Business is built on relationship and to succeed, entrepreneurs must also hone their emotional intelligence or ‘EQ”.
EQ is the ability to identify and manage one’s own emotion .This enhances their problem solving abilities and is the strongest predictor of performance. When we let an emotional reaction cloud our decision making process, our perception is distorted and we start making mistakes .An individual with strong EQ will understand that while one cannot control everything that affects business, his/her reaction will impact what comes next. Someone with high emotional intelligence won’t be distraught by an early entrepreneurial failure. Instead,he or she will actively look for ways to bounce back.
Entrepreneurs are generally more willing to take risks than an average person but they need to take calculated risks. By not letting extreme positive or negative emotions to cloud one’s judgement ,one can step back, look at the bigger picture and make a more rational decision.
Strong EQ also breeds optimism and resilency, vital traits for navigating ups and downs that come with running a business.
By keeping cool when things go wrong and always treating team members with respect, one can foster loyalty and reduce employee turnover. As with any other skill, emotional intelligence isn’t something that comes naturally to everyone. However, practicing EQ attributes and learning to play a proactive role in controlling one’s emotional state will help one improve these crucial skills over time