Consider Maria Konnikova, who said that reframing setbacks is one of the most important lessons she learned in her two-year journey to becoming a professional poker player. In a recent phone conversation, Konnikova, author of the new book The Biggest Bluff, told me that, prior to learning poker, she had never played a hand of cards in her life.

Konnikova has a secret weapon, however–a PhD in psychology.

Success at poker requires skill and luck. Every once in a while you’ll hit an unlucky run of cards, no matter how much time you’ve put in to master the skills. The same is true in a pandemic when the skills you have don’t seem to be helping your business or career.

During an unexpected crisis, the story you tell yourself and the words you use to talk to yourself are more critical than ever.

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Build a Victory Mindset

In poker, a “bad beat” means you’re holding a hand that, statistically, should win a majority of the time. But the player loses anyway.

A poor player has a negative mindset. They tell themselves that they don’t have any control over their destiny and that they’ll keep losing in the future, no matter how hard they work.

A successful player, on the other hand, focuses on the process and not the outcome. Their thinking goes like this: The cards went against me this time but I made good decisions. It’s not a reflection of my skills. If I keep making these good decisions, I’ll win more often than I lose.

And I think poker acts as a metaphor for what small-business owners and entrepreneurs are experiencing today.

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