9 Lessons From the “Poker Princess” – Dave Woodward – FHR #230

9 Lessons From the “Poker Princess” – Dave Woodward – FHR #230

Molly Bloom is known as the “Poker Princess” Dave Woodward had the opportunity of being with her in Phoenix at Genius X. Dave details the 9 secrets he learned from Molly as she discussed her rise and fall and rise again. Molly recently had a movie produced by Aaron Sorkin portraying her story based on her book, Molly’s Game.

Tips and Tricks for You and Your Business:

-The importance of “the experience” (2:20)

-Taking risks (4:30)

-Knowing your numbers (6:18)

-Your blind spots (10:17)

Quotable Moments:

“In life, there is nothing more important than the relationships you have with others, and you have to spend the time to develop those relationships.”

Other Tidbits:

Find the time to be creative. Make time for “quiet time” when you can disconnect and really let your brain get creative and you will be surprised at how much problem solving you can get done.

Links:
FunnelHackerRadio.com –
FunnelHackerRadio.com/freetrial –
FunnelHackerRadio.com/dreamcar –

welcome to funnel hacker radio podcast where we go behind the scenes and uncover the tactics and strategies top entrepreneurs are using to make more sales dominate their markets and how you can get those same results here is your host Dave Woodward there Ben welcome back last week was so much fun I had the opportunity of being with Russell down in Phoenix at Joe polishing teen graziotti 100k group and while we were there they brought in a special guest at Molly bloom you’re familiar with the movie that came out the first year mollies game was basically she talked about her story in her life and she’s known as the poker princess because of all the crazy things she was actually able to pull off so if you’re not very familiar with her story you watch the video watch the trailer I’ll try to post the trailer down below and but this is a woman basically who started off as an Olympic hopeful skiing from little or from just outside of Denver and in Colorado and ended up eventually trying to go into law school and everything else things that work out exactly how she wanted and so what happened was she did getting a job down in LA and her boss now on the side had kind of things going on where he had his own little poker thing going well this became an enormous opportunity for where she ended up literally becoming known as the poker princess and again I won’t take away all of her her thunder go ahead and take a look at the trailer down below but understand what happened was she got the point where she was literally was dealing with Hollywood’s elite as well as the you know top athletes across the country as well as a whole bunch of of other gamblers and things and it was fascinating just kind of talking to her about her story so it was basically $200,000 to to come to the poker parties is kind of let it started at and then what in the pathing was because of all the things that she was doing all of a sudden she ended up getting her house raided by the FBI and ended up stand in front of a judge facing twenty years in prison so I want to kind of tell you some of the things that she talked about what the insights I gathered from her life experiences and in probably the next month or so she’s actually be on the podcast and then I’ll let her tell her her whole story so one of the things that she mentioned was how important is that people actually value experiences and this is the thing I can tell you I’ve seen in so many different things from a marketing side where what she said was what mattered most was the experience it wasn’t the actual game itself it was the lavish hotels it was the way that people were treated it was the way her presentation was was given and the secrecy behind it and it was this whole crazy experience and this massive adrenaline rush that she created around these poker tournaments that made people just value her as the host and she said she basically never did anything wrong until she started taking a percentage of the pot and that’s where things went wrong for her but the thing she said was what she learned out of all that was how important the experiences were and said when you start looking at your own mark and you got to look at the types of things what are the experiences that you’re giving to your clients it’s that culture that we talk so much about that you heard referred to as far as culture because we really trying to make sure that it’s an experience we take a look at funnel hacking live we tried to make it a massive massive experience for people when they attend that’s not a normal type of event almost verges on that would be in a rock rock concert type of deal as you take a look at your own marketing and the way in which you we speak with and you communicate with your anybody who’s following you what is the type of experience that they’re getting with you and try to make try to find some way of increased in that experience take for example one of the things we added to our last offering of our Tacoma Club X coaching program was to go on a cruise with Russell and and the other coaches and so that enhances and adds to the actual product itself Yonex silver used to have his maverick trips which were these just crazy crazy experiences whether it was down in the Baja racing down there or doing zero-g flights or these halo type of events skydiving and so understand that as you take a look at the people that you’re working with one of the type of an experiences that they want people go to live events for an experience people attend webinars for an experience people go to movies for an experience so look at your marketing find out what is the type of experience that you’re giving them second thing she said was you need to get comfortable taking risks again she started off as a limpet hopeful and ended up having to she had a real bad scoliosis in her neck and had to have her vertebrae fused and because of that she wasn’t able to to compete but she said she got very very good at an early age of understanding the importance of taking risks as an entrepreneur that’s one of the main things you you have to understand you have to get very very good at feeling comfortable taking those risks and that comfort comes Lily by just taking more and more risks and understanding how far