Intelligence Is Overrated: What You Really Need To Succeed

Keld Jensen, Contributor, Forbes Magazine

Albert Einstein’s was estimated at 160, Madonna’s is 140, and John F. Kennedy’s was only 119, but as it turns out, your IQ score pales in comparison with your EQ, MQ, and BQ scores when it comes to predicting your success and professional achievement.
IQ tests are used as an indicator of logical reasoning ability and technical intelligence. A high IQ is often a prerequisite for rising to the top ranks of business today. It is necessary, but it is not adequate to predict executive competence and corporate success. By itself, a high IQ does not guarantee that you will stand out and rise above everyone else.
Research carried out by the Carnegie Institute of Technology shows that 85 percent of your financial success is due to skills in “human engineering,” your personality and ability to communicate, negotiate, and lead. Shockingly, only 15 percent is due to technical knowledge. Additionally, Nobel Prize winning Israeli-American psychologist, Daniel Kahneman, found that people would rather do business with a person they like and trust rather than someone they don’t, even if the likeable person is offering a lower quality product or service at a higher price.
With this in mind, instead of exclusively focusing on your conventional intelligence quotient, you should make an investment in strengthening your EQ (Emotional Intelligence), MQ (Moral Intelligence), and BQ (Body Intelligence). These concepts may be elusive and difficult to measure, but their significance is far greater than IQ.

Emotional Intelligence
EQ is the most well known of the three, and in brief it is about: being aware of your own feelings and those of others, regulating these feelings in yourself and others, using emotions that are appropriate to the situation, self-motivation, and building relationships.
Top Tip for Improvement: First, become aware of your inner dialogue. It helps to keep a journal of what thoughts fill your mind during the day. Stress can be a huge killer of emotional intelligence, so you also need to develop healthy coping techniques that can effectively and quickly reduce stress in a volatile situation.

Moral Intelligence
MQ directly follows EQ as it deals with your integrity, responsibility, sympathy, and forgiveness. The way you treat yourself is the way other people will treat you. Keeping commitments, maintaining your integrity, and being honest are crucial to moral intelligence.
Top Tip for Improvement: Make fewer excuses and take responsibility for your actions. Avoid little white lies. Show sympathy and communicate respect to others. Practice acceptance and show tolerance of other people’s shortcomings. Forgiveness is not just about how we relate to others; it’s also how you relate to and feel about yourself.

Body Intelligence
Lastly, there is your BQ, or body intelligence, which reflects what you know about your body, how you feel about it, and take care of it. Your body is constantly telling you things; are you listening to the signals or ignoring them? Are you eating energy-giving or energy-draining foods on a daily basis? Are you getting enough rest? Do you exercise and take care of your body? It may seem like these matters are unrelated to business performance, but your body intelligence absolutely affects your work because it largely determines your feelings, thoughts, self-confidence, state of mind, and energy level.

Top Tip For Improvement: At least once a day, listen to the messages your body is sending you about your health. Actively monitor these signals instead of going on autopilot. Good nutrition, regular exercise, and adequate rest are all key aspects of having a high BQ. Monitoring your weight, practicing moderation with alcohol, and making sure you have down time can dramatically benefit the functioning of your brain and the way you perform at work.

What You Really Need To Succeed
It doesn’t matter if you did not receive the best academic training from a top university. A person with less education who has fully developed their EQ, MQ, and BQ can be far more successful than a person with an impressive education who falls short in these other categories.
Yes, it is certainly good to be an intelligent, rational thinker and have a high IQ; this is an important asset. But you must realize that it is not enough. Your IQ will help you personally, but EQ, MQ, and BQ will benefit everyone around you as well. If you can master the complexities of these unique and often under-rated forms of intelligence, research tells us you will achieve greater success and be regarded as more professionally competent and capable.

What is Your Business Why?

One of the most difficult concepts to understand when you are at work is: it is not about you. Whether you work for someone else or you own your own business, the quicker you take your ego off the playing field, the sooner you will meet Success.

Ego tells you that you know best. Ego also whispers to you that you are right. Or, that your products and services are the best that are available.

One way to shut the door on Ego is to always turn questions like, “What do you have to offer?” away from I and back onto the other person. Instead of answering, “I can do this…” or “We are experts at…” Answer the question with another question that focuses back on the customer. For example, “What are you looking for today?” or “What is it you need?”

As you read this article and are checking in on your why, first ask yourself where you find your inspiration and motivation. Is it internal or external? When you begin to notice your motivation waning, there are two very important questions to ask yourself to find renewed energy. They are:

1. Why are you in your current line of work?

2. Why do you believe in your business?

Give yourself time and space to linger over these questions, and see what answers bubble to the surface.

Are the answers I statements? Or do the answers explain what gives you purpose in life? Chances are if your answers involve your ego, rather than how you are helping customers or clients find what they need, then this is why it feels like your motivation has dried up.

If you want to make the switch from self-centered living, to one where you are more connected and in-sync with others, then you can change by asking yourself, “Why are you in ____ business?” When you truly believe that your services and products increases other people’s quality of life, then your consumers will notice this change.

