Why is the Emotional Quotient Important for Entrepreneurs?
Have you been relying only on your skills and knowledge in running your business? If yes, then you have to change it now.
In fact, the success of people is influenced by 80% EQ (Emotional Quotient) and 20% IQ (Intelligence Quotient). This proves that EQ plays a significant role in determining your future.
What is Emotional Intelligence?
In simple terms, psychologists describe it as your ability to recognize, control, and evaluate the different emotions in yourself and in others.
Some say it is an innate characteristic that you are born with, while others believe it is something you can learn and develop over time. (entrepreneur.com)
Jadi, EQ or emotional quotient is a person's ability to manage their emotions, especially when dealing with others.
A person's EQ is strongly influenced by personal qualities such as perseverance, self-control, and the ability to communicate with others.
Smart but can't Control Emotions
There are two people applying for a job at your company. After going through several test stages, they had 2 different results. The first person is smart, interesting and lively. Unfortunately, he is arrogant and easily offended.
The second person is also shown to be smart, although not as smart as the first. But the second man can control his emotions and looks humble. Which one do you accept to work? Of course the second person, right?
Currently, EQ is very important in the business world, both in superior-subordinate relations and among business partners. They no longer give priority to one's intellectual intelligence. For them, one's IQ ability is easier to improve than EQ, which is a person's inner character.
People with high EQ are considered able to work better because they can control themselves, so they can adapt to all situations and the environment around them.
Five Categories of Emotional Intelligence
In the book Emotional Intelligence: "Why It Can Matter More Than IQ and Working with Emotional Intelligence", Daniel Goleman categorizes five pillars that can be a measuring tool to determine a person's EQ condition.
You can use these five things as a tool for evaluating your or your employees' emotional quotient.
1. Motivation
People with high emotional quotient can motivate themselves. They are not easily driven by money or degrees. It is personal ambition that keeps them optimistic. Self-motivation makes them always energetic and persistent with their efforts until they are achieved.
A person with a high EQ is a good leader because he or she will push his or her team in a positive and optimistic way.
2. Self-Regulation
Self regulation is a person's ability to control his feelings or mood.
A high EQ will make a person able to wisely express and control his emotions. You won't find a person with high self-regulation fighting in public. They are the ones who think before they act.
The characteristics of people with good self-regulation are being able to adapt well to their environment, remain calm and productive in all situations, and be reliable.
3. Self-Awareness
A person with high self-awareness knows himself well. He will know his own strengths and weaknesses, and know how his behavior affects other people.
Usually self-aware people can deal with and learn from constructive criticism.
4. Empathy
Empathy is the trait of someone who can put himself in someone else's position.
A person with high empathy will have compassion and understanding towards other people. This ability to empathize makes them provide great service and a sincere response to others.
5. Social skills
Social skill is the ability of a person when dealing with other people. A person with a high EQ can build good and long lasting relationships with others. They can direct others to the desired goals and have high trust in their team members.
People who have people skills or social skills and have the four categories above are good leaders.
The Role of Emotional Quotient for Entrepreneurs
Basically, emotional quotient is the ability to understand the factors as well as the people around you.
As a business owner, you will be faced with challenges and problems. Having a high EQ will enable you to keep fighting and trying when you experience failure.
You will know that both success and failure will be with you during your business journey. Your ability to manage your emotions will determine the time you need to improve yourself.
In addition to enabling you to struggle in business, EQ also predicts your performance. Based on a study of 34 abilities/skills conducted by TalentSmart, EQ predictor abilities are 58% stronger than the other 33 skills. Your EQ is the foundation of many other critical abilities that influence what you say and do every day.
Those with a high emotional quotient level will make more money. Based on research in the world of work, 90% of great business travelers have high EQ. On average, they will make $29,000 more than people with low EQ.
So, Train Your Emotional Quotient from Now on!
Once you know the importance of the emotional quotient for a business owner, it's important for you to train your EQ.
If it's difficult for you to control your emotions at this time, try writing a diary. A study states that writing your thoughts and feelings in a diary is the most effective practice which is very helpful to get all your emotions out. You only need a few hours to do it.
Try to get to know yourself. Connect your thoughts and feelings. If you feel something out of the ordinary, it will contradict your feelings. You can help yourself by asking Why could I be thinking this?
Listening to your feelings is like hearing a witness in court. Only by acknowledging all available evidence, you can understand and achieve the best results. If you're not a person who is great at controlling your emotions, try asking someone else.
Keep in mind that a successful entrepreneur is one who is able to manage his emotions well. Are you ready for success in your business?
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