Importance of emotional intelligence as an entrepreneur.

Emotional intelligence
Advertisements

Emotional intelligence has been defined, by Peter Salovey and John Mayer, as the ability to monitor one’s own and other people’s emotions, to discriminate between different emotions and label them appropriately, and to use emotional information to guide thinking and behavior.

The importance of being emotionally intelligent as an entrepreneur can not be undermined as it is very essential in dealing with customers, increasing leads, teamwork, and making rational decisions.

It takes more than just good business sense or the right skillset to run or build a high-value venture.

Emotional Intelligence skills for entreprenuers.

Social Skills.

One of the most vital EI skills you should possess, whether you are in business or not, is interacting with people and forming positive relationships. Emotionally intelligent people know how to build trust and respect with those they come in contact with. They are good at building networks and managing relationships.

Self Awareness.

Being self-aware means you recognize and understand your emotions and moods, as well as your strengths and weaknesses. You know that every decision you make has a consequence, which can also affect others.

Self-regulation.

Are you able to express your emotions maturely?, self-regulation helps you not to respond impulsively as it makes you express your feelings in a constructive manner.

Self-motivation.

Emotionally intelligent people do not rely on external factors (such as money, titles, or what people think about them) to get motivated. They pursue their goals for reasons of self-development and personal gratification. They have an inner drive that keeps them going and are able to withstand failures, disappointments and defeats.

Compassion.

Compassion is the ability to recognize, understand, and feel the emotions of others.  It involves sharing other people’s feelings and genuinely responding to their needs. It is not the same as sympathy which has to do with a feeling of pity.

Characteristics of emotionally intelligent entreprenuers.

  1. Open-Minded.

Taking an honest perspective about what you know and accepting what you don’t know allows opportunities for change and new experiences. This may be a sign of EQ, but it also broadens opportunities that feed into people’s IQ.

2. Articulate Feelings.

It’s not enough to know your emotions. People with high EQ have the ability to describe them to others. This communication is key when working with others that are still learning their emotional triggers and how to handle them.

3. Empathetic.

Not only do high EI people understand and communicate their own feelings but people with high EQ’s actively seek to understand others’ emotions which in turn reduces drama caused by misunderstandings.

4. Observant.

High EI people are genuinely curious about everyone. They are constantly fascinated by people’s behaviors and reactions. This further feeds into the empathy noted above.

5. Leads by Exmpale

No one enjoys a lecture and people with EQ know it! Instead of telling employees what to do, an EQ employee gains influence with others because they lead by example at every level in the organization.

6. Active Listeners.

There is a difference between hearing and listening. Emotionally intelligent people are constantly aware of this and when an opportunity presents itself they make efforts to actively listen and comprehend what someone is telling them.

7.Personally Motivated.

Personal development is a priority for a person with high EQ. They enjoy the process of growing themselves and know that this gives them an edge when overcoming obstacles.

8. Helpful

People with high EQ’s help others. They invest time and effort in to assist people in any way from helping a coworker with a project to holding doors for strangers.

9. Balanced

There is increasing awareness of the need for work-life balance in today’s workplace culture. Because high EQ people are very self-aware they can easily identify what they need to attain that balance.

10. Transparent

Honesty is highly valued by high EI individuals. Whether it is high stakes ethics or being completely honest with the progression of a project, you can count on a high EI person to tell the truth.

How emotional intelligence affects business.

Positive organizational climate is created through leaders and employees who are internally aware of their emotions and those of others and able to understand what is happening inside the organization with its people and business potential.  As people in an organization develop new levels of mental and emotional self-management, organizations naturally become more productive and responsive to the needs of its employees and also more creative. Without creating an environment that fosters mental and emotional balance and providing the information and motivation needed to help people develop new self-management skills, organizations cannot expect to see long-term sustainable success in today’s business world.

Author: Austine