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Transitioning into a new profession... I'm ready!

computerhxr

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I decided that I am no longer interested in what I do for a living anymore. I want to have more freedom so that I can pursue my other interests.

I am still figuring it out, but I want to launch several businesses with residual income streams. Also, I'm going to start playing poker professionally.

I have a lot of ideas but that is basically what I've decided. I want to finish the transition over the next couple of months. By next summer, I want to be able to focus on playing poker without having to worry about having an income to support myself.

This is a somewhat ambitious goal but I'm probably going to discontinue my current work in about a month. I will take a few other side jobs for a couple of months but only if they are really interesting and fulfilling jobs.

I started creating the businesses about 1 year ago. I tried to fund everything with cash-flow from client work, but a few clients screwed me over and I had to put it on hold for 8 or 9 months. I fired the problem clients and am continuing work for the good clients in the mean time.

I feel really good about this! :smoker:
 

Ex-User (9086)

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I'm going to start playing poker professionally.
Playing poker professionally doesn't require drastic changes to ones life.

The rest...
Good luck? It's mostly unsubstantial information here, so I guess it remains to be seen, as usual.
 

computerhxr

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Playing poker professionally doesn't require drastic changes to ones life.

If that was true, then I would play more often. The best days to play are on Friday and Saturday nights, then on Sundays. The last time that I played was nearly a year ago. I quit playing to hang out with friends since they all were in school or worked during the week so they only had weekends free.

Plus, I have obligations that get in the way of playing. I'm freeing up those obligations so that I can actually make time to play.

I'm feeling confident that my businesses will take off soon. I just had cash flow problems because of shiesty clients.

Thanks for the sentiments! I created the business with a rapid expansion model, and it doesn't require promotion. I didn't really want to go into specifics in the forum about the products but essentially I created 2 web applications with monthly subscription fees. Lots of upsell opportunities and product variations. I'm only targeting a small demographic but the market is much larger and it would only take a few weeks to re-brand a product for each.

I'll report back with my progress over the next few months and let you know how it goes.
 

Jennywocky

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Good luck, I hope everything goes well! I think it's great you decided you wanted to do something, then took the necessary steps to get there (some people are not willing to take risks)... although I'm more impressed with how you managed to set up the residual income flow, that was smart. Great idea. :)
 

computerhxr

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Good luck, I hope everything goes well! I think it's great you decided you wanted to do something, then took the necessary steps to get there (some people are not willing to take risks)... although I'm more impressed with how you managed to set up the residual income flow, that was smart. Great idea. :)

Thanks! I put a lot of planning into everything as far as the development and business strategy. I calculated everything out so that I don't have to sell many accounts to cover my expenses, and I have cut costs by doing a majority of the work myself. That way if it doesn't do well, I could always take another project on the side until it does. If I manage to sell around 40-50 accounts, then I am set. So I'm hoping that I can add a few each month until I hit those numbers.

Last night, I scraped all of the emails that I received regarding interest in purchasing one of the two products (or other interests). I created an intake form for entering them into my customer database. After I add them, I can start sending them notifications about the product updates and how to sign up.

Today, I am making updates to the software and writing the documentation for one of the products. I will probably record a 4 or 5 tutorial videos. If I have time, I will finish going through the prospect list and enter them into the database.

I signed up the first 4 accounts over the last week and a half. I also scheduled 2 meetings early next week to discuss my product with potential customers. Two customers want to hire me to setup their accounts, but I turned one of them down because the sounded like it would be a pain in the ass.

So that's pretty much it for the week. Just going to be tinkering with it over the weekend and setting up sales funnels.
 

QuickTwist

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Poker is fun, but very hard to do professionally; its damn near impossible to beat the rake. Unless you're doing home games which then it can get difficult to find the right stakes/ability levels (yes I'm serious). Also, casino or online?
 

QuickTwist

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Some serious questions: Do you have a bankroll and plan of attack? How long do you expect it for you to move up stakes? Tournaments or ring games? How do you feel about rebuys? do you know about table selection and where to sit? Do you use math or reading tells to play? And asking the obvious question last, you're reading up on all this stuff right?
 

Architect

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At least tell us

- what is the old profession and what is the new?
- why are you making the transition?
- does type play a role in any of this?

/curious
 

computerhxr

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- what is the old profession and what is the new?

Old profession was a combo designer and programmer/engineer. I focus primarily on web applications because it's easy and there is a lot of work.

