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But for Sran Smutkochorn, managing director Yum Restaurants International (Thailand), the more effectively you manage time the more competitive advantage you gain.

One of Sran's biggest successes was being the chief executive at Yum Thailand when he was only 30 years old. However, this great success also came with a precious life lesson - he suffered a heart attack.

"People normally realise the value of time when they nearly have no time. Surviving the heart attack made me realise how important each second is. I, therefore, spend my life like each day is the last. [I] do whatever I want to, whatever I should and never procrastinate," Sran said.

Appreciating the value of time, Sran loves collecting watches. Not only just as a hobby, but also to remind himself to make every moment worthwhile.

"My favourite watch is Patek Philippe. But it does not mean that the others are meaningless. To me, all of them have value themselves, as they are timeless timepieces," Sran said.

During his weekends, apart from visiting KFC and Pizza Hut stores, playing golf and reading books, Sran spends time on his own, staying calm and doing nothing. There is a reason for this, too.

"When you are at the top level, work is not only in the working hours. You may have to contribute your leisure time to visit customers, [conduct] meetings abroad and so on. So, you have to find some time for yourself, to think about what you have done, what you are doing and what you plan to do. These help you remain conscious and manage your time effectively. As a result, you can increase your productivity and work more effectively," Sran said.

Sran sees everything in life as a lesson. He learns new things each day from those around him. He believes it is not wrong for people to make mistakes. But learning from the mistake is essential.

Life is short. You never know when your last day will be. So there are only two choices - now or never. Make up your mind now.