How and Why EQ Wins Business
The myth that prevails is that it’s intelligence—the know-how about your product or service, as well as book-balancing—which will determine whether or not you succeed in business. However, no matter how smart you are, if you don’t know how to handle yourself in a social situation, you may find yourself in the red before you even know it. Here are some reasons why it’s important to have emotional intelligence, and how you can maximize these skills.
Having a higher EQ means that you’ll have better conversational skills.
It’s a fact we all have to face: if people make us feel uncomfortable, we are not likely to spend any time with them voluntarily. This is something that’s especially important to remember in the workplace, whether you’re dealing with your subordinates, your boss or your clients. Know the art of small talk. Certain topics are universal: the latest movie or a nice place to eat, for example. Tailor your topics to your mutual interests with someone. With practice, you’ll be starting conversations with ease, and making people feel like you’re someone they can approach when they need or want something.
Need to negotiate something? A high EQ helps with that as well.
Knowing how much to ask for in exchange for something else requires social skills—a fair amount of grace that will allow people to feel like they’ve been dealt with fairly, and the skill to read a mood so you know when it’s a good time to bargain, and when you should just put off the discussion. Pay close attention to someone’s facial expressions, word choices and posture. If they look tense or closed-off, it’s not going to happen. This will increase your chances of successfully getting your way.
Improving your EQ can also teach you the value of teamwork.
Working together is important in business, whether it’s for someone else or with co-workers in a group. If you know how to deal with people and handle yourself, assigning tasks will be much easier and your jobs will all go more smoothly. No business exists in isolation, and will require people skills to really take off. If you know how to work well with others and assign tasks properly, it will definitely lead to greater work efficiency.
High EQ means you know how to take care of customers and workers, which leads to greater satisfaction overall.
If you have emotional intelligence, you have a tendency to pay attention to people’s requirements more carefully—you won’t push someone to their limits and offend them. That means you know how many hours to make people work and what to require of them that is manageable within that time. It also means you know the importance of a reward system that will motivate them—after all, happy employees are more loyal to you and have a greater incentive to improve their performance. Customer service will also be better for the same reasons if a person with high EQ is dealing with clients.
Increasing your EQ also means you have a tendency to be more innovative.
Being able to figure out what people want even when there’s a financial risk is dependent as well on emotional intelligence. If you have a high EQ, you are more likely to embrace learning, and thus you expand your potential and creativity. This innovation means you can keep up with the pulse of the market and improve profit margins. It also ensures that your business does not remain stagnant, as you will easily adapt to what is the hot ticket at the moment.