Are you dealing with so much on your plate this year that you’ve become a little bit overwhelmed by how much you have to get done?
In a household where my wife and I both run our own businesses and have a small child to accommodate, I know how difficult it can be to juggle everything and still walk away feeling like I’ve made quality decisions.
I’ve personally found that having a clear head when it counts comes down to having the right tools. So the other day when I came across a great article by Chip and Dan Heath in Fast Company, I thought it was important enough to share.
This is a technique that I’ve found has helped me to make really tough decisions and it’s called the 10/10/10 Technique.
Watch the video:
It works like this: Imagine you’re going to make a decision like trying to kick coffee in 2018. If I succumb to having a coffee, in 10 minutes time I’m going to feel great because I love the taste of the coffee and it’s going to give me a real buzz.
However, if I extend that out to 10 months, you know what? I’m probably going to be on a downhill slide, having a coffee every day, which is not something I want to do.
Now, if I extend my timeline to 10 years – to the long term – I know that coffee any favours for my body and my adrenals and teeth, and for my general wellbeing. So I know that ultimately it’s probably not going to be great for me.
So you can see how this 10/10/10 timeline is starting to help me put things into perspective – if I’m going down out of the spur of the moment to drink coffee, then I know that maybe in the long term it’s actually not going to be great for me, so I might change my decision.
Now, let’s take investing in something like property, and let’s look at it in 10 minutes time if I was to sign a contract today.
Honestly, I get nervous every time. Sometimes I doubt whether I’ve done the right thing or not. I could have made a bad choice but I may not know for a while as the market progresses. I also know that it’s going to cost me something out of my own pocket until I get a tenant in there and start collecting rent.
In 10 months time, I probably look back and go, “You know what? I’m really glad I did that. I ticked it off my list, it’s doing reasonably well, hopefully, it’ll do much better in the long term.”
Now, in 10 years time, I am really going to be patting myself on the back, because that property should have had some really significant growth. I’m going to look back on that and go, “I’m really glad I made that decision.”