Poker Tips for Your eCommerce Business
Winning a poker game bears a number of similarities to succeeding in eCommerce. It’s important to strategize just as it’s important to keep your cool. In fact, you can improve your business strategies by bearing in mind the following tips that will help you win at poker as well.
It’s Not What You Hold, it’s What They Think You Hold
One of the first rules of poker is that it isn’t just what you have in your hand. It’s more about what you make the other players think you have. You could have nothing more than a pair of twos, but if you can bluff well enough, you may be able to win the pot. While you shouldn’t lie in your business or in marketing, you can bluff by appearing to be more confident than you feel in situations such as giving a sales presentation.
It’s a fine line to walk as a good business owner will tell you. You need to make sure that you don’t deceive or lie to your customers or to investors, but you do need to give the appearance of confidence. This inspires confidence in your buyers and in your investors. You don’t have to tell them that cash is strapped and that you aren’t sure how you’re going to make the ends meet next month. Just smile as if you’ve got it all under control, focus on your customers’ needs, and show them that you have sites for sale or whatever it is that you’re selling. You will be amazed at the way that this improves your success.
Watch Their Expressions Just as Much
In the online business world, you might not have as many opportunities to see your customers and competitors face to face. However, you can watch their expressions in a manner by studying their social media posts, their video sales pages, and the like. If you do have the chance to view them in person, watch for the same telltale signs. Now, if they have figured out how to look more confident than they feel, you may not get as accurate a picture. But as you get to know your competition, you’ll start to associate certain phrases and tells with particular business strategies and similar indications.
It’s Okay to Fold
Sometimes you may feel that you have to take a huge risk or you have to fold. In those cases, you have to decide what is best for your business. If you are really on the rocks and can’t afford to lose that much, then remember that there’s nothing wrong with folding. You don’t have to jump on every opportunity that comes your way. Businesses that last in the long term have to be cultivated and cared for. This sometimes means that you have to pass on the latest and greatest eCommerce technology that requires you to mortgage your business. You can use discretion, and there’s no shame in taking a pass on something like that.
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