“It's better to regret what you did than what you didn't do” is a well-known behavioral model that helps some billionaires stay in the TOP 10 of the Forbes list.
Let's talk about the “Reimbursement Minimization Model”. It was initially formed for his use by Jeff Bezos when he was looking for a way that would allow him to assess the correctness of the decision he planned to make in 1994. Leaving his regular job on Wall Street (paying about a million a year), he asked himself: "What will I regret in my 80 years?" The answer was: "Not trying to do what I wanted". We know exactly what decision Jeff made then and what is the fate of the Amazon online store, but now let’s take a look at the method that Jeff Bezos is still guided by to this day. He says that he lives in the future, that is, mentally transfers himself 2-3 years ahead and from that "position" makes a decision needed today. “We are stubborn in vision, yet flexible in detail,” Bezos writes in his book.
His management decisions are based on an assessment of the "reversal of consequences". He divides all management decisions into two categories. The first is a decision that has irreversible consequences. And the second - decisions that can be "rolled back" or their influence will not matter much to achieve the overall strategy. Bezos notes that often the problem with managers is that they categorize most decisions in the first category when in reality they fall under the second one. Thus, they waste a lot of their time and the time of their key employees solving issues that can be corrected. And if we combine these two behavioral models of Bezos (the model of minimizing reimbursements and the model of making managerial decisions), we will see that this significantly makes his life "here and now" easier. His psychological immunity has established the criteria that make him happy with any ups or downs. After the disastrous launch of Fire Phone, he said: "If you think this is a big failure, then I can tell you that now we are working on much bigger setbacks ...".
Any behavioral model, to be successful, must be based on true knowledge of yourself, your strengths and weaknesses, your goals and dreams, what you want to avoid in your life, what you are afraid of, and what will make everyday life happy.
Zoryana Golovata.
Leader of the expert group on cognitive management
