Following on from last week’s blog I wanted to delve into emotional intelligence versus intellectual intelligence. I found the research on the subject of EQ vs IQ to be really enlightening when it comes to running a small business.

What is IQ

IQ (intelligence quotient) is your ability to process visuals and your knowledge of the world, your working memory (short and long term) and fluid and quantitative reasoning. It is the measurement of your intelligence measured in a number.

What is EQ

EQ (emotional intelligence quotient) is a measurement of your social communication skills, ability to identify emotions and relate to others. It is your ability to perceive, control, evaluate, and express emotions. Some people are naturally more emotionally intelligent than others. The good news is you can develop high emotional intelligence even if you aren’t born with it.

It was long believed that a higher IQ was the precursor for a successful career. However, research has shown that in some industries, EQ is more highly valued and lead to higher levels of success. Industries that involve a higher level of social interaction, require a higher EQ. This is based on the theory that people would rather deal with a person that they trust and like rather than someone they do not.

“IQ gets you hired, but Emotional Intelligence (EQ) gets you promoted” (TIME, 1995)

An example would be someone in a managerial role, or looking to move up within a company. Managers need to be smarter with their emotions and cultivate an internal awareness of how emotions influence others. They can communicate their expectations and express their appreciation to their respective teams. Managers who work on developing their EQ are proven to be more responsive and less reactive.

There are 5 Pillars to Emotional Intelligence according to Daniel Goleman, American psychologist. These are:
Self-awareness.

This is your ability to accurately identify how you feel, and how your emotions and actions affect others. It also means that you can identify your weaknesses.

How can you improve Self Awareness?

Researchers believe that keeping a journal offers greater insight into your own thoughts. The process of writing down your feelings, elevates your ability to process them.

Another tip is to slow down your reaction when you experience strong emotions such as anger. Take a minute to process how you are feeling before reacting.  This leads onto point 2, self-regulation.

Self-regulation.

Effective leaders will rarely make rushed emotional decisions. Self-regulation, put simply, is all about staying in control.

How can you improve Self-Regulation?

Know your values, hold yourself accountable and practice being calm. Be aware of how you act and engage in activities that can help you relieve stress.

Motivation.

This one is obvious. Your motivation to achieve your goals daily is what helps to drive your success.

How can you improve your Motivation?

Figure out your “why” and adopt a positive mind-set. Revisit your Affirmations as discussed in our previous blog here.

Empathy.

Leaders with empathy can put themselves in someone else’s situation.

How can you improve your Empathy skills?

Practice seeing situations through the eyes of others. Put yourself in their shoes and really listen to them. Identify any body language that could be perceived as negative, such as crossing your arms. Learning to read body language can be an advantage in a leadership role, because you’ll be better able to determine how someone feels.

Social skills.

Finally, if you have great social skills, chances are you are an excellent communicator. Leaders who have good social skills are also good at managing change and resolving conflicts.

How can you improve your social skills?

Practice your communication skills and learn how to listen to and praise others.

In summary, if you own a business or want to move up the ranks of your company, improving your EQ is nothing but beneficial. Business is stressful, and by working on your EQ, you are improving your ability to work through stress and overcome challenges.