Emotional Intelligence In Business.  A Vital Skill For All Financial Decisions!

"And you, of tender years,
Can't know the fears that your elders grew by," Graham Nash

Emotional intelligence in business will be the next installment in our ongoing series of “Teach Your Children Well” pages.  We’ve gone over two major challenges your child’s generation will face.

Those would be an aging population and how to pay for the costs associated with that group.  Those topics were covered in the page about smart goals.

We also gave some background on the massive student loan default problem that is lurking in the background.

Today we’ll go a step further and talk about balancing the emotional side of decision making in business and career planning with the equally important critical thinking side.  I group all career and college planning into the business category because I think it really is business related. 

We'll also offer 5 ways to increase emotional intelligence in business.  We'll draw some information from a book that sort of set the standard for this topic.  Daniel Goleman wrote this book which is simply and directly titled "Emotional Intelligence."

By leading our next generation into an understanding of these principles, they will be better prepared for any situation.

Regardless of the job or career anyone pursues, I feel it is vital that they have some very solid business acumen.  So much of every person’s life involves financial decisions that have long lasting affects and consequences.

Emotional Intelligence In Business Requires Us To Slow Down And Think

I like sports of all kinds so I often use sports metaphors to make a point in content offerings at books-empower.com.  Today I’ll borrow from perhaps the greatest basketball coach of all time.  John Wooden built a legacy at UCLA that will probably never be approached again. 

He was very upfront in his coaching tactics.  So even though the opponents knew what was coming, the challenge for them was to counteract it.  Coach Wooden ran his practices at a frenetic pace so his players would be ready to play the games in the same way.

His famous zone press was designed to get the other team to play at a pace faster than their comfort zone and to make emotional decisions based on that rushed thinking.  Rushed thinking leads to decisions not based on facts and reason, but rather on fear or uncertainty.

Emotional intelligence in business works the same way.  Since you as parents are your child’s most important teacher, recognize that they will very often follow your lead. If they see you taking the time to research a business decision and then carefully weighing the options prior to deciding, they will do the same.  And remember, we consider all monetary decisions as business decisions.  Even if it is only about picking the right life insurance agent.

Teach them to take the emotion out of career planning as well.  While a degree in ancient art history is probably available and might even interest them, is there a need in today’s market for that type of degree?

Teach them to be calculating and dollar focused as they pick a college.  While a well known university may have great dorms and terrific facilities, maybe it is just as good from an academic standpoint to go to a local community college for two years.  Your student will save an enormous amount of money.

He or she will be able to keep more of that salary they worked so hard in college to attain.  With the long list on unknowns in the never-ending debate about health care, they will be better safeguarded from an income standpoint.   Someone has to pay for the provisions in any action that would involve government regulation.

5 Steps to Increase Emotional Intelligence In Business

1.) Work to improve your motivation.  By this we mean to identify what inspires you about what you are doing right now and where it will take you. 

As we wrote in our page about the 7 laws of attraction, by working diligently to always send out positive energy, you will attract like-minded people who will in turn look to you for guidance and very likely help you along your own path to success.

2.) Work on your ability to show empathy.  Become a better listener and look at how others view things.  Are you trying to be right or to do right?  There is a huge difference.  Treat others as you would like to be treated.

3.) Work on improving social skills.  This fits in perfectly with the last step.  As you become a better listener and allow people to offer their viewpoints, you will become known as an effective problem-solver.  Be sure to check out our page about personality types.  Understanding the different types of personalities will set you ahead of most would-be leaders.

4.) Work on improving your self-control.  This is a tough one.  That's why I placed it after learning about different personality types.

Try to wait a little while before making decisions that stem from arguments or confrontational events.  Stay out of workplace or school drama or gossip.  As we wrote in an earlier paragraph, take the emotion out of big decisions.

5.) Work on being aware of your own moods.  Take an honest look at your own strengths and weaknesses.  Be willing to accept advice on how to improve in weak areas.  But also be willing to accept congratulations for a job well done. 

As in the other four blocks in this section, place extra effort into controlling negative emotions.  People follow someone who is positive, confident, and respectful of others around them.

What Qualifies Us As Experts

There is an old quote out there about an “expert” being someone who has made all the mistakes in a certain area, so they know what works and doesn’t work.  Making any decision clouded by emotion is destined to be a failure.  Many of us have made those mistakes in the past.  So now we get to pass along some help to those who will follow us.

Emotional intelligence in business is all about looking in the mirror first.  Recognize how you add value and also what areas need improvement.  Then look around and see how you can lift others with your positive energy and passion.

Passion is a great thing.  Success requires passion.  But business intelligence requires you to properly channel that passion as you focus on the plans to reach those passionate goals.  Plans are in sand.  Goals are in concrete.

“Teach your children well” to research, reflect, and respond rather than react.

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Just below is a quote from "Don't Sweat The Small Stuff" by Richard Carlson.  The chapter title is "Open Your Heart To Compassion." 

"Every day we are given hundreds of opportunities to practice compassion in action.  We can learn to be less reactive and live with more patience.

We can smile when others are serious.  We can drive our cars more carefully, pick up litter on the streets, recycle, and reduce our consumption.

We can resolve conflicts rather than create them, and we can become less judgemental and more inclusive.  When someone is aggressive, we can teach them to be more peaceful.  Instead of waiting for an example, we can be the example.

The more compassion that enters your heart, the happier and more peaceful you will become.  By knowing that you are doing your part to create a better world-whatever form that takes-you will fill any void that exists in your life, and you will begin to find the peace you are looking for."

What's New?

Just below is an article from Peter Schiff about passing the buck from one administration to the next.

Owning The Bubble

Just below is a link to look up your congressional representatives.   Let them know you expect accountability.

Congressional Representative Look Up