From IQ to EQ: Importance of Both for Entrepreneurs Running a Startup

Intelligence quotient or IQ used to be considered as the key to success in life. However, psychologists considered it as a very restricted parameter to evaluate the ability. In 2009, American scientist Daniel Goleman proposed in his paper “Emotional Intelligence: Why It Can Matter More Than IQ” that there is an equally significant form of intelligence known as EQ. Since then, there have been numerous debates over whether IQ or EQ is more important, but it’s like choosing between your heart and your lungs: they are interrelated in a way that cannot be separated. In this article, we will explain the importance of both for entrepreneurs running a startup.

Just Two Letters, But So Important

IQ stands for Intelligence Quotient and it is used to assess the individual’s maturity and the ability to solve problems. Emotional Quotient, or EQ, is the capacity to understand and differentiate personal and other people’s feelings.

IQ affects school grades, university, and, in the long run, employment. After this stage, the relationship between mental intelligence and success becomes less clear. However, do not underestimate the significance of intelligence because any work implies certain knowledge and skills which, directly or indirectly, refer to those IQ scores, especially in the case of the entrepreneurs running a startup.

Some “reputable” websites provide an opportunity to determine the IQ level. One problem, which is typical for the majority of such tests, is that they are developed by non-specialists. However, a few good websites exist, start your test right now here https://cerebrumiq.com/start/.

The Significance of Balance Between IQ and EQ

The development of IQ is at its final stage during adolescence. However, EQ is a very flexible concept and changes over time. In his book The Other Kind of Smart, Harvey Duchendorf tries to explain the link between these things by referring to a race car. To him, the car is an embodiment of how we navigate through life. The engine and its parts are the representation of our IQ. A racer is the EQ. If we are lucky enough to have a powerful vehicle with a good racer, we can succeed.

Everyone knows that there are people with high IQs who do not get good results because they are unable to behave logically. We also know individuals who have low IQs but are still able to live a successful life. When IQ and EQ are added together the outcome is a powerful sports car with a highly skilled driver. This is a great benefit. Therefore, for the owners of startups, IQ and EQ indicators are critical in determining the extent to which they can effectively and in unison construct their businesses.

How to Determine Your EQ

There are EQ tests available, but don’t trust them too much. Instead, analyze your behaviour. It is worth thinking about low EQ if you:

• Constantly resentful and do not know how to forgive others;
• Often think you’re misunderstood;
• Can’t handle stress;
• Don’t know what you’re feeling or why you’re feeling it;
• Criticize others and argue ineffectively;
• Afraid of change and take a long time to adapt to new things.

Expert Opinions

Daniel Goleman believed that IQ determines job opportunities while EQ determines career success. After demonstrating the necessary technical skills, an employee’s ability to interact with others determines their next steps. Daniel Kahneman, a Nobel Prize-winning psychologist, believes that we prefer to buy something more expensive from someone we trust.

Our interactions with other people have a significant impact on the quality of our lives. Understanding our emotions allows us to use them effectively to form strong emotional bonds with others, resulting in rapid personal and professional development.

“The most significant impediment to our success and self-actualization is our brain. When times are tough, our emotions go on autopilot, and we waste resources on harmful behaviours and habits. You simply need to shift your focus, and the results are immediate”

It says Mike Goldman, a leadership coach and author of several books on personal development. He suggests that it is EQ that is important for a shift in focus.

Conclusion

The combination of high IQ and EQ is the primary key to success for entrepreneurs running a startup. Such a person can easily deal with stress at work, effectively resolve conflicts, and obtain accurate information and actions from coworkers. EQ can be developed in three steps: regularly recording your emotions, understanding the reasons for your feelings, and using methods that either calm you down (breathing, meditation, walking) or energize you (sports, dancing, loud and cheerful music). Things are a little more complicated with IQ, but it is also a trainable indicator. In any case, it is important to remember that often the winner is not the one who has a better car, but the one who knows how to drive it better. Remember it.