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  • Writer's pictureSylvia Huang

IQ vs. EQ, which is more important in running a business?

#asksylviah: IQ vs. EQ, which is more important in running a business?

The answer is both and more.

To start, run, and scale a business with ease and flow, the business owner needs to be equipped either by themselves or by a team of staff, consultants, coaches, mentors, or advisors, with a high IQ, EQ, and FQ.

Intelligence comes in many forms and today we’re going to look at the three types of intelligence that can massively help your business to launch and flourish.

Let’s begin with the most expected form

- IQ (intelligent quotient). You don’t have to be scored like a genius on an IQ test such as Mensa to be successful in business. IQ for business (a.k.a business savviness on what it takes to drive your business success) can be contributed by your or your team of internal and external helpers’ skills, expertise, insights, and commercial acumen.

Next, let’s discuss EQ (emotional quotient).

To lead, manage, and inspire yourself and your team daily, a high EQ will help you navigate times of opportunity, change, growth, stagnation, conflict, disengagement, confusion, and more.

The better you are with people, the more you expand your circle of influence beyond your immediate network to rally talents and helpers

to support your entrepreneurial vision.

Lastly and equally critically as the business, is FQ (financial quotient). Cash is king. For your business to

not just survive but thrive, cash flow management and strong financial management of your business are key. Personally, I’ve seen through my work at BizPay that suppliers enjoy over double-digit sales growth simply by deploying our pay in 4 solution to enable their clients to pay over four months while they get paid in 24 hours.

At the end of the day, to manage a business well, it’s not whether you have a high IQ, EQ, or FQ, the winning formula isn’t about you personally scoring high on all three. It’s about who you team up with or recruit to resource your business with the necessary forms of intelligence to keep it going and growing.

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