The values underlying these lessons resonate beyond the boardroom, reflecting not only a practical skillset but a mindset that prioritizes learning, resilience, and growth.

In the end, leadership isn’t about having all the answers or controlling every outcome. It’s about playing each hand with intention, resilience, and adaptability, building a legacy one decision at a time.