Suzy's 10-10-10

I recently saw Suzy Welch on Today and then noticed the same thing in Business Week. Here's a condensed version of the BW article including quotes from Ms. Welch.

Many people live in the 10-minute phase. I have a friend who's a fantastic psychiatrist who travels at all times with a candy bar in her purse because she doesn't want her kids to get mad at her. Then there are those people who live for some distant future and never live in the moment. I think it's that middle 10 – the 10 months – that we often don't bring into consideration. But you have to look at all three.

Or take a guy on Wall Street who puts his company at risk with credit default swaps. In 10 minutes he gets praise from his boss. In 10 months, he gets a million dollar bonus. But in 10 years, the whole system blows.

When it comes to resource allocation, 10-10-10 is a great managerial tool. In 10 minutes, you might be having extreme cash flow problems. In 10 months it's probably not going to be much better, so you have to prepare for that. And thinking about the next 10 years allows you to imagine what kind of company you want to be. Using 10-10-10 allows you to be more strategic.

Good managers use 10-10-10 all the time. They don't may not have a name for it, and maybe they don't use it as often as they should. But they do it.

Some good thoughts for a Monday...