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                                Leadership Style-“Regret Minimalization Framework”



A guy came across an incredulous statistic in 1994. The worldwide web was growing at 2300%.

He wanted to get on board that rocket. He wanted to start his own online retail store.

But there was one problem.

He was already working in a hedge fund that paid him handsomely.

Should he stay in his well-paying job or launch a company that has a failure rate of 90%?

He used a mental model to make the decision. That model is called the regret minimization framework.

Just imagine you are 80 years old. When you are 80, what would you regret the most?

Is it staying at your stable job or giving a shot at this online thing?

The answer was clear. He quit his job and launched his online store.

That online store is called Amazon and that guy is Jeff Bezos.

I came across this story while reading about Jeff Bezos.

 

Most of us are stuck in our daily grind and we rarely think about how we would feel when we are 80 years old.

Most of our "problems" or "excuses" would not matter when we are 80.

What will matter is our regrets.

Do you want to regret more, or do you want to regret less?

Remember it is choice…… 



The leadership is not only to apply organization framework. There will be a certain time to apply to our lives itself. Transform our life what we always wanted to. We stuck in our traditional lifestyle and afraid to take initiatives.  


The Regret MinimizationFramework: How Jeff Bezos Made Decisions - YouTube


Reference


The Regret Minimization Framework: How Jeff Bezos Made Decisions | by Aly Juma | Medium

http://www.vishalkhandelwal.com/minimize-your-regrets/

The Regret Minimisation Framework by Jeff Bezos (habitsforwellbeing.com)


Comments

  1. Oshadha BandaraAugust 7, 2021 at 3:54 AM

    The goal of Regret Minimalization Framework, is to minimize the number of regrets in life. So when faced with a difficult decision: Project yourself forward into the future. Look back on the decision. This will develop the effectiveness and productivity of life or in business.

    ReplyDelete
  2. D.Gangani BandaraAugust 20, 2021 at 9:42 AM

    An inspiring article Kanchana. The self satisfaction is one of the esteem needs of a persons needs hierarchy. To fulfill needs and reach that level we must minimize doing things we regret when we look back. People must follow their passion to reach that level. So what I really liked about this article is the message given regarding having less regrets in the life and do what we love to do not what pays you more.

    ReplyDelete

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