The influence of Emotional Intelligence on entrepreneurial journey

What is truly remarkable about our species homo sapiens is that we are constantly evolving. Not just in our physical but also our mental selves. Take certain psychology theories, for instance. Not too long ago, we developed the IQ test – the standard measurement of our intelligence. This takes into regard visual and spatial processing; knowledge of the world; fluid reasoning; working and short-term memory; quantitative reasoning.

And now, since the last few years, there is a major buzz about EQ – or emotional intelligence. The latter, in a simple choice of words, is “a person’s ability to perceive, control, evaluate and express emotions.”

Though IQ or the level of ‘book smarts’ as per some, is still considered extremely important in how well a person fares in his or her life; it is EQ or ‘street smarts,’ which also are essential in determining our success quotients. This value becomes all the more necessary when we are in the hurly-burly world of entrepreneurship since this is a value which helps us adjudge not just our own but even others’ emotional states. In fact, a number of companies send out EQ tests before recruiting employees since it is this factor which may make or break the day when it comes to certain events.

Take customer support or sales and marketing activities. In these, it is of prime importance that we place ourselves in the shoes of the customer or the complainant. This is the best and most convenient manner to knowing what to do next to make a deal or to salvage the given situation. If we go into the mind of another person, we are accurately able to judge what is going on there. Hence we can find a solution to how to go about sealing the contract for sales or how to sort out the dilemma which they have placed us in.

This process is easier said than done. To be able to know what another human is thinking, we need to be high on our emotional intelligence. We need to have empathy, sympathy and a high level of understanding of others’ feelings.

Such tact does not come easy. It comes if we strengthen our own emotional intelligence. And, the best part about this whole issue is that EQ can be enhanced. It is not a quality which is birth-given and at which we are stuck at the same value forever afterwards.

For increasing our EQ levels, we can enrol for certain programs which help us do so. Dive into the psychology theories and explore the nuances of human behaviour. Employing positive thinking strategies in our lives and times is another way to do this.

Handling manufacturing or design-related emergencies, again a time which oft may happen if you are running an enterprise, is when EQ comes handy. These are those events when you are nearing a point of no return in certain issues – emotions are fraught and tension is running high – at such times, a dose of how to handle people will be extremely useful.

The intention in such cases is to reach amicable solutions and also not mentally disturb all those who are involved in it. This is something which is right up the street of those of us who have good EQ quantification in their systems. Others may hit upon the panic button and lead to a worsening in the existing state of affairs.

Likewise, take a situation of a meeting happening. Again, those who are people-friendly by nature and can get along, will be heard more than those who are perpetually lost in their own themes. This is another reason in the EQ book of theories – people who listen to others and relate to their feelings without being too self-involved are the ones who can come to certain business decisions quickly and in a more meaningful manner.

Incidentally, EQ can also be defined as an ability to identify and manage your own emotions and emotions of others. In its base form, it includes three main skills – emotional awareness, the capacity to manage emotions and apply them to functions such as thrashing out problems; the ability to take care of your own emotions and those of others around you as well.

As per the American psychologist Daniel Goleman, “there are five elements which define EQ – self-awareness; self-regulation; motivation; empathy; social skills.“

All these, in any given context, are very relevant when it comes to running a successful enterprise. Of course, the essence of good business is to have a viable product or service. There is no doubt on this score. But, when we are dealing with customers and clients alike, we need to have a thorough scan of their mindset.

This, last, is possible as cannot be reiterated enough, for those who are more functional in their EQ terrain. Human relations, human bonding is a primary factor which is important for upbeat sales’ figures. Also, teamwork is essential in making your business work well. Team playing, too, is more effective if you have someone capable of handling the emotional variations of all group members well.

Again, if creativity is the bane of your business, it is good levels of EQ, which will beget you better results. Research has even shown that we wish to be around those people who understand us more – and these tend to be the ones who have solid EQ. They seem to have a better understanding and more of a grasp on the occurrences of the day than those of us who have clocked in better IQ results.

Adding to it, ever wondered about the power that EQ has over us which should be talked about more often. Here’s that makes you aware of that power!

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Hey, there? This article has been picked to be republished under the ‘Best of TNT’ series. It is a step further for the content to be contagious to make it counted yet again and for the ones who missed it!