The Jeff Bezos Regret Minimization Framework for Building Your Startup

Over at Forbes, Jeff Tyler writes that budding Entrepreneurs should consider what Amazon CEO Jeff Bezos calls the Regret Minimization Framework.

Bezos weighed the pros and cons over and over again. And finally, he came to a realization that made the decision to pursue his startup idea “incredibly easy.” He called it the regret minimization framework, in which he imagined himself as an 80-year-old man looking back at his life. Foremost, as an elderly man, he knew that his life’s regrets, more so than anything, would keep him tossing and turning late into the night. At the same time, he strongly believed that the 80-year-old Jeff Bezos would not regret having tried building a startup that had a chance to make real impact — even if it most likely ended in failure. What would deeply haunt him would be the regret of having watched the opportunity pass him by.

In what may be their best ad ever, Harley Davidson applied the Regret Minimization Framework in their marketing for great effect.

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About Rich 782 Articles
Recently named as one of the Top 20 Big Data Influencers by Forbes Magazine, Rich Brueckner is an avid writer, publisher, and technology pundit focused on high performance computing. He acquired inside-HPC.com in 2010 and has since expanded his online publications to include inside-BigData, inside-Startups, and The Exascale Report. With over 25 years of HPC experience at Cray Research, SGI, and Sun Microsystems, Rich is known to many in the industry as “the guy in the Red Hat.” When he’s not working, Rich keeps busy writing fiction, cartoons, and parody films. You can check out his stories: Angels of Silence, The Observer Effect, The Three Magi of Katrina, Seven Meals from Chaos, Friends of the Fallen, The Guardian’s End, and Ghosts of the Indian Herb. He has also penned some short film scripts including: Jigsaw Falling into Place and Bardo. In non-fiction, Rich contributed the Foreword to Dark Matter, Dark Energy, Dark Gravity, a book about the Big Bang by Dr. Stephen Perrenod. He also wrote the Foreword to 72 Beautiful Galaxies, an interactive iBook by Dr. Stephen Perrenod. Rich lives and works in Portland, Oregon.