How do we decide whether we should take this step or not? To explain in a very lucid manner I can say we make the decisions based on our experiences.
With every decision you take, there comes a possibility that you will regret taking that step or you will regret not taking that step. What if there is an easy way to make sure you don’t regret whatever your decision may be?
There is a way in which you can minimize the regret for your decisions. There is a regret minimization framework that Jeff Bezos use to decide on his decisions and minimize the regret factor.
Jeff Bezos said:
The framework I found, which made the decision incredibly easy, was what I called — which only a nerd would call — a “regret minimization framework.” So I wanted to project myself forward to age 80 and say, “Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.” I knew that when I was 80 I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day, and so, when I thought about it that way it was an incredibly easy decision
As popularly said “feeling of regret is more saddening than the feeling of doing it and failing” we can make a decision wisely through the combination of knowledge and this framework. Although this framework is good for the purpose of making people understand the importance of making decisions and not regretting it later, this framework should not force you into taking foolish decisions. Sometimes, conundrum situations do occur but then that is the time you combine knowledge and your own experiences with this framework to make a call.