Welch's concept is to consider important decisions with the 10 days, 10 months, 10 years application. If you do "x" how will you feel about the decision in 10 days, in 10 months, and finally, in 10 years down the road.
When you take the three different time frames to evaluate the ultimate consequences of your choices; it definitely gives a broader perspective to things we may chose to do or things we may decide to avoid. Personally, I might even add another 10: 10 minutes. Because I think in today's fast paced world there are many things people do for instant gratification that feel good in 10 minutes but actually give us great pain or disappointment 10 months later, etc.
Hans Florine said: "Live with the PAIN of DISCIPLINE not the PAIN of REGRET!" Mark Ryvola shared the same idea at a fireside recently; basically that either way you'll feel pain but that the pain of discipline is much easier to live with than the pain of regret. Choosing discipline over wants/desires of the moment can be difficult but much easier and shorter than dealing with regrets of bad choices over time.
Using the 10-10-10 ideal seems like a helpful tool. A new way to look at things! I've always been told to look at things from every angle. Guess I hadn't thought of considering lapsed time as an angle. I'll give it a try!