EQ, Active Listening & Risk Authentication. Improving Your EQ and Active Listening Skills Will Make You Better at Authenticating Risk and Closing More.

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Presentation transcript:

EQ, Active Listening & Risk Authentication

Improving Your EQ and Active Listening Skills Will Make You Better at Authenticating Risk and Closing More Deals

Today’s Topics 1.What Is EQ? (And Why Should You Care?) 2.What Is Active Listening ? (And What Role Does It Play in Your Success?) 3.How EQ and Active Listening Help You Authenticate Risk and Close More Deals ?

What Is EQ? (And Why Should You Care?)

EQ Is… Your emotional intelligence quotient (similar to “IQ”) A measure of your ability to: Monitor emotions Identify emotions Use emotional information

Why EQ Matters Emotions contain important information Understanding your client’s emotions can help you interact with them more effectively It can also help you build trust and work with your client to solve their problems.

Business Case: Pepsi EXECS WITH HIGH EQ generated: 10% more productivity 87% less turnover $3.75M more value 1000%+ ROI

Business Case L’OREAL: Salespeople with high EQ sold $2.5M more than others SHERATON: EQ initiative helped grow market share by 24%

Studies Agree Carnegie Institute of Technology : Success = 85% EQ, just 15% hard skills AMADORI (European supplier of McDonald’s): Performance variations predicted by EQ TalentSmart : 90% of top performers have high EQ UMaryland Smith School of Business : EQ may effect profitability by 34%

What Low EQ Looks Like PEOPLE WITH LOW EQ OFTEN FEEL THAT: Others don’t get their point Being liked is over-rated People over-react to their comments or jokes Others are to blame for problems on their team They shouldn’t be expected to know how colleagues are feeling

What High EQ Looks Like HIRING MANAGERS LOOK FOR PEOPLE WHO: Admit, learn from mistakes Take criticism well Stay cool under pressure Control emotions, conduct thoughtful discussions Listen at least as much as they talk!

High EQ Will Help You Close the Deal

What Is Active Listening? (And What Role Does It Play in Your Success?)

ACTIVE LISTENING is the process of fully attending to all parts of someone communication

Parts of Communications What’s said (“content”) What’s not said (“non-tent”) Words Tone of voice Body language

Listening is Hard Our attention span is 17 seconds Your brain is 100 times faster than speech Feelings, assumptions, anxieties can make it hard to concentrate Active listening takes practice

Why Bother Listening? IF YOU’RE NOT ACTIVELY LISTENING, it’s easier to: Listen to the wrong person Misinterpret discussion as a decision Underestimate the importance of objections, ambivalence Not understand the process needed to authenticate and close

Why Bother Listening? IF YOU ARE ACTIVELY LISTENING, it’s easier to: Understand the other person better Improve your overall communication Reduce disagreement and defensiveness Promote mutual trust and problem-solving

3 Types of Listening Focus on yourself Focus on the other person Focus on the environment

Focus on Yourself Quiet your own thoughts and emotions Make eye contact with the speaker (it will help you concentrate on them) Mentally restate what you’re hearing them say If you miss anything, or something seems unclear, ask them to repeat it

Focus on the Other Person Make eye contact with the speaker (to let them know you’re listening!) Make appropriate reactions sounds When they’re done, repeat what you heard out loud Do this until you’ve clearly heard what they were trying to say!

Focus on the Environment What do you hear? Restlessness? Calm? What do you see? Head-nodding? Phone use? Taking notes? What does your EQ say? They’re losing interest? Or: They like this idea!

How EQ and Active Listening Will Help You Authenticate Risk and Close More Deals

Know How to Ask Questions to Help Close

The 3 Types of Questions Open Short Forward-focused

Improving Your EQ and Active Listening Skills Will Make You Better at Authenticating Risk and Closing More Deals

Next Steps

1.Develop your EQ (your Emotional Intelligence Quotient) to better understand your clients and interact more effectively with them, individually and in groups. 2.Practice Active Listening to build trust, get accurate information, and respond to your clients’ real wants, needs, and concerns. 3.Ask more effective questions to improve the dialogue and understand their concerns.

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