The most effective managers make good use of their IQ (intelligence quotient) and EQ (emotional quotient).
IQ is a measure of a person’s ability to solve problems, use logic, strategise, and understand complex ideas. EQ (also known as emotional intelligence) is the ability to relate to others, identify, assess, and regulate emotions in order to be socially aware when interacting with others and when problem-solving.
Successful business executives tend to have a high IQ as this is key to their personal performance. However, they also tend to have a high EQ as this is critical for understanding and managing people.
A successful business leader needs to be able to switch between making analytical decisions such as running the numbers on a set of accounts, and emotionally driven decisions such as how to win over new clients.
The eloquence, good memory and capacity for learning associated with a high IQ are attributes that the best business leaders possess. EQ is equally important as it allows business leaders to read body language and tune into the emotional state of others. This can make all the difference when trying to close a deal, negotiate a contract or when managing a team of people.
While our IQ doesn’t change significantly during our lifetime, EQ can evolve and develop. In order to improve your EQ, try to be more self aware. Observe and reflect on your feelings, how you react to these feelings and how they impact those around you.
Take time to evaluate yourself and your own behaviour. Step back and look at what you’re doing and how you feel about it. Identify your strengths and weaknesses and consider how to improve your weaknesses.
Once you have built some self-awareness and you have an understanding of your thoughts, feelings and stressors, you can strive to control them. Pause and reflect on things before making a conscious decision on how to react. Learn to channel your emotions and take responsibility for your own actions. Be open to feedback and consider how your behaviour affects others.
All business leaders need experience and technical skills but in order to inspire their teams to learn more, do more and become more, you need emotional intelligence. In short, intelligence and empathy equals business success.