Fundamental Plan Elements
The fundamental elements that your business plan should address are:
- Education Strategy – This is one of the most important and an often neglected part of a business plan, particularly for investors. Educating yourself properly about how to play Texas Hold’em poker and how to invest is absolutely essential. The solution is not to simply buy a few well known books, start reading them, and start putting your money at risk straight away. You need to develop a plan for acquiring the best learning material, embedding it into your memory over time, and then slowly beginning to implement it with real money. Also, probability theory and its applications is one area that should be a fundamental part of your learning plan – again an area that is often either neglected completely or learnt haphazardly. However, you have significantly helped your education plan by reading this book online – now you need to follow through and put it into practice!
- Bankroll / Investment Capital Strategy – This will specify what your starting bankroll capital is and how you plan to increase it. In investing your bankroll plan will need to link in with any savings plan that you have in place which will help to increase your bankroll at a pace that fits with your investing progress.
- Performance Measurement and Analysis Strategy – A vital part of your plan which is generally overlooked in the rush to start playing poker or investing. This will need to address what measurements you should use for monitoring performance and what tools you will need to record these measurements.
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