You Need EQ to Successfully Run the Best Franchise or Startup Anywhere

Any successful entrepreneur, whether he runs a startup or the best franchise venture in his locale, needs to have several personal qualities to succeed. Some are almost automatic: the ability to adapt, the determination to go on, and an unparalleled work ethic, to name a few. However, there is one specific characteristic which demands a second glance: emotional intelligence, otherwise known as EQ.

When the concept of EQ was first introduced, it served as some sort of “missing link” in terms of gauging performance: one particular study found out that when it comes to EQ, people with average IQs bested those with the highest IQs 70 percent of the time. Once revealed, what people believed as the sole source of true success—pure, unadulterated IQ—turned out to be inadequate in defining what a successful person really is.

But first of all, the question is begged: what is EQ anyway, and what is its significance to people’s everyday lives? Experts define EQ as one’s ability to perceive, control, and evaluate emotions. It affects how a person manages behavior and dealings with social complexities, and also helps in making decisions that end up positively. EQ relies on four main concepts: accurate emotional perception, logical reasoning, empathy, and sound emotional management.

In business, EQ plays a massive part. It involves being very sensitive and perceptive of others’ feelings, and having the ability to lead and make advantageous decisions based on that knowledge. Take this situation: managers with excellent EQ tend to perform supervisory tasks with a focus on effective communication with team members, as well as treating everyone with respect. As a result, they’re pretty well-received. Try to put an authoritarian manager in the fray who makes decisions based on logic alone, and the results would likely be different.

Why? It’s because humans are biologically hardwired to not be empathetic and logical at the same time. A study once published in the journal NeuroImage identified two distinct pathways alternately used for empathetic and analytic solutions. It’s the answer to why we see some company head honchos make technical decisions which make a lot of sense in terms of earning profit, but none at all in terms of understanding human consequences.

So if you’re off to run a startup or what locals consider the truly best franchise in town, have both IQ and EQ by your side. In turn, you’ll be reaping all the rewards from using both. Learn more by visiting entrepreneur.com/article/241998.

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