If you’ve recently read anything about getting ahead at work, success in life, or entrepreneurship you might have read that people with high Emotional Intelligence (EI) are more likely to get hired or achieve success.
For the longest time, IQ was regarded as the primary determinant of success. People with high IQs were assumed to be destined for a life of accomplishment and achievement. However, evidence and research have shown that high intelligence was no guarantee for success in life. Perhaps that was a narrow conclusion, disregarding the wide range of human abilities and knowledge.
So what’s more important in determining life success—book smarts or street smarts? IQ or EQ?
IQ (Intelligence Quotient) is a measuring unit for intelligence potential, it is a gauge of a person’s reasoning ability, how well someone can use information and logic to answer questions or make predictions, while measuring the capacity for comprehension, the IQ defines the ability to support academic intelligence.
Emotional intelligence (EI) also known as EQ (emotional quotient) is the awareness of one’s emotions and the emotions of others in relation to interaction and management. It is also widely recognized as a valuable skill that helps improve communication, management, problem-solving, and relationships. According to researchers, It is a skill that may not always be inherited but can be improved with training and practice.
If your worried about your IQ, here’s some good news
While IQ is a good predictor of success in many fields, a variety of studies have shown that EQ can actually give you an advantage.
Google who conducted a multi-year study into the traits of its most effective managers was surprised to find that people skills were much more important for team performance than sheer mental power.
Nobel-prize-winning psychologist Daniel Kahneman found that emotional abilities influence the choices that consumers make when confronted with buying decisions. He found that people would rather deal with a person that they trust and like rather than someone they do not, even if that means paying more for an inferior product.
Also, in an article in Inc.com, It is said that Experts found that EQ is far easier to train through conscious effort than IQ That means when you’re building up your capacity for success “EQ” is within your reach. Simply Devoting time to coaching and learning, can develop this most essential skill for entrepreneurial or life success overall.
How can Emotional Intelligence Be Learned?
The key skills for building your EQ and improving your ability to manage emotions and connect with others include:
- Self- management
- Social awareness
- Relationship management
If you are self-aware of what you are going through, you would be in a better position to understand others and affect people around you. It also means you are aware of your strengths as well as weaknesses. It is having the ability to understand and accurately perceive your own emotions and identify the specifics of an individual’s own behavior.
How to Develop a working awareness to aid decision making?
- Identify and understand the emotion and consider exactly what the problem is and the ramifications of your proposed solution.
- Recognize and name all feelings you are experiencing in connection with the decision.
- Identify its root cause of your emotion
- Process that emotion, not one of its symptoms (a feeling).
- Be conscious when making a decision based on the emotion that you feel now
This is the ability to control, influence, and direct your own behavior. Self-management requires a high level of self-awareness in order to identify the behaviors and emotions the individual wishes to influence. Emotions are important pieces of information that tell you about yourself and others, but in the face of stress that takes us out of our comfort zone, we can become overwhelmed and lose control of ourselves.
With the ability to manage stress and stay emotionally present, you can learn to receive upsetting information without letting it override your thoughts and self-control. You’ll be able to make choices that allow you to control impulsive feelings and behaviors, manage your emotions in healthy ways, take initiative, follow through on commitments, and adapt to changing circumstances.
This is the ability to accurately determine and identify the feelings and emotions of others, but also the possible triggers and underlying causes of their emotions. It helps you recognize and interpret nonverbal cues others are constantly using to communicate with you. These cues let you know how others are really feeling, and what is truly important to them.
Social awareness also means you have empathy. You can understand the emotions, needs, and concerns of other people.
Mindfulness is an ally of emotional and social awareness
To build social awareness, you need to recognize the importance of mindfulness in the social process. After all, you can’t pick up on subtle nonverbal cues when you’re in your own head, or thinking about other things.
Relationship Management- This is the ability to interact effectively and successfully with others. Learning how to build trust in your relationship with others, having an open-door policy, and showing that you care.
Also, You must be able to use your emotions to make constructive decisions about your behavior because when you become stressed, you can lose the ability to act thoughtfully and appropriately. Exercise sensitivity and learn to make the necessary adjustments to achieve the most desirable relationship outcomes.
- Become aware of how effectively you use nonverbal communication.
- Use humor and play to relieve stress.
- Learn to see conflict as an opportunity to grow closer to others.
Emotions can affect your finances
According to a study by a group of psychological scientists from Columbia University and the Harvard Kennedy School of Government- negative emotions can affect financial planning as they have the capacity to affect your mental state, which can result in bad investment options.
Be aware of these 3 Emotions
Sadness According to the study, sadness induces impatience and narrow-mindedness. When making decisions on financial planning, sadness can cause a need for immediate gratification in favor of carefully planned investments because a negative emotion, creates a biological response that dictates an urgent need to deal with it.
For example: When your shopping you are more likely to splurge when feeling low as compared to when you are feeling happy. It’s more of the want, not the need.
Fear Doing something new like investing can cause valid and genuine fear. Even experienced investors can become scared at times. People make bad decisions, get carried away by emotions, and lose money because of situations outside of their control
The Key takeaways
- Identify your goals across different times spans
- Analyze your risk tolerance
- Take time to learn the ins and outs of the business and the investments your making
- Start small, get your feet wet first, learn more, and become more confident.
Envy It’s natural to be envious of other people’s achievements or possessions. But sometimes this emotion can lead to jealousy, resentment, and the famous “keeping up with the Joneses” mentality causing you to spend beyond your means while affecting your personal financial plans. Instead of feeling envious be Inspired to go after your dreams.
13 Ways to Increase and Develop your Emotional Intelligence
Anyone can boost their emotional intelligence by taking the time to learn about people and becoming more self-aware of their own emotions. If you practice becoming more mindful of your own feelings and your reactions to others, you’ll become more empathetic.
- Practice ways to maintain a positive mental attitude.
- Manage your negative emotions : HOW TO STAY AHEAD OF YOUR QUITTING MIND
- Practice self-awareness.
- Learn empathy.
- Be motivated.
- Utilize active listening skills.
- Be open to constructive critisism
- Use assertive style of communication
- Know your stressors.
- Bounce back from adversity.
- Stay Calm. Respond instead of reacting to conflict
- Utilize leadership skills.
- Learn to be approachable and sociable.
Life success is a result of many factors. Both IQ and EQ play roles in your overall success in life – from finances to health, contentment and happiness.
Although success is defined differently by different people, many factors play a part in an individual’s success. Like mindset, personality, determination, work ethic, vision, creativity, habits, originality, etc. all of which carry different weights in predicting a person’s success in various situations. It’s rarely an either-or situation.
Instead of focusing on which factors have a more dominant influence on you, the greatest benefit may lie in learning to improve skills in multiple areas. Yes, it is said that it is easier to develop your EQ but strengthening your cognitive abilities, such as memory, alertness, and mental focus, is also achievable.
Regardless, both IQ & EQ have their own unique strengths and if possible we must utilize and balance both intelligence. While IQ helps you strategize, the EQ that helps focus on being perceptive of situations.
Want to learn more about success? IF YOU ARE NOT IN CONTROL OF THE SUCCESS IN YOUR LIFE: IT’S TIME TO BE ACCOUNTABLE