Hit? Stay? Double-Down?
Usually not what you would expect to be the take away from this year’s Mother’s Day trip to Las Vegas. This year however came with some interesting perspectives that metaphorically reflect our approach to life’s challenges.
Never before had I taken time to ponder the way people make decisions in a high stress game called Blackjack that involves losing all your money, or at all least mine. Through all the distracting noise and lights I spent time to understand and identify three types of players to which we can all relate. These person types are embedded in today’s workplaces spanning most, if not all, industries.
First, we have the newbie. These good luck charms always seem to win. Beginners luck? Possibly, but without any strategy or knowledge? How can someone go into a mental frenzy wondering what to do every time there is a 16 and the dealer showing a 10. The book says to hit or stay but at least be consistent. Beginners have a level of inexperience and they don’t understand the risks and usually hit. Good move, now don’t ask me for help again. Just kidding. Shouldn’t they know from the last twelve times I tried to guide them? Trusting one’s gut instinct is proven scientifically to yield positive outcomes in other areas of life at least. But without having a long-term strategy and understanding what you’re up against, the inevitable occurs. BUST.
How about this second guy? You know, the one who blames everyone for taking his card? Or not playing correctly (to his terms). Any seasoned player should minimally apply some basic analytic to understand the game well enough to avoid donating to a casino. For example, mathematically it doesn’t matter how someone else plays their cards as it doesn’t affect your outcome in the long run. In lieu of the ability to influence other players—given their free will to do as they choose—playing one’s own hand can create a hostile environment. How can anything thrive with a negative outlook while blaming it on others? We need to take responsibility to change what isn’t working. Invest in yourself to overcome challenges even if it is knowing when to call it quits. In business these people are not born leaders and frequently hold their companies back without a guided path to execution. When properly led they can build confidence and change their outlooks, yielding better results.
Now for me, player with a purpose. Sounds interesting, but what does it mean, and aren’t we just supposed to be having fun? Answer, “No.” You should run your life like a business, ready to take thought-out strategic steps to grow and limit turbulent conditions. For example, I vary my bet no more than five times my original. I like to take an approach that brings long term success. The says over time I should be OK, or not. Go in with strategy in all that you do. Have a purpose and you will succeed in all that you do.
Finally, risk management. Do not ever try to buy your way out of a bad deal or hand. Companies can suffer when time is of the essence. Excellence flourishes when we pursue it. This is not how you would run a business, but, hey, it’s okay to have fun sometimes. Defining yourself can lead to greater development, also if negative, can hold you back. Let our experts help coach you or your team to where you want to be and not who you become under pressure.
Until next time…