What is the 10 10 10 rule in decision-making?

After having struggled with decision-making and wanting to have it all at the same time, Welch came up with this 10-10-10 technique. “Now I consider with every decision, what are the consequences in 10 minutes, in 10 months, and in 10 years. I put every decision in this frame.”

What is the 10-10-10 technique in decision-making?

One way to analyze the short-term and long-term consequences of your work-life-balance decisions is to apply the 10/10/10 Rule: to ask yourself how you'll feel with the options in 10 minutes, 10 months, and 10 years.

What is the 10 and 10 rule?

The most commonly cited is the "10/10 Rule." This rule states that a contract passes the threshold if there is at least a 10 percent probability of sustaining a 10 percent or greater present value loss (expressed as a percentage of the ceded premium for the contract).

What is the 10-10-10 1 rule?

Before we break down what's wrong with the 10/10/10 rule, let's quickly review how it works. It's pretty simple: 10/10/10 is 10 mins for Them, 10 mins for You, and 10 mins to talk about the future. It's short.

What is the rule of 10 in psychology?

Ten percent of life is made up of what happens to you. Ninety percent of life is decided by how you react. We really have no control over 10 percent of what happens to us.

What is 10/10/10 Rule | Explained in 2 min

What is an example of the 10% rule?

For example, a plant will use 90% of the energy it gets from the sun for its own growth and reproduction. When it is eaten by a consumer, only 10% of its energy will go to the animal that eats it. That consumer will use 90% of that energy and only 10% will go on to the animal that eats it.

What is the 10 rule and why is it important?

What is the 10 rule? The ten percent rule of energy transfer states that each level in an ecosystem only gives 10% of its energy to the levels above it. This law explains much of the structural dynamics of ecosystems including why there are more organisms at the bottom of the ecosystem pyramid compared to the top.

What does the 10 20 10 Rule mean?

While it's technically a rule of thumb as opposed to an enforceable decree, the 10/20 rule is a system of budgeting that can work for virtually anyone. The idea is to keep your total debt at or under 20% of your annual income, while maintaining monthly payments at no more than 10% of your monthly net income.

What is the 20 10 Rule and how is it used?

What does this mean exactly? This means that total household debt (not including house payments) shouldn't exceed 20% of your net household income. (Your net income is how much you actually “bring home” after taxes in your paycheck.) Ideally, monthly payments shouldn't exceed 10% of the NET amount you bring home.

What is the 20 10 Rule and how do you apply it?

What is the 20/10 Rule? The 20/10 rule follows the logic that not more than 20% of your yearly net income should be spent on consumer debt, and no more than 10% of your net monthly income should go towards paying the debt repayments. While a housing repayment might be considered a “debt”, it doesn't apply to this rule.

What is the 10-10-10 concept?

After having struggled with decision-making and wanting to have it all at the same time, Welch came up with this 10-10-10 technique. “Now I consider with every decision, what are the consequences in 10 minutes, in 10 months, and in 10 years. I put every decision in this frame.”

What is the 10-10-10 rule stress?

When you have a choice or decision to make, reflect on the consequences in 10 minutes time, 10 months and 10 years. Normally, when making decisions under stress we just consider the immediate (10 minutes) impact, and we don't consider the long term consequences.

What is the 5 to 10 rule?

The 10 and 5 rule is a simple guideline that is widely used in the hospitality industry. The rule dictates that when a staff member is 10 feet from a guest, the staff smiles and makes direct eye contact, and when they are within five feet, the staff verbally greets the guest.

What is the 80/20 rule in decision-making?

The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes. In other words, a small percentage of causes have an outsized effect. This concept is important to understand because it can help you identify which initiatives to prioritize so you can make the most impact.

What are the 10 steps of decision-making?

What are the 6 C's of decision-making?

The 6 'C's-character, capacity, capital, collateral, conditions and credit score- are widely regarded as the most effective strategy currently available for assisting lenders in determining which financing opportunity offers the most potential benefits.

What does 70 stands for in a 70 20 10 Conversation rule?

The 70-20-10 rule reveals that individuals tend to learn 70% of their knowledge from challenging experiences and assignments, 20% from developmental relationships, and 10% from coursework and training.

What is the rule of 69?

The Rule of 69 is a simple calculation to estimate the time needed for an investment to double if you know the interest rate and if the interest is compound. For example, if a real estate investor can earn twenty percent on an investment, they divide 69 by the 20 percent return and add 0.35 to the result.

What's the 50 30 20 rule?

One of the most common percentage-based budgets is the 50/30/20 rule. The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings.

What is the 70 20 10 rule of money and how is it used?

The biggest chunk, 70%, goes towards living expenses while 20% goes towards repaying any debt, or to savings if all your debt is covered. The remaining 10% is your 'fun bucket', money set aside for the things you want after your essentials, debt and savings goals are taken care of.

What is the best way to split your salary?

The basic rule of thumb is to divide your monthly after-tax income into three spending categories: 50% for needs, 30% for wants and 20% for savings or paying off debt. By regularly keeping your expenses balanced across these main spending areas, you can put your money to work more efficiently.

What is the 10 15 20 rule?

If you're getting started in your 20s, save 10-15 percent of your pre-tax income. If you're getting started in your 30s, save 15-20 percent of your pre-tax income.

What does the 10 rule mean?

The 10% Rule means that when energy is passed in an ecosystem from one trophic level to the next, only ten percent of the energy will be passed on. A trophic level is the position of an organism in a food chain or energy pyramid.

What is the meaning of Rule 10?

Rule 10 states that ships crossing traffic lanes are required to do so "as nearly as practicable at right angles to the general direction of traffic flow." This reduces confusion to other ships as to the crossing vessel's intentions and course and at the same time enables that vessel to cross the lane as quickly as ...

What is the first 10 last 10 rule?

The 10/10 rule means students are not allowed to leave the classroom during the first 10 minutes and the last 10 minutes of a class period. This will remind your students of this rule and reduce classroom distractions.