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Wednesday, February 14, 2024

Emotional Intelligence

 

A Four-Part Model of Emotional Intelligence

The following model by emotional intelligence pioneer, Daniel Goleman, breaks down the four flavors of emotional intelligence. All are important, but many individuals tend to thrive in some aspects of EI more than others.

1. Self Awareness

Self-aware individuals are in tune with their emotions, behavior, values, and motivations. This isn’t to say that they don’t have blind spots. They’re human, like the rest of us. But people with high self-awareness tend to understand how their behavior (both positive and negative!) impacts others. Self-aware individuals care about how they show up in relationships. They will seek to repair harm, or reach a respectful impasse, if they sense they have wronged someone or something feels off. Like people with high self-management skills, they tend to have high leadership potential because they are self-motivated and value personal development.

2. Social Awareness

Socially aware individuals are sensitive to the emotions, behavior, and motivations of others. They are often great communicators and will pick up on subtleties like nonverbal facial or body language cues. Mood changes, too. These individuals may also be great perspective-takers, teammates, and leaders because they understand group dynamics and give credit where it’s due.

3. Self Management

People with strong self-management skills are generally able to check their emotions or urges when they feel themselves getting triggered. And if they do sense a disruption to their steady emotional state, they know when to press pause and take a break. They likely have a solid list of coping skills at their disposal. Strong self-managers can adapt to change gracefully and are not paralyzed by setbacks or challenges they may encounter.

4. Relationship Management

People with strong relationship management skills are great with other people regardless of their communication style or leadership level. Relationship builders express ideas clearly, seek clarity when they do not understand, and make an effort to consider other points of view. They find a point of connection and help others feel heard, valued, and at ease.

Two Quick Ways to Level Up: Greetings and Turn Taking

Simply greeting the teachers, classmates, neighbors, or colleagues you interact with on a regular basis is a surefire way to boost your social awareness and relationship management emotional intelligence areas. Waving, smiling, or saying, “Good morning!” will do as a start.

When we greet other people, we’re acknowledging their presence and building a bridge for future collaboration. When you walk into the office without your first cup of joe, you might not want to greet other people, but this simple action is the first step to creating a supportive and productive environment.

Learning how to take turns in conversations, games, or collaborative work sessions is another easy hack that improves all four areas of emotional intelligence. Toddlers practice these skills when they learn to use words like, “It’s my turn now,” to advocate for themselves instead of using negative actions like hitting a classmate. Imagine if Steve, our Marketing friend, had respected the agenda for the planning meeting. The meeting would have stayed on track, and other stakeholders would have been included in a timely manner. Steve would also have known when it was or wasn’t his turn to speak! Having emotional intelligence is respecting other people by recognizing that our words and behavior have impact. Taking turns shows that respect.

Tuesday, February 6, 2024

Five Mental Models from Charlie Munger

 Five Mental Models from Charlie Munger

Many years ago, I stumbled upon a PDF of Charlie Munger’s famous 1994 speech at USC. In it, he championed the idea that with 80 to 90 timeless mental models you could better navigate the world. This inspired me to create a list of models I believed mattered in early 2018. I often draw from that document for these articles. Almost six years since I began, I’ve assembled exactly 80 mental models. Many were learned through costly mistakes I’d rather not repeat.

Charlie Munger passed away just shy of his 100th birthday on November 28, 2023. Today, I’d like to share five of my favorite mental models that he inspired.

  1. Build Your Latticework – The first and most important idea is collecting and internalizing models. As Munger said, “The first rule is that you can’t really know anything if you just remember isolated facts and try and bang ’em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form … You’ve got to hang experience on a latticework of models in your head.”
  2. Teach to Learn – Munger referred to this model as the “Orangutan Effect” which I covered in an earlier TwentyPercenter post. He noted, “If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.” Ironically, no one learns more than a teacher.
  3. Mental Accounting – Munger explained the idea that how we make money informs how we value it. He described how gamblers would go to a casino with $100, win, and have $500 in chips, but keep playing until they left with $300. Most would say they made $200. Munger was clear that they had lost $200. Just because they were playing with house money, didn’t make that money not real. They could have left with $500. I remind myself and others of this model whenever I find myself with an unexpected windfall, like a tax refund or a bonus.
  4. Invert, Always Invert – One of Munger’s most famous sayings is “All I want to know is where I’m going to die, so I’ll never go there.” Many use that quote to illustrate this point. I prefer his reply at a Berkshire Hathaway annual stockholder gathering where he shared this lesson from his days as a WWII meteorologist: “When I was a meteorologist in World War II, they told me how to draw weather maps and predict the weather. What I was actually doing was clearing pilots to take flights. And just reverse the problem.
    I inverted. I said: ‘Suppose I want to kill a lot of pilots. What would be the easy way to do it?’ And I concluded that the only way to do it was to get the planes into icing the planes couldn’t handle or to get the pilot into a place where he’d run off fuel before he could safely land.
    So I made up my mind, I was going to stay miles away from killing pilots by either icing or getting them sucked into conditions where they couldn’t land.”

