Gaming is often dismissed as a frivolous and unproductive waste of time, with a popular image of “time killers” indulging in various games. However, in today’s world, gaming has evolved beyond this perception, and entrepreneurs should take notice. Video games and the gaming industry itself have become “edutainment” tools that can help sharpen business management skills without any real-world consequences of workplace stress.

In fact, there are important business lessons to be learned from these games, helping develop both hard and soft business management skills. Playing games that simulate real-life business experiences can provide valuable insights without any real risk or repercussions. This blog post features the top 3 games that every entrepreneur should consider adding to their playing list for skill development.

Poker

It’s no surprise that poker and entrepreneurship have been long-time companions in my life. A poker player needs to memorize the rules and guidelines that govern play, make calculated decisions based on little information, and manage their emotions – all skills that are essential for a business owner.

More so, online poker for real money has even more similarities with the business model, as one risks capital for the potential of real rewards. Here are some major insights on how playing poker as a hobby can help you become a better business owner in the long run.

It Makes People Easier to Read

The ability to read people is a crucial talent for business success for entrepreneurs. Poker comes into play in this situation. Contrary to popular belief, skilled poker players analyze their opponents holistically, taking into account their behavior, propensity for taking risks, and overall attitude at the table.

This same skill set is useful in the business world, where being able to assess the reliability of potential employees or clients can be critical to success. By honing your ability to recognize patterns and trends, you can succeed in:

  • making informed decisions that help mitigate risk;
  • monitoring markets;
  • allowing you to anticipate market trends;
  • adjusting your business strategy accordingly.

It Helps to Prioritize the Process over the Outcome

Another important lesson that you as an entrepreneur can learn from playing poker is the ability to shift focus from results to process. In poker, even the best punters can sometimes lose despite playing the perfect hand. However, instead of getting bogged down in the disappointment of the loss, successful players focus on the processes and strategies that they used during the game.

This mindset is just as applicable in the business world, where hitting goals isn’t always a guaranteed outcome. By focusing on the processes and decisions that led to positive results, entrepreneurs can identify the formula that works and apply it to future endeavors. This helps to avoid getting discouraged by setbacks and instead focus on the progress made along the way.

Crypto Games

Blockchain technology has revolutionized many industries, and the gaming industry is no exception. Even well-known businesspeople like Mark Zuckerberg and Elon Musk have admitted to playing blockchain games.

One of the key benefits of NFT gaming is the capacity to possess virtual assets acquired via gameplay, move them to other games, or even swap them for cryptocurrencies with other players. The popularity of “play-to-earn” games has increased as a result, enabling players to generate income while enjoying video games. The well-known ones consist of:

  • Splinterlands
  • CryptoKitties
  • The Sandbox
  • Chronicles of Nine
  • Apes Meta

Crypto games come in a wide variety, but they all have one thing in common: they help entrepreneurs develop critical hard and soft skills. Entrepreneurs must, however, approach the creation of NFT games with a strategic outlook. It’s crucial to carefully consider which games match their objectives and requirements for skill development when faced with hundreds of different options.

How to Start

In order to fully benefit from this notion, it is essential to understand the key ideas and important concepts of blockchain, cryptocurrencies, and NFT terminology. Hence, do thorough research and try to maximize your resources.

Monopoly

Many well-known people have discussed playing and enjoying the game, including Warren Buffett and Richard Branson. It is no accident that the abilities required to win at Monopoly, such as strategic thinking, negotiation, and risk management, are crucial in the business world.

Ways to Learn from Monopoly

One of the important teachings of Monopoly is the significance of delayed gratification as players must invest in properties that generate long-term income instead of spending all their money at once. The game also emphasizes the value of negotiation and communication skills as players must trade and make deals with other players.

While games like Monopoly, P2E, and poker can assist in developing business skills, it’s important to complement them with real-world experience and intangible processes to achieve success. It’s worthwhile to reflect on how your hobbies and experiences can be applied to your business endeavors.