Emotional Intelligence in the Family Business

Emotional Intelligence in the Family Business

Emotional Intelligence in Family Businesses_HR Blog Empresas Familiares Mexico Reclutamiento_CR-40Imagine a world where you couldn’t understand when a friend is feeling sad or when a co-worker is angry. It would probably be very chaotic. The ability to understand and control our emotions is called “emotional intelligence” and is a crucial factor in determining success.

Years of research have now pointed to emotional intelligence as the decisive factor that sets star performers apart from the rest of people. This kind of intelligence refers to that “something” that affects how we manage our behavior, how we navigate through social situations, and how we make personal decisions. In general, it is said to include:

  • Emotional Awareness: the ability to identify your own emotions and the emotions of others.
  • The ability to harness emotions in order to apply them to tasks like thinking and solving problems.
  • The ability to manage emotions: to regulate your own and to cheer up or calm down another person.

EI in Family Business
People who are emotionally aware have the ability to reduce conflict and build long lasting relationships. These qualities are favorable in all kinds of businesses, but especially to family businesses, where the line between personal and professional matters is hazy.

Being an emotionally intelligent leader, will not only help you draw the necessary lines to efficiently separate business from family, but will also help you improve attitudes and motivation among members. The results will be reflected in higher performance, more productivity, and more collaboration within the company.

Communicate Effectively
Entrepreneurs who are emotionally intelligent excel at communication skills. Whatever is that you speak, more than the words you say, is your tone and body language what will determine the effectiveness of your communication. Although tone is largely attributable to the interpretation of others, self-awareness plays an important role. Imagine you are on the phone with a customer, your tone will be polite and guarded, right? Now, imagine you are speaking to a family member, how is your tone? It is important to pay closer attention to your communication, keep it as polite and guarded with both family, and non-family members.

Influence Others Positively
Being emotionally intelligent includes your ability to influence others in a positive way. Often, people who claim to be “leading” the family business, only strong-arm their loved ones into performing roles and responsibilities they are not comfortable doing. Being emotionally intelligent will help you detect these disparities and empower and motivate them instead, with your vision and ideas. Your family will be more productive if they feel motivated and understood.

It has been tested that emotional intelligence is the strongest predictor of performance, explaining a full 58% of success in all types of jobs. In general, emotional intelligence has an undeniable impact in your professional success, especially in family business. It is a powerful way to direct your energy into the right decisions. Subscribe here to learn more about family businesses.

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