Wealth is a Mindset – Lessons from Jeff Bezos

Jeff Bezos, the mastermind of Amazon, had this insane idea 25 years ago. He wanted to start selling books online. Back then, the internet was not the powerhouse it is today, and the thought of a hundred billion dollars was virtually unknown. But there he was, this 26-year-old, telling everyone that he would be the richest man on the globe just because he had a garage and an internet connection. So how did a 26-year-old with a job in finance end up becoming one of the richest men in the world?

Let’s talk about some of the lessons Jeff Bezos has shared in his interviews.

1. “Regret Minimalization” mindframe.

When talking about Jeff Bezos and his philosophies, the concept of “Regret Minimalization” often comes up. The idea of regret minimization is when having to make a decision, envision yourself in the future, and ask yourself which decision would cause you the least amount of regret.

As Bezos puts it, “I knew that when I was 80 I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not ever having tried.”

The regret minimization framework is a valuable decision-making tool, it prioritizes the long-term consequences of choices over immediate gains or losses. This approach helps individuals in making decisions aligned with their true selves.

2. Be stubborn in your passions

Jeff Bezos often talks about “a calling.” In his interviews, Bezos describes himself as a child filled with a passion for inventing.
He often recalls, “I’d invented an automatic gate closer out of cement-filled tires, a solar cooker that didn’t work very well out of an umbrella, and an aluminum foil baking pan, alarms to entrap my siblings. I’d always wanted to be an inventor.”
In his interviews, Bezos advocates for pursuing one’s own passion rather than chasing the trends in passions because no one puts in more effort than someone passionate about what they are doing.

3. Belief in yourself

Believing in yourself is another cornerstone of Bezos’ story. Despite skepticism from others, Bezos remained convinced that his idea for an online bookshop would not only become a reality but also a success.

Bezos knew what he wanted, and he went after it with everything he had. Sure, it was risky to leave a cushy job for the uncertain world of entrepreneurship, but Bezos wasn’t one to play it safe. He believed in following his passion, even if it meant taking a more risky path. Bezos’s story is a testament to the power of following your passion, making bold choices, and believing in yourself.

4. Effort is everything

Bezos emphasizes the critical role of effort and endurance in success. In his interviews, he credited his achievements not only to his natural skills at inventing, but also to hard work and his capacity to make difficult decisions. Bezos emphasizes that one should only take pride in making difficult choices rather than their natural abilities or gifts.

Bezos’ journey from a garage-based company to an enterprise demonstrates the transforming power of believing in oneself and accepting the obstacles that come with following one’s ambitions. Bezos’ biography teaches a remarkable lesson about the value of perseverance, determination, and the courage to carve one’s path, regardless of the odds.