What gets measured, gets managed One of the real gifts poker has given me is that it has been a great jumping off point to learn things from other disciplines like economics, AI, psychology and Game Theory. So here is a series of articles where I bring some of the most interesting things I have learned from other subjects outside of poker which are applicable in this game we know and love.
The Scoreboard Principle is a widely acknowledged concept that emphasizes the importance of measurement to improve performance. It operates on the fundamental idea that “what gets measured gets managed.” By keeping track of specific metrics or key performance indicators (KPIs), individuals and organizations can identify areas of success and opportunities for improvement, driving them to excel in their respective fields.
A prime example of the Scoreboard Principle in action is seen in the world of sports. Professional athletes and teams consistently monitor their performance through various statistics, such as completion rates, goals scored, and personal records. World records are perhaps the best example of this in elite athletes who are already financially secure but want to stay motivated.
In ‘real life’ you see this in the sales industry. Sales teams routinely monitor their performance through various metrics, such as the number of calls made, deals closed, and revenue generated. These figures serve as a solid foundation for setting goals, assessing progress, and making data-driven decisions to boost performance. Anyone who has worked in sales knows just how tightly things are monitored. A secondary goal beyond the money
Poker awards can motivate players to keep going There are so many examples of the Scoreboard Principle in poker it’s hard to narrow down to just a few of them.
The obvious one is tournament leaderboards like the WSOP Player of the Year or GPI Rankings . Often these leaderboards do not come with much financial compensation compared to the expected spend of the players, but they motivate lots of high-stakes players to keep pushing on regardless.
A really unique example of this is a player’s Hendon Mob database . Many of us are […]
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