    Inverting the problem doesn’t always produce the solution but it almost always highlights the biggest mistakes to avoid
  5. Follow Your Interests – “Another thing that I found is an intense interest of the subject is indispensable if you are really going to excel,” Munger shared. “I could force myself to be fairly good in a lot of things, but I couldn’t be really good in anything where I didn’t have an intense interest.” Mastery doesn’t come easily. If you’re serious about getting great at something, start with something that interests you intensely.


Honestly, I could list many more. If this has piqued your curiosity, I highly recommend Shane Parrish’s book, The Great Mental Models Volume 1: General Thinking Concepts. If you have a great Munger quote or model you love, feel free to reply back and share.

One question to ponder in your thinking time: How can I collect the lessons I’ve learned such that I don’t repeat my worst mistakes?

Make an Impact!
Jay Papasan

Monday, January 22, 2024

Discovering PURPOSE

 p.u.r.p.o.s.e

Positive - Positive emotion is a success strategy.  Happiness causes success, not the other way around. Learn to cultivate joy in your life.  3:1, you need 3 positives to every one negative


Use challenges and uncertainty as a growth opportunity.  Where you are TODAY, is just the starting point.


Replenish and Restore.  What restores my energy; replenish your energy daily

on your To Do list:

  • DO

  • DELAY

  • DELEGATE

  • DROP

When I win, I will celebrate by doing:


Perspective: put it in perspective.  It is not what happens, its how you process what happens


Optimism: operate with optimism.  Think accurately; what is possible; what is the obstacle


Serve: serve as you work.  How are people's lives better because we crossed paths?


Embrace: embrace your journey. How far you go is determined by how much you grow.

What do you WISH you would have done in the last 5 years?  What is stopping you from going after it now?  JUST DO IT.



Finding Your Big Why

As Gary says in The Millionaire Real Estate Agent, “High achievers always have a Big Why!” A Big Why powers your daily routine. It motivates you to do the activities and hard work that lead to results. A Big Why gives you purpose, a mission, or a need that in turn gives you focus.

Bigger than a Number

Maybe you’ve never expected the source of your fulfillment to come during working hours. Instead, your career might be means to an end. If you’ve read The Millionaire Real Estate Agent, hopefully you paid attention to the statement on the cover: “It's not about the money... It's about being the best you can be!”

It’s OK if you have a target salary, but your financial goal should be rooted in something deeper than just acquiring wealth for wealth’s sake. Do you need that money to fund your dreams of world travel? What about being able to send your child to the country’s top schools? Those aspirations are the basis for a Big Why that will fuel your fire for years to come.

Although “why’s” are often aspirational, a Big Why has teeth. Ask yourself hat happen if you didn’t achieve your goals. If your answer is, “Oh, I would just keep saving or spend a little less and try again next year,” then your Why is not BIG enough. You have more work to do. There’s no real reason to keep knocking on doors. But if your goal is to make more than $100,000 a year so that you can afford to pay your daughter’s tuition at Juilliard so she can achieve her dreams of becoming a world-renowned conductor and not going just isn’t an option, that sticks. That’s BIG. There is a consequence to failing. You must host those open houses.

Focus in service to a larger purpose can lead to extraordinary financial success as a consequence. In their 2016 research, Patrick Hill, Nicholas Turiano, Daniel Mroczek, and Anthony Burrow found that “our dispositional characteristics influence how we make daily and long-term decisions in ways that either facilitate or hinder our ability to accrue wealth.” The ability to form a sense of purpose was the primary characteristic these researchers focused on when measuring net worth and income. Participants who made purpose the driving force behind long-term decisions were better able to envision long-term goals, set occupational or personal objectives, and fulfill their financial goals. For this reason, whether you’re a rookie or a veteran agent, a Big Why will increase your productivity by helping have more focus. It may also have the side effect of making your life more fulfilling, too. After all, money is only good for the good it can do.

