Connect with us

Entrepreneurship

Is I.Q. Important In Achieving Success?

Published

on

When it comes to what determines success, many would put their money a high intelligence quotient. There’s no doubt IQ plays a role in academic achievement, but acceptance into an Ivy League school far from guarantees success in life.

CEOs who’ve recruited the brightest graduates become puzzled at the bell curve of performance—after all, shouldn’t all geniuses perform at an elite level?

Not surprisingly, researchers have found that IQ plays a far less significant role in success. It’s these three qualities, under the radar and often overlooked, that make all the difference when it comes to success.

1. Self Regulation

The ability to manage your behaviors consistent with your values and goals. We’re often the biggest stumbling blocks to our own success. The famous Stanford “Marshmallow” study placed treats in front of children and told them they could eat it now, or wait and be rewarded with a double amount. Tracing the lives of the children into adulthood, they found those who resisted performed better academically, earned higher salaries, and were less prone to obesity.

Self-regulation is like a muscle, it can be quickly depleted, but, it can also be exercised and strengthened. Make daily practices of restraining yourself—refuse the desire to get on social media, don’t eat all the food on your plate, or wake up ten minutes earlier in the morning.

Just like the children with the marshmallows, habits in one area of life are contagious.

2. Empathy

Empathy is the ability to put yourself on exactly the same page with whoever you’re engaging with.

Different views typically cause conflict, empathy allows for integration and relieving tension. It’s the difference between “I think you’re wrong” and “I understand where you’re coming from.” The former isn’t bad, but generally absent of empathy; the latter makes for a more constructive and open-ended engagement. And that creates rapport—the magic word for anyone in sales or building relationships.

It’s not a selective trait, the discovery of “mirror neurons” showed the biological ability we all possess to empathize. Watch someone face-plant and you’ll recoil and ‘feel’ their pain.

Emotional awareness is key. Begin to observe your feelings, label them as they arise, describe your experience as if you’re interviewing yourself. As you master and become more familiar with your inner-self, you’ll start to better perceive and intuit what someone else is going through.

Most importantly, empathy shows that you care. Keep the words of Teddy Roosevelt in mind, “People don’t care how much you know until they know how much you care.”

3. Grit

Psychologist Angela Duckworth studied successful individuals at West Point Military Academy, the National Spelling Bee, rookie teachers in tough neighborhoods, and salespeople in private companies. She noted the common factor, “It wasn’t social intelligence. It wasn’t good looks, physical health, and it wasn’t I.Q. It was grit.”

While self-regulation deals with temptations, grit is resilience when faced with adversity either physically and psychologically. It’s a trait synonymous with the “Growth Mindset.”

When wrestling with a problem, a fixed mindset says they’re failing and not cut-out for the job. A growth mindset believes they’re getting closer to the solution and gaining mastery. Professor Carol Dweck’s research shows that the brain develops new neural pathways if it preservers through a problem rather than throwing in the towel.

The culprit is a psychological highjacking—conditioned by the popular notion that talent is inherent and immutable, rather than maleable. Adopting a growth mindset is more than positive thinking, the cognitive shift reduces the body’s stress response. A less stressed person will process adversity more efficiently, and be able to iterate instead of hitting a brick wall.

Cultivating grit takes patience and consistency. But it can be developed from simple daily exercises such as learning to juggle, or taking a cold shower. It’s all about applying the compound effect in finance to all areas of life.

Callum Connects

Agnes Yee, Legal & Compliance Recruiter of Space Executive

Published

on

Agnes Yee started Space Executive in Singapore, which is a hub for businesses in some of the world’s fastest growing economies.

What’s your story?
After graduation, I joined a design media company as a Business Development Executive, during the era when ‘reading a magazine online’ was unheard of. I believe that laid the foundation for being unfazed by rejections.

I fell into recruitment pre-GFC and rode the highs and lows in the early years. A decade later, I decided to set up my own recruitment company, partly because I could. I’m acutely aware of the face that being an Asian female in Singapore is sometimes a privilege, and that many women in the world are living a very different existence.
Thereafter, we joined Space Executive as part of a merger. I am currently the Partner of Space Executive, a recruitment company focused specialist disciplines, including Legal, Finance, Digital, Sales and Marketing and Change. We also run Space Ventures, a venture capital business, which invests in seed and pre-series A businesses.

What excites you most about your industry?
On a daily basis, we’re influencing how one spends a third of their day. It is interesting how the Internet has transformed the industry, and I’m excited to see how we can harness technology to bring us to the next phase of this business.

The VC is an extension of applying our skills and experience in reading people. We very much invest in the people as much as the idea. Being a native Singaporean, it’s been exhilarating watching Southeast Asia becoming a hotbed of ideas; and young entrepreneurs simply daring to dream.

What’s your connection to Asia?
I’m a born and bred Singaporean. I love that I speak both English and Mandarin, grew up playing with Indian friends and eating Malay food.

Favourite city in Asia for business and why?
Singapore for the low barriers of entry to set up a business, but has to be China (and Hong Kong) for their hunger and constant innovation.

What’s the best piece of advice you ever received?
青春不要留白 which translates to ‘Don’t waste your youth.’

Who inspires you?
Anyone who has gone against the grain.

