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Regret Minimization Framework - AgileLeanLife
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Jeff Bezos's Regret-minimization framework
Thinking about your potential regrets give you clarity. It also helps you to remove a few pieces of confusion in the present caused by alternative paths. It helps you make the right decision more easily.
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10/10/10 Rule
Before making a decision, considers how you’ll feel about this decision in 10 minutes, 10 months, and 10 years.
It’s easy to make short-term decisions that may be beneficial 10 minutes...
Pareto’s Law
In anything we do, there’s always ~20% of activities that will deliver 80% of our desired results.
It’s easy to be wrapped up in ‘busy’ work without ever getting anything done. Pareto’s Law is a useful mental model to be more effective, rather than just be efficient.
Parkinson’s Law
Work expands so as to fill the time available for its completion. So try placing artificial time limitations.
If we’re given three hours to complete a task that normally would take an hour, we’ll find a way to fill those three hours. However, when we’re down to the final thirty minutes, we’re suddenly feeling the pressure to get things done.
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Before You Call It Quits
- Make sure you've identified the real causes of your unhappiness. Keep a diary of events and problems.
- Give it a chance. Many things, like diets, require time to work out.
- Try m...
Quit When...
- You're consistently experiencing more frustration than reward.
- You can't envision a possible solution or continuing this way.
- Spending time on this keeps you from more rewarding endeavors or seriously damages your well-being.
- You're staying for the wrong reasons.
- Your friends keep telling you to quit.
- Don't think of quitting as either good or bad in itself or a reflection of your self-worth.