In 1995, American psychologist Daniel Goleman published the book Emotional Intelligence. Goleman, doctor of clinical psychology and personal development, argues that emotional intelligence could be more important than the infamous Intelligence quotient (IQ).
What is emotional intelligence?
Unlike IQ, emotional intelligence is a qualitative measure of human intellect. It represents the ability to identify and deal with your own emotions and those of others.
Emotions are both the cause and consequence of the events of our lives. They are therefore at the center of our behaviors.
How will demonstrating emotional intelligence allow you to be a better entrepreneur?
Seperate the different areas of your life
Any entrepreneur will tell you: the early stages, and even the first years, of a business are the most precarious. Finding clients and managing cash flow are a constant concern of entrepreneurship. These issues, often anxiety-provoking, constantly hover in the minds of entrepreneurs to the point of preventing them from thinking rationally.
Emotional intelligence allows the entrepreneur to make the important separation between personal and professional life. This ability to switch from one to the other reduces the risk of making hasty decisions.
Efficient business management
By paying close attention to our emotions and reactions to an event or activity, we are able to better manage a business.
We know what drives our productivity and what holds us back. We can thus better equip ourselves to face our tasks: plan the week taking into account all the emotional factors, give ourselves more time to accomplish tasks that we consider less pleasant or even define which business partners we could benefit.
Better appreciation of customer needs
A leader who demonstrates emotional intelligence can more easily put themself in their clients' shoes. They are able to adapt more to their target customers by identifying their emotions when faced with the need and use of a product.
In addition, their communications will evoke a feeling of belonging among their customers, which will ultimately solidify their market share.
If you feel the need to work on your emotional intelligence, know that it is not solely innate. Indeed, you can develop or acquire this aptitude by paying attention to yourself, your feelings, your reactions, and by having honest and transparent conversations with those around you.