The 10-10-10 strategy for making better decisions

            Most of us have trouble making decisions, especially difficult ones. And when we do make a decision, we often wonder if we made the right one. Bottom Line/Personal interviewed noted writer Suzy Welch on her "10-10-10" strategy for making better decisions...

why we go wrong

            The human mind is wired to be more concerned with current comfort levels than with long-term consequences. Thus when we make decisions, we often act  if the future doesn't exist - or at least, as if it doesn't count for very much. Psychologies refer to this tendency as "hyperbolic discounting".

            Example: A busy man is asked to spend hours working on a project. He says yes - even though he knows that he either will have to sacrifice something more important to him or back out of his new commitment later. He tells himself that he said yes because he wants to help. In reality, he said yes because this nets him thanks and praise, which allows him to feel good about himself right now. Saying no would force him to endure a few minutes of guilt and discomfort.

Some people manage to overcome this tendency and ficus in long-term goals - but even these seemingly responsible planners can go wrong. The long-term consequences of our actions often are unknowable. When that's the case, making decisions based on only the perceived long-term consequences means living life based on guesswork. Besides, those who always sacrifice near-term happiness for long-term priorities never get to enjoy today - and there's no certainty that we still will be here tomorrow.

            Example: A man worked the four-to-midnight shift for years because it offered extra pay, helping him toward his goal of a secure retirement. He rarely saw his family. He died before reaching his retirement age.

Three time frames

            A better way to make decisions is to employ a 10-10-10 strategy. When faced with a crisis or decisions, followed by the consequences of each option in the following three time frames...

the next 10 minutes Which option will make your life easiest and happiest right now and in the immediate future? How unpleasant will the coming minutes (or hours or days) be if you choose a different alternative?

            Example: A man is trying to decide whether to quit his job and start a business. He knows that quitting will feel liberating in the next 10 minutes...but it's very difficult to predict whether his business will be a success in 10 years. This man can weigh whether the long hours and huge risks if starting a business will get him out of bed energized  for the next 10 months or keep him up nights worrying... and whether his marriage and his savings will survive 19 months of long hours and limited income.

The next 10 years (or longer)