Time Management is generally assumed to refer to the development of processes and tools that increase productivity and efficiency. However, this does not always have to be the case. Good time management is about knowing what to do and when.
The first step in this process is determining what your end goal is – what is it that you are trying to accomplish and what is the shortest path for you in reaching that goal? Once you know this then you can plan the steps appropriately that are achievable and realistic to realize this objective in a timely and efficient manner. Along the way the things that are taking you away from this achievement should be removed or reprioritized so that they do not impact your target negatively.
In addition it is extremely important that one of your goals includes focusing on your personal life. Having huge business objectives and targets is all well and good, but without an equal amount of focus on the people that care and nurture you, the real underlying reason for your business goals just does not make sense.
A good post on Time Management unrelated to business but still applicable is available here.
Remember – the only thing that you cannot get back again is time. Once it's gone, it's gone so make sure that you are using it wisely and well.