True or False: You have to have an IQ of at least 160 to be a success in business.
Enter your answer here: ____
It may just be a combination of IQ (Intelligence Quotient) and EQ Emotional Quotient). “IQ gets you hired, but Emotional Intelligence (EQ) gets you promoted” (TIME, 1995).
According to this one article I came across on medium.com , IQ determines 20% to 25% of business success and EQ determines 75% to 80% of business success. Wow. Who woulda thunk it? Mind you, this particular article relates to management and your chances of getting to the top of the corporate ‘Johnny Pile’, but what about us’ins down here in the trenches? Those of us who don’t necessarily want to climb a corporate ladder, but who want to build a successful business that we run ourselves?
Definition of IQ: Intelligence Quotient
noun (from dictionary.com)
1. an intelligence test score that is obtained by dividing mental age, which reflects the age-graded level of performance as derived from population norms, by chronological age and multiplying by 100: a score of 100 thus indicates a performance at exactly the normal level for that age group.
Definition of EQ: Emotional Quotient or Emotional Intelligence
noun (from dictionary.com )
1. skill in perceiving, understanding, and managing emotions and feelings; awareness of one’s own emotions and moods and those of others, especially in managing people; an awareness of and ability to manage emotions and create motivation
So which is more important? It seems to all boil down to the BIG E – Emotion.
There was a research study done by the Carnegie Institute of Technology, that states 85% of anyone’s financial success is due to skills in human engineering, your personality and communication skills, your negotiating skills, and how well you lead. Technical knowledge (IQ) takes up the other 15%. Go figure. Hmmm… how many nice rich people do you know?
There are five major categories of Emotional Intelligence.
- Self Awareness: How well you control your emotions and/or tune into them
- Self Regulation: How well you avoid letting people push your buttons
- Motivation: How motivated you are and how you set and meet goals
- Empathy: How sensitive you are to others feelings
- Social Skills: How well you communicate
It seems to me, that you really do have to have some level of smarts (at least an average IQ) to get where you want to go. But there is no doubt in my mind, that the more Emotional Intelligence you have, the more you can understand, empathize, and communicate with people you work with everyday. There is absolutely no way you will not be successful if you can get a handle on at least two of the above categories. Wouldn’t you rather do business with a person you like and trust?