The regret index

I just watched this video of Josh Petersen of 43 things talking about the process of filtering ideas to see which one is worth pursuing. This process is a critical one -- and one that is filled with contradiction and emotion.  in the video, he talks about using the notion of "regretting" not doing an idea as a way of sorting through ideas. I think he's totally right -- some ideas -- you just have to get out of your system...otherwise you'll regret not doing them.  That doesn't mean that the start up is going to be a raging success if you only use this method of sorting through ideas -- I just think it's one of the more important ways to sort through your ideas. So along side your spreadsheet of market size, capital needs, skill fit, add a column for the regret index when analyzing which of your ideas to pursue -- and which ones not to pursue.

Comments

[Henry Albrecht]

Good comment. I think this is a great way to choose spouses, houses and startup ideas. Everything important in my life needs a sort of soulful attachment that combines intellectual interest, competitiveness (in my case testosterone) and enough intrinsic passion to keep you going through the long dark spells. They come. When they do, you need the resilience that comes from knowing you are doing something that (at least to you) has meaning.

[Ben Casnocha]

Totally agree. See:

http://ben.casnocha.com/2008/11/regret-aversion.html