Ever wondered how Jeff Bezos, the mastermind behind Amazon's success, makes his big decisions? Uncover the simplicity and effectiveness of his decision-making framework, a tool that has propelled him to the zenith of the business world.
Jeff Bezos’ “Regret Minimization” framework
When faced with a hard decision, developing a framework through which to make decisions is crucial
- Decision-making is a skill. It’s something that must be practiced and refined over time
- This framework can help you make big decisions in these core areas of your life
Life Direction
Seek to minimize your regrets
- Winston Ibrahim, the founder and CEO of Hydros.com, shares how to know if you’re moving in the right direction
- “Is this a speed bump, or a larger growing trend? Is there an abundance of opportunity? Or is this something that’s never going to work the way you want it to?”
Business
It’s the big decisions that warrant the most time and attention
- Don’t sweat the small stuff
- In business, it’s never the “in the weeds” decisions that make the difference
- Make a hard left or a hard right
- You have to ask both logical and emotional questions
- What’s happening?
- Can you stick with it?
Relationships
“Regret Minimization” framework can be a helpful way of taking the emotion out of the equation and seeing things a bit more distantly
- It’s an opportunity to step into the mental space required to make the right long-term decisions
- Any decision made out of anger is likely to be one you will regret down the road
