Regret Minimisation Framework

Sounds nerdy, eh? But, its not, rather very useful and straightforward. The idea is that, whenever in life you are faced to make a major decision, think of what you will think of that decision when you are 80. Will you regret making that decision? Or regret not making that decision? Its essentially living life regret free!

Jeff Bezos, the founder of Amazon, coined this term in a 2001 YouTube video. It helped him leave his cushy Wall Street job and try out a venture which became the famous Amazon.

Jeff Bezos — Regret Minimisation Framework.

Mark Cuban also wrote something very familiar in a blog—

“A lot of people think Im crazy, or chasing publicity, or whatever. I don’t care what they think. Before I do any of the many things that I get asked to do, and that I think might be fun, I have one simple question i ask myself. When I hopefully turn 90 and look back at my life , would I regret having done it, or not having done it ?”

This shows that everyone can get confused in life but the better leaders have tools to help them make these decisions easily! You just learnt one of them today :)

Even I have adopted this framework in my life and I don’t regret the two decisions I have already taken with it. Hope to stick with it as long as I can.

Recommend this, follow me for more stories and do tell me how RMF has played a role in your lives!