Why Smart People Make Terrible Business Decisions

Transformed With Data

The episode of Transformed With Data Podcast, Graeme Crawford talks with executive coach Glen Hellman about why smart people often make terrible business decisions and how to avoid decision paralysis. Glen, recently recognized as a top executive coach by Inc. Magazine, shares insights on how too much data can actually hinder decision-making, why our brains are wired for simple choices rather than complex analysis, and practical strategies for making better choices in business. They discuss the importance of simplifying decisions, understanding your ideal clients, embracing failure as a learning tool, and recognizing the role luck plays in entrepreneurship.

Chapter Timestamps:

0:00 - Walking away from bad-fit customers

0:29 - Scale your business with data intro

1:04 - Why smart people make bad decisions

2:04 - Glenn Hellman introduction and credentials

2:29 - Decision making and data obsession

4:33 - Inc. Magazine recognition discussion

4:41 - Smart people and too much data

5:02 - Satisficers versus optimizers explained

6:45 - Rating cities decision example

8:21 - Restaurant app rating system

9:05 - Cerebellum versus reptilian brain

11:05 - Processing information for decisions

11:37 - House buying decision framework

14:27 - Alternative house hunting strategy

15:23 - Perfect client scoring system

16:10 - Walking away from customers

17:12 - Coaches are like gloves

19:13 - Three bucket customer system

21:13 - Grant's tomb burial story

22:46 - Coaching failure and risk

24:32 - Flight simulator failure analogy

25:11 - 80% solution versus perfection

25:24 - LinkedIn ads testing example

27:16 - Decision making frameworks discussed

29:09 - Self-limiting beliefs from childhood

32:09 - Rebelling against management story

33:20 - School system and curiosity

35:44 - Academic team advisory experience

37:23 - Context in corporate environments

38:48 - Gathering data for decisions

39:51 - Perfect decision possibility discussion

40:25 - Correlation versus causation examples

41:25 - iPhone and WWII veterans

42:26 - Nicolas Cage drowning correlation

43:26 - Too much data finding correlations

44:36 - Data Maturity Assessment advertisement

47:53 - Glitter traction versus real traction

48:47 - Conversion rates and rate of change

50:30 - Intelligence as behavior change

51:31 - AI and outdated skills

52:54 - Cursive writing value today

54:34 - Pattern interrupt marketing strategy

55:34 - Lumpy mail and Whoop Ass

58:35 - Sarcastic LinkedIn comments strategy

59:35 - Teaching outdated skills discussion

61:37 - Business success dice analogy

63:37 - Luck versus intelligence discussion

65:40 - Snake eyes and learning

66:40 - Accountability for outcomes

67:44 - Best leaders take team failures

68:41 - Fault and responsibility discussion

69:41 - Summary of key learnings

70:42 - Contact information for Glen

71:43 - Closing remarks