you really can go frequently we’ve got our mind set that’s telling us all you can’t do that you can’t do this realize that there’s so much more that you really can do if you’re really willing to stretch yourself so get uncomfortable taking risks number three she said was that she was absolutely shocked when she realized how much could happen in a very short period of time she said you know what literally anything can happen in your life if you really focus on it and try to make things happen she goes four years ago she was standing in front of a judge and facing prison term of over 20 years and four years later she was on the red carpet attending the Oscars in a 4-year period of time her whole life changed so realize no matter what your past is no matter how bad you may think things have been the future is whatever you want to make of it and you got to go all out you got to find a way of playing the game and of really realizing that life is there to be lived and get comfortable taking risks but more importantly make sure you’re going for it and that you know what you really want long-term number four she said is you have to know your numbers she said especially in her high risks poker type of game she really had to know her numbers she said she never wanted to have really really good poker players at the table because they would they would win all the time she said what she really hopes is that she understood her numbers and what she wanted was a very large amount of money circulating among the same players every single month or during her frequency so by the end of the year people look back and said you know what I kind of broke even or I didn’t lose that much or that you know what I love the experience behind it and it was just the cost of admission she said you gotta get very very good at knowing your numbers especially in business obviously from a marketing standpoint we always talk a ton about what’s your average cart value what’s your cost to acquire a customer those are some of the two most important metrics when because at that point if you can get your you can get your cost acquire customer to be less than or equal to your average cart value you literally can throw as much money into that as you want as long as you’ve got a big back end because the back end is gonna be fueled by free customers so realizes you’ve got to know your numbers number five was celebrity currents currency and this is one of things I type rustling I’ve talked so much about celebrity currency this goes back to the importance of you have to make you have to read make sure that you’re always relevant and like last year when we were going out to to launch Russell’s book expert secrets I was fascinated to see as we started going toward our dream 100 how many people had not moved towards face book everybody was still only had email lists where we were looking at really expanding and doing a facebook live book tour a lot of the people we worked with in the past hadn’t remained relevant or hadn’t grown into the next big thing same thing years ago facts my 10 year anniversary my very first internet marketing product was a product called legendary marketers where I flew around the country and it was kind of like an MTV Cribs type of thing where I I filmed at that time eight of the best internet marketers to see what their lifestyle was like to see what the business was like and fast forward ten years of rustling we’re joking he said you know maybe we ought to do a tenure special or you know kind of a where are they now type of episode Russell was one of the eight that I filmed it was kind of where my Genesis and my business relationship with Russell starting ten years ago doing that but the crazy thing is I take a look at that of the eight that I filmed there’s only two maybe three that have remained relevant everyone else is kind of gone by the wayside so understand you have to remain relevant the way you remain relevant is you continue to publish you continue to grow you continue to learn you continue to do everything you possibly can to provide more and more content and feedback to the marketplace so remaining relevant is the currency that you create and that typically comes through being out there and publishing on a regular basis number six kind of similar to this but ties into the value of relationships I talked about this so many times that my kids I’m sure sick and tired of hearing it but I’m a huge believer that in life there’s nothing more important than the relationship that you have with others and you have to spend the time to develop those relationships I’m not a person who’s got really deep relationships with all a whole bunch of people there’s really only a handful that have really deep deep relationships with but at the same time I value the relationships that I built over the last 20 plus years of being in business because it’s through those relationships that you establish your integrity thats through those relationships that you actually cross paths so many different times I’ve been fascinated just to see over the last ten years how many times I’ve ran into people either on them either on my way up or on my way down of my financial career or business career or whatever it might be and realizing the importance of you’ve always have to treat people the same no matter if they’re the CEO or if they’re the janitor it’s me it’s always the same and understand that with value those relationships is something you need to invest in number seven said were the blind spots and she said no matter who you are every single one of us has blind spots and those blind spots they for her it was greed and significance she could never get enough it was if so-and-so was making this she wanted to make this much more and the other thing was significance where she wanted significance was as you’ll see in life people who are highly significant driven they do a whole bunch of things that typically they probably wouldn’t do if they if significance wasn’t that important significance is something that every single one of us craves in life but you have to decide what is the cost of that significance and more importantly what the significance look like to you greed obviously it goes without saying as far as as what that is but every one of us have some sort of a greed element there’s certain things we want