The 'Gambler' Knows the Secret for Survival [Kenny Roger's song]

Kenny Roger’s song The Gambler has a business idea for any entrepreneur in the world.

The song says that every gambler knows the secret for surviving. What if the song says every business know the secret for survival? What would be the secret for survival? Good customer service, excellent products, or sound financials?

The gambler song is an entire business toolkit, with tips ranging from business plan and market intelligence to customer service and business strategy.


You got to know when to hold `em, know when to fold `em,
Know when to walk away and know when to run.
You never count your money when you`re sittin` at the table.
There`ll be time enough for countin` when the dealin`s done.

 
The gambler knows the competitors cards by the way they held their faces. By watching your competitors action you can understand their strategy. If the competitors are purchasing a new plant it means that they want more market share. If they get a new loan they could even be targeting your customer with a new product, or they want to diversify.
In order to play the game, you need to learn how to play it right. This means you need to understand your market, your industry and your products.
You need to know when to walk away, when to run. This means that you need to understand your business and your market to know when to change tactics, when to change products and when to attack to your competitors.
Knowing what to throw away, knowing what to keep. In market segmentation you need to know which segments will give the best returns. You have to know which customer to keep and which to ignore. Better have fewer happy customers than have a numerous customers who are not happy.
You never expose yourself by counting money during the deal. This is because it will expose your financial situation. You need to be cautious on anything regarding your financial position.


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