I spoke at AAMSE’s annual conference last week, and prior to my session, I got to see Jeffrey Hausfeld of the Society of Physician Entrepreneurs speak. During his session he asked the following question:

“Of people, money, and time, which of these resources is most important?”

Of course, my immediate reaction was “people,” but in the instant after that I thought, “It’s time!”

As Dr. Hausfeld put it, as you get older, you quickly realize that time is the most important resource.

And if you think about it, it’s obvious. Money and people can be replaced and added to. If you need more money, you can find it somewhere. And if you need more people, you can find them somewhere, too (often by using more money!). But time? You can’t find more time. It’s the same for all of us, rich and poor.

So when you’re thinking about or working on a technology project, always keep in mind that the one resource you can’t replace is time. The longer something takes, the less utility you have from it.