For the adept poker player, no two hands are ever played the same way. A talented player may be dealt pocket aces early in the evening and a few hours later may play the same hand in a radically different manner. One time the player may get the hand early in the betting stage while another time they may be last to act. Early in the evening the other betters might be conservative with their chips, while later the same poker player may find himself with aggressive players who love to re-raise and make large pots. For tournament players, the amount of chips a player has can dictate the appropriate action. There are so many variables in play for a poker player that no book or Internet article can truly teach someone to become an expert. This expertise is developed by sitting at the table and developing a true feel for the game.
The fact that you cannot develop true expertise from a book does not stop the printing of hundreds of books on the subject of poker. It also does not mean that these books lack true value to the reader. In fact, when a novice poker player reads a properly written book on how to play poker, they can go from a bad to an average poker player very quickly. When the player properly applies what they have learned they can go from losing money to breaking even, perhaps even becoming a slightly profitable player. So while the reader may not become an expert overnight, they have expedited the process of becoming a winning player by taking the time to read what experts have written on the subject. They have learned the mechanics, some basic strategy, what hands to play and what hands to avoid, and even a few tips on how to read other players. This provides a foundation which the player can build on as they sit at the table and gain invaluable real-life experience.
Poker is not dissimilar from many entrepreneurial activities. If a person does not acquire any outside knowledge, and simply attempts to teach themselves how to play, then some rough waters await. There will be many proverbial losing nights and many hard lessons learned along the way. Eventually, if frustration does not cause them to quit, they might become profitable in their venture, but they took an unnecessarily long road to get there. The acquisition of the proper knowledge could enhance the chances of them staying in the game long enough to develop the expertise necessary to succeed.
Developing That Feel
Those that become experts in their chosen profession develop a true feel for what they are doing. Drawing from the poker analogy again, it is akin to a professional poker player’s sense of what cards their opponents have at all times. Through an opponent’s betting patterns, behavior, and demeanor, an expert poker player gets a true sense of whether an opponent’s hand is strong or weak. This ability truly cannot be taught and is only developed through careful observation and experience. The expert develops a feel for the game in general, and more specifically, for the particular game they are playing. When this occurs, the player can go from a slightly profitable player to a tremendously profitable player.
It is the same for those who choose to enter into real estate, the financial markets, or other entrepreneurial activities. Proper training can provide you the foundation you need in order to become successful. It can provide the knowledge necessary to kick-start you down a road of success that allows you to achieve all of your dreams. However, there are many nuances that await you in your particular market or the market conditions you find yourself in. To reach that next level of expertise, you need to develop a true feel for your profession, and more specifically, you need to develop a sense of how to succeed in your specific location under the circumstances you find yourself in.
Examples from Real Estate and the Financial Markets
While there are larger macro trends that can help you develop a sense of where real estate prices may be heading, those that understand their local markets have a tremendous advantage in the real estate game. When one knows where properties are selling and what prices they are selling for, how long properties stay on the market, the local job market, rates of population growth and decline, crime rates, and other factors in regards to their local market, they have gathered a tremendous amount of information. With this information, and the proper training, an individual can start to get a true sense or feel for how to succeed in their local market.
When an individual starts to apply this to potential deals, they will further gain a sense of what strategies are more likely to succeed in their market and how to successfully negotiate those deals. Negotiating in itself is an art form where a person can get a sense of when to ask for more for their property and when to ask for less in purchasing. In dealing with people, you need to develop a feel for understanding their needs and presenting deals that can work for both parties. None of this will develop overnight, but if you take the time to understand your local market and start applying your training, then you will start to develop this magical feel.
Those who want to succeed in the financial markets will benefit a tremendous amount from technical training on how to successfully trade. This training will require prospective traders to look at numerous charts for potential trade setups. In the beginning, traders often have to methodically go through a checklist to ensure that each potential trade setup meets the criteria for a high-probable trade. This can be a time-consuming process that limits the amount of charts a trader can look at in a given day. In time, an expert trader gets a feel for trading and the stocks they are following and develops a true sense of whether a trade setup is excellent or not. When a trader hits this point, they can simply look at a chart and in a few seconds make an accurate determination of whether a trade should be placed or not.
Developing this sense in your local real estate market, in negotiation, or in understanding stock charts does not come overnight. Similar to the poker player who has to put in thousands of hands of cards to develop a true feel for their craft, you must put work into your chosen profession in order to start gaining a true feel for what you are doing. Once you develop this feel, then the results you will obtain will truly be impressive.