What have you just learnt recently that blew you away?
It wasn’t recent but reading the article on https://waitbutwhy.com/2015/12/the-tail-end.html never fails to blow my mind how little time we have left. Charting our lives in weeks, and realising I only have enough time left to enjoy 60 Christmas turkeys, read 300 books (all if I’m lucky); and mostly, I’m left with the last 5% of the time that I spend in-person with my parents.

If you had your time again, what would you do differently?
I’m cognisant that every decision I made in life has brought me to where I am today, and I wouldn’t change one thing. But I’d really like to have had more time to travel.

How do you unwind?
Exercise and wine.

Favourite Asian destination for relaxation? Why?
Trekking any mountain in Asia. It brings us back to the most basic. To overcome elements of nature and our own mind.

Everyone in business should read this book:
Start with Why, Simon Sinek

Shameless plug for your business:
Space Executive started in Singapore, a hub for businesses in some of the world’s fastest growing economies. We assist organisations in accessing a targeted and specialised, and often times transient talent pool.

Out of Singapore, we have recruited across 14 countries; and have embarked on our global expansion plans with offices in Hong Kong and London this year, and US, Japan and Europe in the following years.

Space Ventures provides funding, management and financial guidance to young businesses with original ideas. We have invested in peer to peer lending platforms, credit scoring, social media education, and other start-ups spanning diverse industries. We are always interested in hearing more about new ideas.

How can people connect with you?
https://www.linkedin.com/in/agnesyee/

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

Continue Reading

Callum Connects

Chrystie Dao-Szabo, Founder of iPayMy

Published

on

Chrystie Dao-Szabo founded iPaymy for Business – a secure and easy to use
platform enabling SMEs to pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today.

What’s your story?
I’m Chrystie Dao-Szabo, and I’ve worked as an international banker for over 22 years. During that time, I travelled through Asia, Australia and Europe, and everywhere I saw how my clients struggled with managing their finances and keeping cash around.

I wanted to use my experience to help them, but I also knew the solution they needed didn’t exist yet. This pushed me to give up on my secure career, and instead look into the innovative world of FinTech for an answer.

This is how I founded iPaymy – at its launch, a platform to help consumers pay their monthly expenses using their credit cards. We’ve grown a lot since, and today, iPaymy for Business is a platform that allows business owners to use their credit cards to pay for rent, salaries, invoices and taxes, freeing up their cash for business-critical operations.

What excites you most about your industry?
What excites me most about FinTech is it’s culture of constant disruption, thanks to cool and innovative products and services coming out every day.

What’s your connection to Asia?
I was born in Vietnam, grew up in Australia and worked in Asia, Europe and Australia. Being raised by traditional Vietnamese parents meant that deep down I was still an Asian at heart, so I have a strong connection with the region.

Favourite city in Asia for business and why?
Singapore of course. It’s easy to do business, English is the main language, and the infrastructures like public transportation are great. Also, the government supports local innovation in multiple ways, like giving grants for SMEs and FinTechs.

What’s the best piece of advice you ever received?
Keep giving, and one day you will receive.

Who inspires you?
My parents. My father had a successful business in Vietnam just before the fall of Saigon in 1975. After the war, my father was sent to a re-education camp for three years, which meant my mum had to bring up two young kids – a 3-year-old, me and my 4-year old brother on her own.

In 1980, we all fled Vietnam on a boat and arrived in Sydney, Australia via refugee camps in Indonesia and Singapore. There, my parents had to start over with nothing to their names and only AUD 50 given to them by the Australian government.
They went on to build several businesses in Australia!

What have you just learnt recently that blew you away?
The number of young and smart people who have carved out successful careers by founding their own startups (or joining really cool ones). When I was starting out my career, doing any of these was not a viable option; it was either working for an accounting firm, an insurance company or a bank.

If you had your time again, what would you do differently?
If I were starting out my career now, I would choose the path of joining a startup as you get to learn so much about running a business and how to assemble a winning team.

How do you unwind?
I like travelling to a beach or a resort destination and just relaxing by the pool or beach. I also like to unwind after work with a glass of champagne or wine, and a bowl of truffle fries.

Favourite Asian destination for relaxation? Why?
Thailand. I love the people and the spicy Thai food.

Everyone in business should read this book:
The E-Myth. It’s a book series that dismantles common myths about entrepreneurship in different industries.

Shameless plug for your business:
With iPaymy for Business, SMEs can pay rent, salaries, invoices, and even corporate tax using the credit cards they already have in their wallet today. SMEs love iPaymy because it works like a credit card, but pays like cash.

iPaymy’s secure and easy to use platform reliably delivers payments to vendors while freeing up cash and providing access to interest free credit. Forget the delays and aggravations that come with traditional SME financing options. Schedule recurring payments, manage invoices, set payment reminders, and monitor payment status all from one dashboard.

It’s never been easier for SMEs to meet monthly payment obligations while keeping cash available to fuel growth, bridge receivable gaps, and make immediate investment in the supplies, services, and expertise needed to drive a growing business forward.

How can people connect with you?
You can find me on LinkedIn or contact me by email.
My LinkedIn: https://www.linkedin.com/in/chrystiedaoszabo/
My email: [email protected]

Twitter handle?
https://twitter.com/ceedeees

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

Continue Reading

Trending