Is Emotional Intelligence Really Important?

 

What is emotional intelligence? The term was first used in 1990 by Peter Salovey and John Mayer, American psychology professors. Emotional intelligence (“EI”) refers to the ability to identify and manage one’s own emotions, as well as the emotions of others. Have there ever been times in the workplace when you simply wanted to lash out or scream ? Of course there have, many times if you’re like me. However, it is how we channel that energy that makes the difference.

According to Psychology Today, EI is said to have three skills: (1) emotional awareness; (2) the ability to use your emotions in a productive manner – such as problem solving; and (3) the ability to manage emotions – such as regulating your emotions and helping others to do the same.

Back in the late 1990’s I watched an interview with Bill Romanowski, former NFL linebacker. I heard him say something that has stuck with me since. He said “emotion high, logic low.” If you are extremely emotional about something, are you able to logically process information associated with that particular situation? No, you are not. Conversely, if your emotions are low, your ability to process information and make productive decisions increase significantly. I think Mr. Romanowski was on to something very profound.

Is EI important? Yes. Why? Because when we have high emotional intelligence we are able to communicate more productively and make better decisions. That leads to a more productive workplace, better relationships, and a happier life!

As always, thanks for reading!

- Jeff Newkirk - Blanton Advisors Associate CFO, Executive Coach

“Comes in pretty handy down here, bub.” Money that is.

For those who have seen the Christmas classic It’s a Wonderful Life, do you recall the scene where George Bailey is talking with his guardian angel, Clarence? George needed $8,000, but Clarence didn’t have any money on him. He was an angel after all. He didn’t carry cash. Well, we probably all feel a little like George Baily right now. We could certainly use some money. As a business owner or organizational leader, we need to be in full scale leadership mode. This includes knowing how your business is functioning today, right now. In Tilman Fertitta’s recent book, Shut Up and Listen!, Mr. Fertitta recommends that we must know our numbers. We need to know if we have money. That’s the only way we can know exactly how the business is doing, the only way we can know how to make good, meaningful, and long-lasting decisions. Now, what numbers is Mr. Fertitta referring to? Every business is different, but every business needs money to survive.

Here is today’s directive… know your numbers. Conduct a review of your financial statements – income, cash flow, and balance sheet. Answer these questions: What is your net profit? What is your gross revenue? What is your cash balance? What was the increase or decrease in cash from last month and last year? Do you have more assets than liabilities? Compare today’s statements against last month and last year. This is your big picture. Next step is to dive into the details. 

By Jeff Newkirk - Blanton Advisors, LLC Associate CFO & Executive Coach