Entrepreneurs literally make the world go round; they create value from organising human and material resources with the hopes of profits and other business goals. In embarking on this quest, they invariably create solutions in exchange for compensation from users and other stakeholders. This introduction is very important in highlighting the important role entrepreneurs play in defining the world.

Whilst business intelligence is quintessential to the making of successful entrepreneurs, one of the skills necessarily for effectively managing people and material is emotional intelligence. No matter how successful an entrepreneur is, the introduction of emotional intelligence will exponentially increase desirable outcomes. This is because emotional intelligence makes you aware of yourself and others – when that happens demand and supply becomes a natural consequence.

Entrepreneurs are always on the prowl, looking for gaps in the market – what people need. Daniel Goleman's five components of emotional intelligence speaks directly to the entrepreneur’s need to weaponise market intelligence: self-awareness – the ability to understand your own emotions and how they affect the people around you, self-regulation – the ability to effectively manage and express your emotions, intrinsic motivation – one's personal drive to improve and achieve, empathy – the ability to understand how others are feeling and social skills – the ability to develop a strong rapport with others.

In this episode, we explored some reasons entrepreneurs must master emotional intelligence to drive increase profitability.