How to Use Data & Tech as an Advantage in Decision-Making

In a recent session presented by Pharrell's Black Ambition and C-Suite Coach, our CEO, Angelina Darrisaw, shared invaluable insights on how entrepreneurs can elevate their decision-making skills. The event also featured a fireside chat with Freddie Figgers, CEO of Figgers Communication, who discussed leveraging data and technology for strategic decision-making.

Key takeaways from the webinar:

• Decision-making is a constant: The average adult makes approximately 35,000 conscious decisions daily, and even more for entrepreneurs.

• Effective decision-making is crucial: Procrastination and indecision can lead to missed opportunities, financial losses, and increased stress.

• Different styles for different situations: Adapting your decision-making style to the situation can lead to more effective outcomes.

• Key factors to consider: Economic impact, brand alignment, worst-case and best-case scenarios, opportunity costs, gut instinct, and team dynamics.

• Utilize decision-making tools: Tools like decision trees, Pareto analysis, and SWOT analysis can help organize, prioritize, and remove biases.

• Embrace a growth mindset: View failure as an opportunity for learning and growth, fostering confidence in decision-making.

• Don't underestimate the power of your network: Seek guidance from mentors, coaches, and mastermind groups.

Fireside Chat with Freddie Figgers:

• Early passion for innovation: Figgers' entrepreneurial journey began in his teens, driven by a desire to solve real-world problems.

• Social impact as a driving force: Figgers' businesses focus on creating technology solutions that address pressing social issues.

• The importance of team and culture: Building a strong team with shared values and a supportive culture is crucial for success.

• Technology as an enabler: Figgers emphasizes the importance of custom technology solutions tailored to specific business needs.

• Networking and mentorship: Building relationships with other successful entrepreneurs and seeking guidance from mentors is invaluable.