Unlock Your Passions, Find Purpose

What passion led you to real estate? Maybe your dream has always been to sell houses. You’re a salesperson at heart and have a passion for transactions. It gives you a thrill to see signatures on dotted lines.

Or, more likely, you choose real estate above any other sales job because a component of the industry brings you joy. Maybe you’re like Jay Papasan, and deep down you crave impact: to make a lasting, positive impression on individuals or the world. You love empowering people by teaching them about current market conditions or setting them on the path toward lasting generational wealth. Maybe you’re an outdoorsy type and your Big Why is spending as little time locked behind a desk as possible. Whatever the reason, your purpose is probably hiding in these passions.

If you don’t already have a Big Why, you can begin your journey to unlocking it by identifying the day-to-day activities that make you happy. Once you’ve identified these moments, do you notice anything they may have in common? What may they ladder up to?

To help you on this journey, you can download the above graphic here under “The Millionaire Real Estate Agent” tab.

You can use this model to organize your “whys” and place the most important at the top.

Crucial to Your Success

The truth is people can tell when you don’t have a Big Why. If you are caught up in whether someone says yes or no, if your only concern is getting a name signed on a dotted line and collecting a check, you’re not going to get very far. That’s because a “little why” won’t provide the necessary mojo to power a Big Life. A fiduciary goes above and beyond, and you’ll never be able to do that unless your heart is really in it. When you discover what your passion is behind getting someone into a home of their own, you can provide the service needed to be a fiduciary and get on the right path to achieving success.

Now, at the beginning this new year, there’s no better time to re-focus your priorities around a new or more powerful Big Why. It’s also a great time to go revisit and master business basics. That’s why KellerINK has completely top-graded its MREA Book Club materials and partnered with KWU Master Faculty to bring you a deep-dive into the core models, concepts, and habits from the Millionaire Real Estate Agent. Join us each Thursday at 3 p.m. CST starting January 11 until February 15 as we travel the path of mastery with MREAs like Gene Rivers, Linda McKissack, John Prescott and more.

Wednesday, December 20, 2023

Happiness - how to have it

 

  • Happy people put effort into building solid relationships and they enjoy spending time with loved ones
  • Happy people do not deal with difficult situations alone; they share their problems with others
  • Happy people don’t pay attention to how others live
  • Afternoon naps can boost cognitive performance and make your output consistent throughout the day
  • When your brain is naturally unique, there is no point in comparing yourself to others
  • Listening to music while working is an investment in productivity
  • Happiness isn’t necessarily about how much we have but about how much we appreciate what little we have
  • What you focus on grows into who you are; where your mind goes, your emotions flows
  • Your sense of self-worth, joy and belonging are all enhanced by having a clear sense of purpose

Friday, December 8, 2023

Active Listening

 


Five Steps to Active Listening

  1. Stop multitasking – We’re all basically programmed to glance at our phones when bored. When the conversation counts, put the phone away. Taking notes is an exception to the multitasking rule. That’s actually a plus. If you use a notes app on your phone, let them know that’s what you’re doing.
  2. Listen with your eyes – A lot of communication is non-verbal. A person’s posture, hands, and facial expressions all complement the story they tell. Besides, nothing says “I’m listening” like eye contact.
  3. Engage with questions – Great listeners interrupt. Yep, you heard that right. The right questions help the speaker unlock their topic. They move the dialogue along and open new avenues to explore. Just don’t hijack the conversation to talk about yourself.
  4. Encourage non-verbally – Whether or not you're paying attention, the speaker is watching you. Are you nodding your head or fidgeting with your stuff? Are you leaning into the conversation or shifting back with your arms crossed? Just as you are aware of their body language, be cognizant of your own.
  5. Paraphrase and clarify – When the other person has finished sharing, confirm you heard them correctly. Summarize what you heard to make sure you got it right. It can also help clarify the next step. A client or coworker may have shared a challenge because they need your help. A spouse may have shared a problem because they need your sympathy. Even if you nailed everything up to now, you can still fail by misreading their intentions.

Almost 2,000 years ago, Epictetus advised, “We have two ears and one mouth so that we can listen twice as much as we speak.” In today’s hectic business environment, we’d be well-served to take heed.

One question to ponder in your thinking time: How can I be more present for the conversations that count?