Entrepreneurs and setting goals is a popular topic. Dan Sullivan had a perspective worth sharing in the May issue of Success Magazine. The concept is rather than trying to double or 2 times where you are– go for 10 times where you are. “WHAT?” I hear you all scream. “It is hard enough to achieve 2 times where I am, how on earth can I even consider a 10 X goal?” That is exactly the point.

A 2 X goal is really just pushing what you are already planning into the future (assuming you are planning). The ability to achieve the 2 X goal is a probable anyway. There really isn’t rocket science, you know the basics—hard work and you will achieve the 2X goal.

Now for the 10 X goal that starts pushing you out of your comfort zone. I can already feel the squirming. A 10X goal forces you to look at what is really going on in your business. It forces you to look at inefficiencies. It challenges you to think out of the box, to put systems in place to handle 10X, to understand your business, structure your business, and PLAN. You must now think differently, observe differently, plan differently and execute differently. Once you start thinking 10X you will notice opportunities, changes, and perspectives. Then you can start making the changes that are required.

Here are my perspectives and 4 ¾ downsides to this type of thinking:

1. Shooting for 10 X – you might not make it, you might only reach 5X.

2. 10 X thinking creates perspectives on your business and forces planning.

3. You don’t know how to think 10X? What better way to start looking at everything from a different perspective? Read, ask, get advice, reach out to others, be humble. Even if 10X is achieved, I guarantee your 3, 4 and 5X will be more profitable.

4. For 10X I need to look outside the box, and that creates FEAR. False Expectations Appearing Real – so what are your real fears? Figure them out, since they will probably keep you from achieving 2 X. There is no better time than the present.

4 ¾ Reality is I don’t see any downside to 10X type of thinking. The danger really lies in 2X thinking. Thinking too small limits your potential, who you can be, and can lead to my favorite quote: “Hell on earth is seeing the person I could have been!”

Embrace Conflict – it is good for you.

Conflict is part of everyday life. If you have a business, marriage, relationship without conflict then you essentially are an ostrich with your head in the sand, which is the equivalent to being a yes man – which means you agree to things even if you don’t agree to avoid conflict – which is in and of itself conflict. One class I would recommend every business owner take is a mediation or conflict resolution class. There are books on the subject. One is “Getting to Yes: Negotiating Agreement Without Giving In” by Roger Fisher. For me it was a hard book to read – but I really enjoyed it on audio. The sooner you learn how to deal with conflict the better off life will be.

One of my clients was engaged at the time. Life was sweet for both of them. They enjoyed being together, they were obviously in love with each other, yet trouble was brewing. Every time he wanted something and she disagreed, she caved in. This was very evident in the business environment. It had been his business; she was new to his business, yet was very accomplished on her own and actually has better business sense than he did. Yet, what happened every time she suggested something and he disagreed, she would back down, both in business and personal. He even stated that he wondered when she was going to stop becoming so agreeable. It will happen and for both of them it will be a time of rude awakening as neither had really learned how to negotiate. They hadn’t learned the art of give and take and how to move both their ideas forward without squelching the spirit of the other person.

Couple of points on conflict resolution:

1. It isn’t always about getting what you want – learn the art of compromise.

2. If it is all about you – then the “we” part of any relationship won’t be long term.

3. Make sure you get the complete picture – stop assuming – remember what assume means. If you don’t know – then break out the word assume into 3 syllables – you get the picture.

4. Life is about negotiating – learn how to do it well, then apply the same art within your business and within your family.

Curiosity is critical in business. Accepting status quo, what others tell you is right and looking at the world the way everyone else does will and does get you in trouble.

Instead we need to step back and watch a 2 year old. What do they do?

• The explore everything, hold it upside down and look at it in every way possible.

• They challenge what others say and ask WHY? and keep asking WHY?

• “I can do it myself” is their mantra (well maybe we need to moderate that perspective.)

• There is nothing they can’t do in their mind.

• They are ready to take on the world.

Have you lost your natural desire to be curious, ask questions, challenge how others think you should act? If so then stop, slow down and watch a 2 year old. Start exploring your own world. There is so much at our fingertips that passes us by every day.

Curiosity may have killed the cat – but it will grow your business!

Emotional Intelligence is the ability to recognize, understand and use the power of emotions to facilitate high levels of collaboration and productivity. In essence, it is the ability to effectively manage emotions.

Effectively manage emotions ?!?!?!? For many employees, employers, business owners, families the business is run by emotions. Emotions are a God given gift, yet when those same emotions are used as stick the emotional climate of the workplace deteriorates. For many this essentially becomes workplace bullying. Unfortunately many school yard bullies grow up to be workplace bullies. They have not figured out how to utilize the power of emotions in a positive way. Nor have they learned to walk away from situations which create negative consequences.

The resulting affect to the bottom line profitability is absolutely huge – to a level of billions of dollars wasted each year addressing these issues.

Most of the emotions that cause employee performance and then also business performance is anger and fear. These feelings are intense and impact their ability to think rationally. Here are some impacts to the business from the lack of emotional intelligence in the business:

• Creativity shrinks as panic is the enemy of creativity and learning

• Employee turnover goes up due to unhappy employees

• Business growth potential plummets as people lose the courage to speak up

• Cost of recruiting goes up due to training and retraining of staff

• And the list goes on.

What is your emotional intelligence?

Part 2: Building a high emotional intelligent business is well worth the time and effort.

For a starter Being effective  means:

• Understand when and what to say in certain situations.

• Knowing when to stay quiet (yes this is different than the above item.)

• Having empathy for the situation and/or individuals with whom you are dealing. That also means knowing the definition of empathy – so you can have empathy.

• Knowing and having a plan for WIIFM – what is in it for (me/them)

• Using diplomacy. There is a difference between being direct, diplomatic and being candid. Each of them has their place and time. My perspective:

o Being direct is telling it like it is without beating around the bush. There is no roundabout way it is straight through

o Being diplomatic gets the same point across, but there is a ramp up time, setting the stage, understanding where the other party is coming from BEFORE you deliver your message. Diplomacy is critical, yet sometimes the message gets lost in the process.

o Candid includes a level of openness, sincerity, not rehearsed. The message can be direct, yet it also takes into consideration the message and how it will be received.

Here are some practical tips:

• Ensure your leaders have the right emotional behavior

• Always be training on how to improve. You can’t improve your IQ, but you can improve your Emotional Quotient or EQ – so create a plan.

• Have a culture of continuous improvement and get buy in from everyone – or buy out (i.e., a path for them to leave the organization).

• Celebrate success which is the same for all aspects of the business. Too little is done to celebrate and too much focus is on what wasn’t accomplished. This will affect your EQ.

How does this affect profitability? According to John Maxwell, people leave people not companies. A company full of people with no EQ will be a revolving door. There will be a continual hiring process with no one staying long enough to be really good. Therefore profitability suffers due to lack of continuous improvement. One of my clients has had this issue and we continue to work on the impact the lack of EQ has on the organization. Staff is tired, demoralized and looking for opportunities that value them for their work, value them for what they offer and help them enjoy doing their job. If correcting that issues doesn’t improve profitability then give me a call, that is just the tip of the ice berg.

How well does your business understand EQ?