New profession is running my business. I sell software as a service and clients pay for custom development to integrate my apps with their business.

- why are you making the transition?

Had a few clients that kept adding more work to the scope and made threats when I wanted to re-evaluate the project. Ended up working nearly 6 months for free and it delayed the launch of my business. Ran up tons of debt and I lost pretty much everything trying to make them happy. I should have sued them but I don't want to be that type of person.

Basically, they would send me a document with a list of development work. I would ask if I finish this, will that satisfy the project? They would say yes. I would do the work, and they would send me another list. That happened 4 times. I ended up refunding them 1/4 of the project total. I gave them a really good deal, and improved their application so it loaded 30 seconds faster and streamlined their customer support process. It was ridiculous. I had 4 clients act like that in a row so I just refunded the money and decided that I will never do that sort of work again.

- does type play a role in any of this?

I'm a better developer than I am a business owner. I have been trying to find a partner to handle the management portion of the business. I am good at applications and selling them because that is my thing. I avoided starting a business earlier because I didn't want to handle the customers but I'm find with that now. My goal is to keep the business small so I can run it myself and to create other micro applications slowly over time.

It's totally against my INTP nature to run a business and I don't really care about making more than I need to cover my expenses. So I decided to just take things slow and not worry about it because I'm getting several people who want to sign up every week.

I was thinking of shutting one of the businesses down so people would quit bugging me about it. After the client troubles, I totally shut down and couldn't work. I haven't been able to get any work done for over a month since I quit working for the clients.

Everything will work itself out from now on and I'm not worried. I have enough clients to cover my expenses at the moment and there are about 40 or 50 people waiting. I'm just don't have the energy yet. I have been allowing one new customer per week MAX. Everyone else can suck it!

The crappy part is that I have had perfect credit up until now. So it really screwed me over and over again. The debt will pay itself off over time and I will be free to do whatever I want by the end of the year. The businesses are basically automated so I only have to support new customers.

It was a shitty year. :rolleyes:
 

computerhxr

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Some serious questions: Do you have a bankroll and plan of attack? How long do you expect it for you to move up stakes? Tournaments or ring games? How do you feel about rebuys? do you know about table selection and where to sit? Do you use math or reading tells to play? And asking the obvious question last, you're reading up on all this stuff right?

I keep track of a bankroll. I have played a couple of times recently and lost so my mojo is gone for now. I just can't stay focused on the game so I make a lot of stupid mistakes.

Previously, I would leave 100% of the time with more than I came with so it wasn't really questionable. I play no-limit cash games at casinos.

Tournaments take too long and I only expect to place in 1 of 4 games on average. They take around 3-4 hours and the pay out is low compared to cash games. Plus they don't run as often and several other reasons that I don't play.

I use relative bet values which is based on the Golden Ratio. If you play top 6 hands, and only in position, you will win 80% of the time. You can shove and get callers pretty much every time.

I haven't played in several years prior to a few weeks ago. I just went to get a feel for the different poker rooms to see where I would do the best. It's best to play during specific times because you know who will be playing. One casino is near a military base and they get paid on the 1st and 15th. That is basically free money. If you play mid week, most players are regulars so the odd drop by a lot and it doesn't pay out.

Another casino has their tables near a bar and sports betting. The drunks wander through and donate a few hundred each on the weekends. If you play for a 8-15 hour shift on a Friday or Saturday, it's a few grand in income each day. It's $200 to buy in. So it's pretty good money and that is at the lowest stakes.

Some people play and have hands that are a few grand at a time. I don't really want to try that out unless I have money to burn. The low limits pay plenty.
 

QuickTwist

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IDK about that whole ration thing. Seems like a way to play that is way too sane for me. When I left the scene I was looking into loose aggressive style. You can make a lot of money that way. Just play Loose (standard) and play aggressive after flop. People will be scared cuz you could have anything.
 

QuickTwist

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One last question...

Phil Ivey or Phil Hellmuth?
 

computerhxr

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One last question...

Phil Ivey or Phil Hellmuth?

Phil Ivey of course!

Phil Hellmuth just gets lucky... A LOT!

Once you have enough chips you don't need luck anymore. So get lucky early, then just start throwing chips around. Once I'm chip leader in a tournament I've already won.
 