When your products and services are making life easier for your buyers, then there is an inexhaustible amount of energy. Why is there no end to the energy? It’s because your value and belief system are tied into something greater than yourself. When you are excited about what there is to offer to others, the emphasis is placed on customer satisfaction not you.

And, the easiest way to re-center is to remind yourself when doing business that it’s not about you. It’s always about the other person. If you can enhance the customer’s experience, answer their needs, and make them feel satisfaction then Success will find you, and perhaps repeat customers as well.

Lyndsay Katauskas, MEd
Mars Venus Coaching
Corporate Media Relations

Why Promoting From Within Usually Beats Hiring From Outside

Susan Adams, Forbes Staff  4/5/12

This week The Wall Street Journal wrote about an intriguing new study looking at the cost of hiring employees from the outside, versus promoting from within. The study is by Matthew Bidwell, an assistant professor at Wharton who focuses on patterns of work and employment. Bidwell was interested in the 30-year-old trend of workers jumping from one employer to another multiple times in their careers. Bidwell says there’s not much data on the costs of job-hopping. He suspected that employers didn’t realize how much more they were paying to bring in workers from the outside.
Indeed, Bidwell found that not only do external hires get paid more, but for their first two years on the job, they receive significantly lower marks in performance reviews. External hires are also much more likely to get laid off than are those promoted from within. Bidwell scrutinized seven years of employee data, from 2003-2009, from the U.S. investment banking unit of a financial services firm, which included information on 5,300 employees in multiple jobs, from traders and research analysts to support staff. He also examined data from another investment bank and a publishing company.
The external hires made 18% more than the internal promotes in the same jobs. In addition to scoring worse on performance reviews, external hires were 61% more likely to be fired from their new jobs than were those who had been promoted from within the firm. The external hires tended to have more education and experience than the internal hires, but Bidwell says employers don’t appreciate how important it is for workers to know the ropes of an organization. “People don’t hit the ground running on day one,” he says. “We have relationships in organizations that are key to getting work done and a set of structures and routines we need to know.” Knowing where and when to file papers, for instance, or whom to ask about approving a project, can make work much more efficient.
Employers underestimate the time it takes for workers to get up to speed, says Bidwell. After two years, the performance reviews of the external hires caught up to the internal promotes. But sometimes an employee has already moved on, or gotten laid off, before hitting that mark.
Bidwell’s study was recently published in a journal called Administrative Sciences Quarterly. After he finished the study, Bidwell says he did some further analysis, of how people in a particular unit were affected by an external hire. Because everyone had to work to bring the new hire up to speed, the performance of the whole unit declined. The silver lining for workers is that bringing in an employee from the outside also tends to raise the pay for everyone in the unit.
In his paper, Bidwell references the work of Harvard Business School professor Boris Groysberg, who published a well-received book two years ago about what happens to star investment analysts when they switch firms. In Chasing Stars: The Myth of Talent and the Portability of Performance, Groysberg examined the careers of more than a thousand top analysts and found that in most cases, those who change firms suffer an immediate and lasting decline. It turns out that their strengths depend to a large extent on their former firms’ resources, networks and colleagues. There were exceptions, like when the stars moved together with their teams, or they switched to much better firms. Also exceptional women tended to do better after a switch than did men. But most top analysts performed much worse after changing jobs.
Hiring professionals should consider both Groysberg and Bidwell when deciding whether to bring in new blood. It can be tough to resist the allure of a superstar, and it’s challenging for companies to build up a pipeline of employees who are suitable for promotion. The mobile American workplace will likely only become more fluid. But managers should know that there is a cost to bringing in talent from the outside and that it pays to nurture and promote from within.

Five Reasons Baby Boomers Need To Review Estate Plans (And It’s Not About Taxes)

Kaycee Krysty, Forbes Magazine  3/29/2012

Conventional wisdom has it that baby boomers are about to receive one of the largest waves of inheritance in history. But in a recent speech, “Capacity for Care: Today, Yesterday and Tomorrow,” Paul G. Schervish, Boston College professor and renowned researcher on wealth and philanthropy in America, made a startling pronouncement: Boomers will give away much more than they receive.

That’s a call to action to review our estate plans. Wills, trusts and other documents put in place years ago may no longer reflect who you are, what you care about or what you have today. With so much at stake, being intentional about who gets what is more important than ever. It’s not about our parent’s generation anymore. It’s about us.

In fact, Schervish’s remarks really hit home for me. Just before our recent trip to Hawaii, my husband Michael and I suddenly discovered that although we had talked about changes in our plan, we had never gotten around to communicating them to our attorney. Yikes! We found in our file notes about possible changes and marked up old documents, but no new ones. You can bet that this resulted in a flurry of activity before we got on a jet to fly over the ocean.

As I looked over those changes I was struck by how different our thinking is now, in our late 50s and early 60s, than it was the last time we tackled these issues.
In midlife planning tends to be mainly about making sure your affairs are in order and leaving enough for those left behind. If you have kids, their needs are front and center. Now, as boomers enter into transition, new perspectives and different priorities emerge. Today, it’s more about you, your security, and your legacy.
Here are five things Michael and I noticed as we completed the exercise with our attorney. Perhaps some of them will fit for you.

