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19honu62 ( Cowboy )

/Nov/2011

S.M.A.R.T. Plan

By: 19honu62 @ 09:43 (EST) / 897 / Comment ( 0 )

Howdy Posse,

Cowboy here again wanting to share some secrets that I have found to work well for me in the lines of good bankroll management and having a plan and a process.

Back a number of years ago I was reading Steven Covey's 7 Habits of Highly Successful People and he talks about his S.M.A.R.T. plan. I love it and have used it in my career and figure that there isn't any reason why this shouldn't work in the poker world.

In Poker although it should be veiwed as one long lifetime game, we always need to have goals. But what is a goal if it is not Specific, Measuarble, Attainable, Reasonable and Time sensitive. Just as we need to be focused and paying attention to the players at out tables to identify their weaknesses and whom we can exploit. Just as we need to focus on our game to see where we are leaking chips. Having goals are a very important part of our game.

So we need to make sure firstly that we are setting goals. Or a poker road map if you will. Do you ever go on vacation and get in your car and just drive? Without a gps system or a road map of some sort we will get lost if we are unfamiliar with our path to get their. So it's the same with poker!

Do you just sit down at a table and fire up a game or three or ten and 4 different buy in levels or do you fire up 10 cash tables and say well i will just sit and play until I am tired or until I double or ...... well this is a partial plan but it isn't very Specific. It is somewhat Measurable, Attainable and Time sensitive but is it Reasonable. This is a key part to having good success among other factors of course.

I am suggesting  that you should set goals that are Specific, Measurable, Attainable, Reasonable and Time sensitive. So think about what that is for you. Many of you probably do some of these things and have some success but take a look at your goals and see if they meet this criteria.

Now these plans can be and should be done on both the short term and long term basis. So for example my current plan is to play 1000 games at the $3.50 level in 3 months or less and to double my original starting bankroll of 25 buy ins. It is very Specific, I can Measure it because I spreadsheet my games. It is attainable as I multi table and have done this before and Reasonable as I feel my skill and results show I can play at this level and it is Time sensitive. Does this mean I will succeed? Not necessarily and in fact i won't have it done in 3 months as other things have come up to get in the way. But I should acheive the other 4 parts of it. My next step is to then move to the $7 9 mans and play 1000 of those in 3 months or less and double the original 25 buy ins I plan to allocate towards this.

So I encourage you to take a look at what you are playing and see if it fits this simple plan! If it does awesome and if it doesn't then take some time and change what needs to change.
 

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