Teffnology

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Phil Ivey for sure. Hellmuth would probably be more fun to play with, as well as more entertaining. Ivey is just simply the man! (I would probably bet he is an INTP based on his personal life maybe a J)

I've been playing online since 2007 and live in casinos for the past 2.5 years or so, over the years I've found keeping a ledger recording your sessions (brief description of mindset before and after session, possible critique of certain key play/move/bet, and overall profitability of session) is a really effective tool that eventually shows patterns of results correlated to circumstances and behavior.

I am definitely from the Mike McDermott (Rounders) school of thought in power poker. Premium hands in premium position as a starting point to get probability in your favor from there its mostly about feel. Once you have a read on how a certain player is betting/raising/folding in certain situations it doesn't even matter what cards you have.

Not tells as in facial ticks or gum chewing, per se, but more how they are presenting themselves (competent, sucker, shark posing as sucker, or wildcard). After the blinds pass once or twice I generally know what kind of player each seat at the table is. IMO its not even worth playing unless you know who that sucker is and they have too many chips.

Grinding it out with competent players or sharks and especially wild cards (loose aggressive) is a roller coaster ride in no limit. Definite hot and cold streaks that make you question the whole thing because all of a sudden two negative sessions erase 9 previous positive sessions in a hand or two. Beware of the swings!

The atmosphere is awesome for me though. Its kind of like a large group of friends that I can come and go from as I please. Someone is always there that I can talk with if I want or I can just throw in my headphones and be in my own world if I want instead and nobody gets their feelings hurt. I can keep my Ti-Ne going while keeping my Fe satisfied.

If you have that residual income going that is truly a difference maker in riding out the swings. Peace of mind and freedom to play your style without external financial pressures is key. Kudos on that! Have fun and don't bring your Oreo's to the table...
http://www.google.com/imgres?imgurl...DVPqLNsa1ogSd64HwAQ&tbm=isch&ved=0CB4QMygAMAA
 

Teffnology

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Tourneys are kind of a crap shoot but the big money ones (starting at $225 entry) with a decent turnout can be a lot of fun and pay WAY more than a cash game ever would.

Cash games are the way to go as far as efficiency is concerned in regards to ROI. I think you can make any strategy work if you stick to it with confidence and conviction but not being afraid to adapt if need be.

I am thinking that I may be going the opposite direction you are, at this point in my life. Im entertaining the idea of designing web applications for an industry I currently have a great deal of interest in. I have some experience using Processing and basic HTML stuff. Where should I start in my journey to build/design such things?
 

computerhxr

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Phil Ivey for sure. Hellmuth would probably be more fun to play with, as well as more entertaining. Ivey is just simply the man! (I would probably bet he is an INTP based on his personal life maybe a J)

Yes, I would agree.


I've been playing online since 2007 and live in casinos for the past 2.5 years or so, over the years I've found keeping a ledger recording your sessions (brief description of mindset before and after session, possible critique of certain key play/move/bet, and overall profitability of session) is a really effective tool that eventually shows patterns of results correlated to circumstances and behavior.

I just keep track on a daily basis.

I am definitely from the Mike McDermott (Rounders) school of thought in power poker. Premium hands in premium position as a starting point to get probability in your favor from there its mostly about feel. Once you have a read on how a certain player is betting/raising/folding in certain situations it doesn't even matter what cards you have.

I don't know who that is but that is my style of playing. Except when there is a reason to do otherwise.

I will play small-ball as well if the hand holds up on the flop. Flushes are surprisingly common especially if you hang onto small suited connectors. Gotta play it right though or you will become a loser quick.

Not tells as in facial ticks or gum chewing, per se, but more how they are presenting themselves (competent, sucker, shark posing as sucker, or wildcard). After the blinds pass once or twice I generally know what kind of player each seat at the table is. IMO its not even worth playing unless you know who that sucker is and they have too many chips.

I mostly look for the lean. If they look at their cards, see if they lean in and start to focus on the game. If they lean back or become uninterested, they are probably going to fold on a raise, or just limp in. You can steal of isolate because you are technically in a later position if you know they are likely to fold.

Grinding it out with competent players or sharks and especially wild cards (loose aggressive) is a roller coaster ride in no limit. Definite hot and cold streaks that make you question the whole thing because all of a sudden two negative sessions erase 9 previous positive sessions in a hand or two. Beware of the swings!

Just have to not be committed to hands. It's easy to get people committed when you have the nuts and sink them like a ship with a false bluff or value bet.

