There's a lot of brilliant and skilled people that haven't reached professional success, and there are some others that are very successful but not necessarily have the most talent. Have you ever wondered why that happens or where the difference lies? Emotional intelligence might have a lot to do with it.
Emotional intelligence is a person's ability to accurately discern, understand and manage their own emotions as well as the emotions of others, as described by the Harvard Business Review. Being emotionally intelligent means being able to analyze people's feelings and choose the best way to react to them.
As a business owner, the way you react to emotions can have a significant impact on your business. People that have a higher level of emotional intelligence have proven to make more money than others with a lower degree of emotional intelligence. Enterprises managed by people with higher emotional intelligence have shown an increase of 22% in their annual profit, and also 90% of top performers have a high degree of emotional intelligence.
When you have a strong emotional quotient, you develop certain traits that are essential for success:
Analyzing and understanding your strengths, weaknesses, and emotions makes it easier for you to own up to your mistakes and learn from them, which can have an impact on your performance.
Reading into people's emotions and wisely choosing the best actions and words to use in a given situation, based on that, are a great asset, especially when managing teams or dealing with clients. It allows you to communicate more effectively and be better at problem-solving.
Great team players are likable and friendly. Emotional intelligence helps you develop the social skills needed to give your relationships with others the right balance between fulfilling their needs and getting the job done. That helps strengthen your relationships with your clients and promotes customer loyalty.
Emotional intelligence is essential to reach success as an independent insurance agency owner. As you start your own business, ask yourself: do I have a high degree of EQ? If your answer is no, you just found something to work on.
