{"id":3346,"date":"2024-11-19T09:22:26","date_gmt":"2024-11-19T09:22:26","guid":{"rendered":"https:\/\/alpermert.com\/?p=3346"},"modified":"2024-11-22T14:44:03","modified_gmt":"2024-11-22T14:44:03","slug":"regret-minimization-framework","status":"publish","type":"post","link":"https:\/\/alpermert.com\/?p=3346","title":{"rendered":"Regret Minimization Framework"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">Does this case sound familiar?:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>You are in your class, sitting with your friends and teacher, having a pretty usual class just like any other. But your teacher all of a sudden pulls out that really hard and unexpected question out of nowhere, which your friends are hopelessly discussing the possible answer about, in panic. Meanwhile, you realize that you somehow know the freaking answer, but still, perhaps due to the reaction of your friends or the objective difficulty level of the question, but mainly the fear of being wrong, you doubt it and are uncertain about your answer.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>However, you are aware of your possible popularity in your class, praises from your teacher whom you always wanted to prove yourself to\u2014because you maybe think you&#8217;re viewed as an underdog the whole time but have a great interest in their class\u2014in case you tell your answer and it turns out to be correct.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>At this point, you are facing the end bosses of modern psychology, you are combating the \u2018Impostor Syndrome\u2019, \u2018Pluralistic Ignorance\u2019 and \u2018Social Comparison Theory\u2019 all at once, or at least you try to.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>Not long after, while you&#8217;re still trying to survive that war against your mind and to weigh the positive and negative consequences of telling your idea, and trying to make the optimal decision, all of a sudden, one of your classmates raises their hand and shouts out the same exact answer, word for word, as you would have said it, hoping it to be true but not really caring if not, looking into your teacher&#8217;s eyes with confidence, and already being admired by your class for their bravery and intelligence because of their innovative and interesting answer.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>You, however, with a loser mindset, who already acted like a p, envy them and hope their\u2014but also YOUR\u2014answer to be wrong. After a great silence for three to four seconds, your teacher smiles at your classmate and says &#8220;Well done XY, it couldn&#8217;t be more correct&#8221;. All your class is highly impressed, maybe not applauding, but one can sense the true celebration and admiration of everybody, besides you.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>You become red like a tomato and your heart beats get faster and faster, your brain betraying you as if it wasn&#8217;t holding you back from taking action just now and telling you &#8220;Oh you idiot, what have you done? You knew the freaking answer! Why didn&#8217;t you just tell it? You could have been the ONE.&#8221; You regret the shit out if it, but it sure is too late.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Despite the exaggerated description in this case, the majority of people have surely experienced a similar incident whether in school or somewhere else. Imagine experiencing such a huge regret at 80\u2014at a period of your lifetime where there is no way back\u2014as you review your life, because of opportunities, capabilities, interests, talents and goals you have never taken action upon, which you realistically could have achieved but you rather let them all pass by. How painful would that be?<\/p>\n\n\n\n<p class=\"has-medium-font-size\">I had came across a very inspiring reel\u2014a clip of an interview with Jeff Bezos where he mentions this \u201cRegret Minimization Framework\u201d. I indeed liked it so much that I ended up creating a reel out of it myself, just like the Steve Jobs one. You can watch it&nbsp;<em><a href=\"https:\/\/www.instagram.com\/reel\/C_z3GyzshDD\/?igsh=MWVueTh0NWs5MHVpdQ==\">here<\/a><\/em>&nbsp;if you are interested.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Jeff Bezos\u2019 \u201cRegret Minimization Framework\u201d works like this:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li class=\"has-medium-font-size\"><strong>Project yourself into the future<\/strong>: Imagine yourself at an advanced age (e.g., 80 years old).<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Look back on your current decision<\/strong>: Reflect on whether you would regret not having taken action.<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Ask yourself<\/strong>: If you&nbsp;<em>don\u2019t<\/em>&nbsp;do this, will you regret it in the long run?\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">If the answer is&nbsp;<em>yes<\/em>, you should likely take the plunge.<\/li>\n\n\n\n<li>If the answer is&nbsp;<em>no<\/em>&nbsp;or uncertain, the decision might not be as crucial.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p class=\"has-medium-font-size\">I\u2019ve applied this method to my life, and asked myself: \u201cWill I regret for taking action towards my dreams and brutally fail afterwards in these early ages?\u201d The answer tended to come as a very clear \u201cNo! I indeed would regret the opposite, never committing to make it to my goals and having a lingering doubt about whether I could actually achieve them, afterwards.\u201d So I radically blind-jumped into a business journey after my high school graduation.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">I\u2019ve invested more money, time and energy in this whole business and self improvement journey in last 6 months than probably my whole life. I\u2019ve started several businesses, attended two partnerships, got invaluable learnings and experiences. If you would like to get an idea about what I\u2019ve done and my current status, you can watch the quick summary of my whole journey in the last 6 months&nbsp;<em>in this two-minute reel.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\">However, the importance of the good old persistency and consistency are the most valuable learnings, we will address my individual learnings and experiences that I\u2019ve acquired during this journey in various business models\u2014what I will definitely apply, what I\u2019ll avoid in the future\u2014in another blog post in detail.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">But the main question is: \u201cDo I regret spending so much money, time and energy on something that eventually failed?\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\">First, it is really a perspective thing\u2014it is how you view things. For someone who views this like this and considers it to be a commodity-waste and a failure, it would be clear regret.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">But in life I only regret things that I\u2019ve not taken action upon, instead of the ones I\u2019ve done. So just like indicated; I couldn\u2019t buy these learnings and experiences from this \u201cfailure\u201d with money if I wanted to. I now know what works and what doesn\u2019t. I discovered my inclinations to focus on; my skills to practice; my weaknesses to improve, and strengths that I am confident with, and meanwhile developed all of them. I now know what to do and avoid next. I sense a huge forward dash in my personal growth, in the long run, in areas and topics I want to become a\u00a0<em>Master<\/em>\u00a0in, but now is sure the time for the\u00a0<em>Apprenticeship.<\/em>\u00a0<\/p>\n\n\n\n<p class=\"has-medium-font-size\">My final answer to that question is:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>Absolutely not! What I regret is not taking action and start improving myself before. What I regret is not identifying my skills, inclinations, interests\u2014what I want to do with my life, before.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em>But never the \u201ctaking action and actually trying to achieve\u201d part, it is in fact the one, that I am despite all \u201cfailures\u201d the most proud of.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\">With that, I encourage everyone\u2014beyond the \u201cstart now\u201d clich\u00e9,\u2014to take the relevant action for their goals immediately, after applying&nbsp;<em>the Regret Minimization Framework<\/em>&nbsp;to their situation and asking them:<em>\u201cWill I regret not having tried this when I am 80 years old?\u201d<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Does this case sound familiar?: You are in your class, sitting with your friends and teacher, having a pretty usual class just like any other. But your teacher all of a sudden pulls out that really hard and unexpected question out of nowhere, which your friends are hopelessly discussing the possible answer about, in panic. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-3346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inspiration"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/posts\/3346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alpermert.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3346"}],"version-history":[{"count":5,"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/posts\/3346\/revisions"}],"predecessor-version":[{"id":3361,"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/posts\/3346\/revisions\/3361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alpermert.com\/index.php?rest_route=\/wp\/v2\/media\/3352"}],"wp:attachment":[{"href":"https:\/\/alpermert.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alpermert.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alpermert.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}