How Bezos makes decisions? 🚪
Decisions are similar to doors. Some doors are entry only. Some doors allow both entry and exit.
Optimal decisions should minimize your regrets and/or maximize opportunities. Bezos has an interesting way of making such decisions.
Reversible and irreversible decisions
According to Bezos, all decisions we make can be divided into two categories - reversible decisions and irreversible decisions. If a decision is reversible, we can make it fast and without perfect information. If a decision is irreversible, we better slow down the decision-making process and ensure that we consider ample information and understand the problem as thoroughly as we can.
A decision = a door
Bezos compares decisions to doors. Reversible decisions are doors that open both ways. Irreversible decisions are doors that allow passage in only one direction; if you walk through, you are stuck there. Most decisions are the former and can be reversed (even though we can never recover the invested time and resources). Going through a reversible door gives us information: we know what’s on the other side.
Once you understand this fact, you can make faster decisions. Faster decisions will expose you to more opportunities at a shorter period of time.
Finally, when you’re faced with making a tough decision, just think of it as a door.
If it’s a reversible decision, move fast.
If it’s an irreversible decision move with caution.
Most importantly, know that most of the decisions we come across in life and business are reversible decisions.