Why emotional intelligence is a key factor when kickstarting your business
Credit to Author: Canadian Immigrant| Date: Thu, 03 Nov 2022 17:41:39 +0000
The idea of diving into entrepreneurship is daunting for many, but the reality is, it can be attainable and a lucrative path to success when you focus on key elements. Inherently, individuals possess entrepreneurship skills, but it is a matter of tapping into them. This requires doing the work most people are uncomfortable with and continuing to challenge yourself to step outside your comfort zone.
When thinking of starting a business or a career change, as a young entrepreneur there are three fundamental steps I have found to help drive success and profitability.. My entrepreneurial journey came from humble beginnings and staying committed to the process proved to be an effective path to achieving success.
Practice networking. Do what 99% of people are not willing to do.
Businesses are built on relationships and genuinely connecting with others. That’s why tapping into your emotional intelligence (EQ) is a meaningful task which contributes towards building strong relationships, achieving career goals and personal fulfillment. People like doing business with individuals and brands they like and share similar values with. This skill set comes with practice and taking the time to find an authentic connection with people you meet. Luckily, people like to talk about themselves. Ask questions, show interest and find similarities. Emotionally connecting will build comfort and trust in your relationships. Even if ethnic barriers exist, it’s important to never put yourself in a victimized state. This will only lead to an unnecessary barrier that can stunt your growth. The more open you are, the more likely you are to discover a shared passion and connection with others. It becomes easier with time, so practice this skill and you will see the results of your efforts.
Access what free time you have to invest in yourself and your business.
When you initially start your business, you likely do not have access to a loan or investors to support you, nor many business connections. With little to no money at your disposal, your biggest asset is your free time. Realistically, you have bills to pay and may need to work while building your business. Since it can take time to generate income and become profitable, it’s important to assess what available time you have to allocate towards developing your business. If you dedicate every free moment, you will see progress. For example, at the onset, using free time to network will help create opportunities in growing your business that didn’t exist before.
Set financial business goals and benchmarks.
It is crucial to set realistic goals and benchmarks for your business, so you have a clear understanding of how you are doing and when to move to the next stage. This starts with defining the service-based business or product you want to sell from the beginning. Getting started with a service-based business requires mainly the dedication of your time and skill set you would like to offer. If you are selling a product, make sure to source an item that requires little to no capital, so you can scale up and grow.
Entrepreneur Josef Azam.
Running a business comes with its challenges and continuously overcoming obstacles. My greatest advice for individuals wanting to become an entrepreneur is to be comfortable being uncomfortable. Sticking through it can bring life-changing rewards and fulfillment. Entrepreneurship is the best way to forge a fruitful path to achieving personal success and financial goals.
Currently, as the CEO and Co-Founder of Design Shopp International, a Montreal-based multinational digital marketing agency, we have generated over 1.5 billion dollars in sales for our clients around the world. Giving back through investing in others and coaching aspiring entrepreneurs by sharing my experience is my greatest mission.
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