How Jeff Bezos founded Amazon

written by JOSH GESSNER | The Curious Competitor

30 yr old Jeff Bezos worked at D.E. Shaw, a Wall St hedge fund...

But we know him as the billionaire founder of Amazon.

What changed?

The Bezos Regret Minimization Framework:

Bezos became obsessed with the 'Internet'.

He saw a vision where it could change the world:

And wanted to participate in the revolution.

That left the question:

Leave the lucrative hedge fund job?

Or

Build an uncertain "Internet Book Store"?

To answer this question, Bezos asked himself:

"At the end of my life, will I regret not having done this?”

This question gave birth to the Regret Minimization Framework:

The Regret Minimization Framework:

1. Project yourself as an 80 yr old.

2. Look back on your current self.

3. Ask: "What will I least regret?"

When Bezos followed this framework, confusion turned to clarity:

"When I thought about it that way it was an incredibly easy decision. If you can project yourself to age 80 and think, what will I think at that time, it gets you away from some of the daily pieces of confusion."

The framework minimizes the amount of regrets you have in your life.

To look back and be proud of the decisions you've made.

I've used this to reflect on my life:

Am I making decisions that I'll regret because of:

• Ease?

• Comfort?

• What other people will think?

Big, life changing decisions can be riddled with uncertainty and doubt...

But the Regret Minimization Framework can provide clarity.

Next time you face a difficult decision, try out the Regret Minimization Framework.