The atmosphere is awesome for me though. Its kind of like a large group of friends that I can come and go from as I please. Someone is always there that I can talk with if I want or I can just throw in my headphones and be in my own world if I want instead and nobody gets their feelings hurt. I can keep my Ti-Ne going while keeping my Fe satisfied.

Oh man, I would kill at home games! It would be like free money!

If you have that residual income going that is truly a difference maker in riding out the swings. Peace of mind and freedom to play your style without external financial pressures is key. Kudos on that! Have fun and don't bring your Oreo's to the table...

My longest streak of playing was a summer when I was unemployed. My friends called me an attic and were only available on weekends so I stopped. It was the most money that I have ever made in 3 months.

After that, I got to where I make a lot more online per hour so it was a toss up. I don't like playing high stakes and if I'm in a bad mood I lose.

Tourneys are kind of a crap shoot but the big money ones (starting at $225 entry) with a decent turnout can be a lot of fun and pay WAY more than a cash game ever would.

I played a tournament recently. Totally forgot how fast it goes! I could change my play and win 25% of tournaments no problem. Whenever I get past 2 hours, I start to dominate the other players. Early in the game is a crap-shoot, I will agree with that. If it's slow and with deep stacks, just sit out the first hour. Professionals won't even play for the first day sometimes at $10,000 buy-ins.

Tournaments with 35-45 people are pretty much a given for me. They are perfect for my style of play.

Cash games are the way to go as far as efficiency is concerned in regards to ROI. I think you can make any strategy work if you stick to it with confidence and conviction but not being afraid to adapt if need be.

Playing a safe game in $1/2 NL is easily $35-45/hr. This would be a very simple strategy that you could teach someone in an afternoon.

I am thinking that I may be going the opposite direction you are, at this point in my life. Im entertaining the idea of designing web applications for an industry I currently have a great deal of interest in. I have some experience using Processing and basic HTML stuff. Where should I start in my journey to build/design such things?

I wrote some rants in this thread: http://intpforum.com/showthread.php?t=20561
 

Teffnology

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I mostly look for the lean. If they look at their cards, see if they lean in and start to focus on the game. If they lean back or become uninterested, they are probably going to fold on a raise, or just limp in. You can steal of isolate because you are technically in a later position if you know they are likely to fold.


So true. Ya I don't even look at my cards when in position, until its my action. I just look at how they interpret their hand. If someone gets a big pocket pair they usually snap the cards really quick after seeing them and they tighten up physically.
Using the is info I have better idea of if my position bets are worthwhile or not.

After that, I got to where I make a lot more online per hour so it was a toss up. I don't like playing high stakes and if I'm in a bad mood I lose.

Thats my issue is I enjoy playing with the big boys and learn more but my roll is much more volatile.

Professionals won't even play for the first day sometimes at $10,000 buy-ins.

Ive found that cheaper tourneys with a single rebuy before the break, an effective strategy is signing up 10 minutes or so before the break and just shove with any face card or pocket pair. If you double up then your golden and can play your style. If you have to rebuy then its no different than starting after the break. The beginning of tourneys are all a luck fest, this just doubles down on getting lucky and having a bunch of ammo for later rounds.


Playing a safe game in $1/2 NL is easily $35-45/hr. This would be a very simple strategy that you could teach someone in an afternoon.

I lack the discipline and patience to stick to this plan but it really is the only way to have a reasonable amount of consistency. $2/5 has some massive pots that are way too tempting and I cant help myself.



WATCH ROUNDERS!
 

Teffnology

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If you can find a consistent home game, Ive found the guys who "love poker" and the WSOP on ESPN think they are the shit are such donks!

That basically is free money, they usually have ridiculous trust fund deep pockets tho so the stakes can get CRAZY! I played with one of my former supervisors and he dropped 2k like it was toilet paper on runner runner flush draws. They live for that one time. Fun but occasionally back breaking because no matter how many small victories are won their wallets win the war of attrition.


I reviewed your posts on Web Development and have been scanning Ask Architect (who it seems you have some fundamental differences with, which I find fascinating btw). I am using my spidey senses to gather some information on past threads so I can start my own thread with more detailed questions for the group at large. Thank you for your input.
 

computerhxr

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@Teffnology,

We should play poker some time. It sounds like we have similar strategies.

And the business is at the point where it will cover my living expenses by the end of this month. Had several setbacks so I ended up taking a break to recharge.

Maybe we can partner on a project at some point?
 
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