Poker is a card game where players make their best hand based on the rank of their cards to win the pot at the end of each betting round. It is a high-stress game that requires patience and self-control, as well as a keen ability to read and assess other players. Business owners often use poker as a training exercise to develop these skills because it forces them to combine critical information they may not have and make decisions despite uncertainty.

While it’s important to have a solid strategy, it’s equally important to know when to fold. It can be tempting to keep throwing money at a weak hand, but this can lead to an empty wallet and leave you vulnerable to bluffs from stronger hands. Observe experienced players to learn from their mistakes and to improve your own play style.

A good poker player isn’t afraid to admit when they’re wrong. For example, if they lose a big hand to a bluff, they don’t try to justify their decision by working backwards from the outcome. Instead, they reflect on the process they went through to make the decision and how it could be improved in the future. This is a healthy approach to learning and it can be applied to all aspects of life. It also helps to prevent people from becoming “on tilt,” which can lead to reckless, costly decisions.