Step 3. The Texas Hold’em / Investing Business Plan

WHY YOU NEED A PLAN

The majority of people who start playing Texas Hold’em simply get some money together, learn the basics of the game rules, and then start playing in real money games.

The usual outcome of this approach is generally the loss of the initial stake, followed by getting another stake together, followed by another loss, and so on.  In most cases the amounts involved are never huge but still – when does anyone ever lightly give away their money so easily? However, one of the other outcomes – and this is crucial – is that the person is no wiser about how to play Texas Hold’em poker well.

Unfortunately, this type of haphazard approach is similar to the one adopted by many people who manage their own investments.  Many studies have shown that people spend more time deliberating on their next clothing purchase than on a typical investment decision.  This is despite the fact that the amount of money involved in the investment decision is often considerably larger than that in the clothing purchase!

This section shows you how to develop a comprehensive business plan for both your personal investment strategy and your Texas Hold’em poker development.

There should be two main types of section in your business plan.

1. Sections of the plan that are standard for any type of Texas Hold’em poker player or investor. These address the fundamental aspects of your strategy regardless of the type of game or market that you select to operate in.  These fundamental factors will be broadly similar for all players and investors.

2. Sections of the plan that relate to the particular Texas Hold’em poker game type or investment market that you select to participate in and will vary according to the game and market features.