Being an entrepreneur is a lifestyle. It requires a specific set of skills to achieve outstanding results and manage changes. Do you ever wonder why some people seem to manage better the challenges associated with entrepreneurship? They have something, right? That something translates in more and better relationships, profitability, productivity, leadership and engagement. But, what is that “something” that they have? Let me tell you…They have a high level of Emotional Intelligence (EQ). EQ is asset of skills that influence the way we perceive and express ourselves, develop and maintain social relationships, cope with challenges, and use emotional information in an effective and meaningful way. Actually, Emotional Intelligence is the foundation of critical communication skills.

Let’s explore some of the skills that successful entrepreneurs have

  • Self-Regard is respecting oneself while understanding and accepting one’s strengths and weaknesses. It is often associated with self-confidence.
  • Self-Actualization is the willingness to persistently try to improve oneself and engage in the pursuit of personally relevant and meaningful objectives that lead to a rich and enjoyable life.
  • Self-Awareness includes recognizing and understanding one’s own emotions. This includes the ability to differentiate between subtleties in one’s emotions while understanding the cause of these emotions and the impact they have on the thoughts and actions of oneself and others.
  • Flexibility is adapting emotions, thoughts and behaviors to unfamiliar, unpredictable, and dynamic circumstances or ideas.
  • Stress Tolerance involves the copying with stressful or difficult situations and believing that one can manage or influence situations in a positive manner.
  • Optimism is an indicator of one’s positive attitude and outlook on life. It involves remaining hopeful and resilient, despite occasional setbacks.
  • Emotional Expression is openly expressing one’s feelings verbally and non-verbally.
  • Assertiveness involves communicating feelings, beliefs and thoughts openly, and defending personal rights and values in a socially acceptable, non-offensive, and non-destructive manner.
  • Independence is the ability to be self-directed and free from emotional dependency on others. Decision-making, planning and daily tasks are completed autonomously.
  • Interpersonal Relationships refers to the skill of developing and maintain mutually satisfying relationships that are characterized by trust and compassion.
  • Empathy is recognizing, understanding, and appreciating how other people feel. Empathy involves being able to articulate your understanding of another’s perspective and behaving in a way that respects other’s feelings.
  • Social Responsibility is willingly contributing to society, to one’s social groups and generally to the welfare of others. Social responsibility involves acting responsibly, having social consciousness, and showing concern for the greater community.
  • Problem Solving is the ability to find solutions to problems in situations where emotions are involved. Problem solving includes the ability to understand how emotions impact decision making.
  • Reality Testing is the capacity to remain objective by seeing things as they really are. This capacity involves recognizing when emotions or personal bias can cause one to be less objective.
  • Impulse Control is the ability to resist or delay an impulse, drive or temptation to act and involves avoiding rash behaviors and decision making.

Each of the above skills play an important role in the achievement of outstanding results in entrepreneurship. How each of them is impacting your entrepreneur’s performance? The development of those abilities could facilitate the management of the emotional roller coaster and challenges associated with the daily operation of a business: …from human resources, sales process, financial decisions, client experience, scheduling, budgeting, project management, change management, risk management, and much more….

The use of emotions to establish of EQ baseline, exploring the impact of EQ in performance and development of an effective EQ action plan are critical steps in an entrepreneur journey.  Remember that set of skills is the “something” that could set you apart.

 Dr. Wanda Bonet-Gascot PhD - President, Life Coach & Project Manager

DrW Life Skills Institute @ UCF Business Incubator

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