1. Relationships change. Perhaps you left money to people or gave them responsibilities that no longer make sense. Say your connection with these people isn’t what it used to be. Or maybe they no longer need your help. That is an important reason to change your plans. Do you have the right people in place?

2. Kids grow up. You may find that your old documents are laced with protective measures for children who were still minors. Now that they are young adults, you know a lot about their character. With luck, they are fully launched in their own lives and careers, or close to it. Are those protective devices still required?

3. You know a lot more about your health. For better or worse, as we age our physical future becomes more apparent. In addition, medical science has greatly advanced in its predictive ability. You might have more information than you had 10 years ago to consider the future–and it’s not just death to be thinking about. Have you made provisions for a time when you may not be able to think for yourself?

4. You have more, less or different stuff. Personal property, as attorneys like to call it, tends to accumulate. You might be surprised at the sentimental value your family members place on some of your belongings. It is still true that families go to war just as often about Aunt Millie’s teapot as they do about money. You can avoid that by making some simple decisions and putting them in writing. Decide who gets what.

5. You are thinking about your legacy. The reality is that in order to leave a legacy you need to live it, and that could mean using some of your financial resources now. The older you are the more financially feasible it becomes to give things away during your lifetime, whether it’s to charity or to the people you care about. At 50 you were holding on for dear life to be sure you have plenty for retirement. At 70 those concerns change. Should you consider making some lifetime gifts, rather than waiting until the end?
Even if none of these issues fit your situation, you still may want to change something. Estate planning is a discipline where the state of the art changes constantly. There are new tools and techniques available; you may actually be able to simplify your plan. Our will was several pages shorter this time around–always a good thing in my book.
As stressful as this subject can be, Schervish leaves us with a comforting thought. What he calls the “post-boomers”–ages 28 to 45–are in better shape financially than we might think. Adjusted for inflation they have a greater level of wealth than boomers did at the same age. He also notes that they may be more financially careful since “they envision a longer lifespan and have faced the forces of financial insecurity since the 1999 recession, the bursting of the tech bubble in 2000, and the attacks and aftermath of 2001.”
The bottom line for boomers? Take care of yourself. Think about your legacy. The kids will be all right.

Hitting Rock Bottom at Work and Surviving

It’s rare today that your first job is also your last job. In the course of many people’s careers, as they gain time and experience, their positions change. Increased responsibility in most cases should mean increased pay. It can be tricky identifying a good time to move to a new position. If we’re fearful of the change, sometimes it takes hitting rock bottom, sometimes repeatedly, before we wake up and choose to be survivors and not a victim. How do we go from hitting rock bottom to surviving?
A lot of it lies in our perspective, how we internalize change, and how we incorporate our growing pains into the fabric of our lives. We can always increase our resiliency, or our ability to bounce back despite setbacks.
Our lives are such a kaleidoscope of colorful events if we choose to see it this way. It’s easy to focus on the pain, on what’s not going right. The real test of our character is our ability to face setbacks, discomfort, and failure and see it for what it is—find the lesson learned in the experience, and move on to better things as a more humble and compassionate person.
When we are at the bottom looking up we often feel alone and unappreciated as we wonder if anyone cares about us or sees the pain through our tight smiles. Sometimes we ask ourselves what the point of going on is if we feel like our work isn’t valued. If we’ve royally screwed our personal relationships up (or lack thereof) by putting our job ahead of what’s really important to us, then it really can make us question the worth of our lives. Sometimes we hit rock bottom, because we no longer are interested in our job. We could be worn out or stressed to the max. What may really be going on is that we’re ready for a change. We’re having trouble finding purpose in what we do for our job. And we think that holding on to the way things are will keep things the same. However, when we resist change and hold on so tightly to the past or the future, we lose sight of what we’re doing in the here and now.
I have found throughout the years that a storm always precedes a fresh new beginning. Always.
When I find myself blocked or resisting a change with my job, it’s usually because I’ve outgrown the job. I’m ready for a new challenge—whether it’s more responsibility or a new career field. If I find myself anxious or dreading going in to work a storm is definitely brewing. Are you there right now?
Why not try identifying the why behind the pain, discomfort, boredom…the sooner we’re able to move past these negative feelings and beliefs, the sooner our next job will surface.
Hitting rock bottom means the only way to go is up. That we’ve outgrown the current experience and our soul is yearning for something more, something bigger, and something beyond our current situation. So ask yourself what you truly long for and how you can do something right now, today that will get you one step closer to that longing.
Step a little outside of your comfort zone.
Enlist the aid of someone with the experience and willingness to be a safe place that you can be vulnerable and explore what it is you really want.
You are definitely worth it—and the people whose lives you touch in your job will be profoundly affected by your interactions when your job is your passion. Who knows, your relationships may just fall into place as well. When you value your worth, and recognize the tenuous web that intricately spins us all together it will begin to make sense the sooner you work past the pain, longings, and yearnings, you will find happiness, compassion, and success in pursuing your passions.
Lyndsay Katauskas, MEd
Mars Venus Coaching
Corporate Media Relations