Emotions can blind people when it comes to making rational decisions, but a high level of emotional intelligence can change that. Many successful individuals, such as entrepreneur Semion Kronenfeld, possess a high degree of emotional intelligence and use that to guide their business decisions. While this form of intellect is something that comes naturally to many, others can hone it as a skill.
What is Emotional Intelligence?
Emotional intelligence is, essentially, awareness and control over your emotions. Everybody can be influenced to make a rash decision if they are upset or angry, and they can be swayed toward sympathetic action if they feel happy or sentimental. Emotional intelligence is the ability to recognize what emotions are affecting your thinking and determine whether they need to be reined in or not. For example, if a long wait has you impatient, you are more likely to snap at people or rush through a project without taking the steps you normally would. Someone with high emotional intelligence would recognize their feelings of irritation and adjust their course of action accordingly.
How to Develop Emotional Intelligence
Even those like Semion Kronenfeld who begin life with a high degree of emotional intelligence have to hone and develop those skills to achieve success. You can work on your emotional intelligence by practicing awareness of the situations around you. When a stress reaction happens, take a moment to consider your state of being before you react. Are you angry? Scared? Elated? How might those emotions influence your reaction? Note that it is okay to use your emotions in responding to situations around you, but emotional intelligence allows you to understand why something is happening rather than directly serving your whims. The more mindfulness you practice in this regard, the higher your emotional intelligence will be.
Emotional Intelligence and Problem Solving
One way in which emotional intelligence impacts decision-making is by aiding in complex problem-solving. Those who possess a high degree of emotional intelligence can examine a problem not only from a logical perspective but also from an emotional one as well. This allows them to judge how emotions might play a role in bypassing or creating obstacles. For example, you might plan something to boost morale and give a surge of energy at a particularly difficult point in a project. Alternately, you might foresee a way in which a relatively simple task might cause irritation and make an employee less productive. Understanding the people behind a project aids greatly in problem-solving.
Emotional Intelligence and Objectivity
Sometimes, emotions can impact the way we see a problem or its solution. A decision made in the heat of the moment can lack perspective, either being much simpler or much more difficult than initially anticipated. Successful businesspeople like Semion Kronenfeld rely on their emotional intelligence to remain objective when making major decisions. For example, if an employee makes a critical mistake on a major project, you might feel the need for severe punishment, possibly even a termination. While this may be necessary for somebody who makes many critical mistakes, a person with high emotional intelligence can look at the big picture and offer forgiveness instead of reprisal if the employee is usually reliable.
To follow in the footsteps of business greats like Semion Kronenfeld, you need to possess a great deal of emotional intelligence. Make this a focus if it is a weak spot in your personality. The better you understand people and their emotions, including your own, the farther you will go in the business world.