it’s how how do you control that and how do you I I think one of the main things actually in my own personal life is being able be excited for other people’s success by being able to be excited for other people’s success it’s that gratitude that you get in your life and the weirdest thing is stuff comes back to you jealousy and greed are two of the biggest cancers in any business and I was as I was talking with Molly about she says you know what that was one of her biggest things was she just always wanted more and it was just typically what someone else had so in her case there was a business partner who had things on the East Coast or on the west coast it’s just like well if I can’t do that I’ll take the East Coast and I’ll come back and I’ll gobble him up which she did number eight was to find joy in everyday life this is kind of just the opposite of of what she was saying far as the blind spots she said once she realized what her blind spots were she had the opportunity of really focusing and finding joy in everyday life and that actually is where her true significance came from it was a mind shift it was an emotional shift it was a significant shift where she really started to realize that she could live in the smaller moments that it didn’t have to be an adrenaline rush 24/7 she made mention as far as like with her grandma how she used to make her grandma was just this silly old lady who had no insights whatsoever and as everything was taken away from her she found herself spending time with her grandma and how much after a while she actually looked forward to those times of just going to sit with her grandma and just to talk and to realize how important that time was for not only for her grandma but how much how important it was for Molly as well so I really encourage you guys to find out what are the how do you find joy in your everyday life I know as entrepreneurs we’re typically hard pushing driving to the next thing soon as we achieve whatever we’re looking for we really never celebrated theirs on to the next my wife has been really good for me in this area of making sure that I I take a step back and enjoy the process enjoy the game of life and have fun and celebrate the wins celebrating the wins to me it’s been a ton of fun but more important for that is actually celebrating the process of the win enjoying enjoying the pain of the workout at times and join going through just the everyday life piece of it and I can’t thank my wife enough for the way when she’s taught me that the other thing she talked about and this was one of these I I see happen quite a bit is number nine here and that was the constant reaction and stimulus when we when you live in a situation or an environment where you have a ton of stimulus around you and things are always being thrown at you what it actually does is it typically decreases your creativity and your imagination and she said when she didn’t have as much going on in where she is starting her business she was super super creative but then all of a sudden when there was such a massive amount of stimulus and such insane amount of just reactivity for that’s where she got sloppy is where she made a lot of mistakes and she said if she was do it all over again on that aspect when the main thing she would do is to take time to take a step back and to really focus and to get your own quiet time because it’s during that quiet time that you get the imagination that the creativity to come that’s that’s really that quiet time is the most important thing for an entrepreneur which is hardest thing to find because you think I’ve got a million things I got to do but as you spend that time focusing on that quiet time whether it’s in the morning or at night or maybe during the day where you Lilly shut everything off you turn off the phones you turn off the computer shut down the Wi-Fi and you literally sit and think and try to focus on being creative and being imaginative that’s where problems really truly get solved that’s where you all get these huge breakthroughs the problem for most of us is we live in just a quick stimulus-response 24/7 and because of that you look back at the end of the year you’re like oh my gosh I really didn’t accomplish as much as I thought or I’m not being as creative as I used to be so I really encourage you guys to find that time make the time and by making that time you’ll find that you’re much more creative in that your imagination flows again it was a great experience spending time with Molly she’s gonna be on a podcast here hopefully the next month or so is we get some dates together but again as you take a look at some things I learned from her I hope that some of these will actually be a value and benefit to you and your business and most importantly I again I mention this quite a bit that’s the importance of publishing it’s the importance of remaining relevant and whether that publishing is your own content or of taking someone else’s content you’ve seen on this podcast both ways work with it when I first started everything was someone else’s content recently I’ve really tried to start adding more of my own in and I appreciate the feedback I’ve been getting from others who are saying that they’re joining that or liking my insights on it so if you find that these things are value to you by all means just let me know hit me up on Facebook or email me or whatever it might be I really want to make sure that I’m providing value to you if there’s certain people you want me to interview by all means just email me who they are and we’ll try to get them on the podcast once again I thank you so much for your time and listening to this and I hope this is your finding value in this have an amazing day and we’ll talk to guys soon you know one of the things that means a ton to me is the personal reviews that you guys leave on iTunes you won’t mind going out rate this show let me know how I’m doing just go to iTunes click on the episode and rate it leave a comment I read all the comments I’ve appreciate all the stars and everything everyone you’ve already left for me again I really appreciate it and it’s my way of finding out how I’m doing so if you don’t mind I’d really appreciate it and I again thank you so much for all that you guys do have a great day

 

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