We have all heard of “IQ”, and though we may not know what our “score” is, if you’re running a business then it is clear you have a strong level of intelligence. Making clear decisions, understanding your finances and analytic thinking are essential in business, but what often gets overlooked is the need for strong EQ, or Emotional Intelligence.
What is EQ?
EQ is a person’s ability to understand not only their own emotions, but the emotions of others as well. Along with understanding emotion, someone with high Emotional Intelligence will show traits such as compassion, tolerance, trust, flexibility and empathy.
How can EQ help my business succeed?
People are the core of any business, be it those who work within the business or the customers at the other end. EQ is important in ensuring that your business is building great relationships with the people that matter. Along with making analytical decisions, someone with high EQ will be able to action decisions in a way that staff, clients and customers will best respond to. Several studies show that businesses that are led by managers with high EQ show higher profit than those with lower EQ.
How can I make EQ part of my business strategy?
Once you understand the need for EQ and are willing to add it into your business strategy, you need some insight on how to do just that.
Here are some pointers:
1. Understand where each person sits on an EQ scale. There are several tests to determine this and articles which help explain what to look for. This can be done together or privately depending on your team, but understanding your own EQ is an important step to improving.
2. Be accountable. Accountability will help keep everyone on track – this may mean gently reminding each other of the EQ traits when things are becoming overwhelming or putting an EQ mantra up on the wall for new team members to refer to.
3. Hire for IQ and EQ. Bringing the right people into your team initially will ensure that Emotional Intelligence is a priority and the positive and empathetic culture will stay intact.
How can I prioritise EQ when I am trying to do everything else?
Running a business means being pulled in a thousand different directions, so trying to prioritise new learning or a new strategy can seem like an impossible task. Breaking down your priorities and outsourcing what you can is a sure-fire way to ensure you’re making the most of your precious time.
Consider which areas of your business you can hand over to a team of experts in order to utilise your time and skills better. For many, marketing and communications can be the most time consuming and complex, especially if it is not your forte. If you have set a goal to bolster EQ in your business, it could be advantageous to have a team of experts looking after the development of an exciting marketing strategy for your business.
How can vLinkD help?
vLinkD can help develop, manage and implement a brand strategy and make sure your end to end marketing is in-line with this, from generating a website right through to creating multi-platform content.
Emotional Intelligence will help your business go from strength to strength and vLinkD can ensure you have the peace of mind to focus on creating the right EQ strategy for your business. For more information on how we can help, visit our website or call 1300 793 465 today.