Day: September 15, 2021

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Emotional Intelligence and Business Development

Judging from my short stint as an associate at a business development firm, this industry is not for the introverted or antisocial. It requires, most principally, the ability to communicate and connect with people across different sectors and over different platforms. If you’re unwilling to do so, you probably won’t make it very far. The business development industry is fundamentally an industry of connections. Thus, successful examples of business development most often come from people willing to engage with others. 

But, there are millions of extroverts around the world, so what separates the best communicators from the average? The answer: emotional intelligence. Naturally, everyone would like to think that they’re as emotionally intelligent as they can be and that they possess all the skills necessary to be a great communicator. In many cases, unfortunately, their self-images are overstated. True emotional intelligence is not only the ability to read, understand, and react to other people’s emotions, but it’s the ability to analyze your own emotions and reign them in or properly convey them.

It seems obvious where these skills would play into business development. In an industry where establishing relationships and networking is paramount to your success, a high level of emotional intelligence is almost a shortcut to the finish line. So shouldn’t a skill that can minimize miscommunication issues, endear you to a necessary business connection, and help you analyze your own goals be developed as much as, if not more than any other skill? I think so.

If you choose to believe that emotional intelligence is a quality that is necessary to successful business relationships, then you might also be wondering how you can improve it. I have found that the best way to develop your emotional intelligence is practice. Make more deliberate efforts to reach out to potential connections, have more coffee chats, attend more conferences. And, while you do so, be mindful of your own behavior. Take note of how you phrase things, make an effort to show that you’re listening, even making eye contact will help you better understand your counterpart. The misconception that emotional intelligence is simply the ability to read others is where most people fall short. Self-awareness is key to productive relationships, and it needs to be a quality more present in the business world. 

Emotional intelligence is an important part of Bizydev’s approach to their service. We maintain that sincere, mutually beneficial partnerships are key to business growth in any industry. By ensuring that our relationships and the relationships that we help establish between other firms are conducted with a high degree of emotional intelligence, we are setting ourselves and our associates on a path to success.