(By Gil Gerretsen) Self-made billionaires understand, perhaps better than anyone else, the value of their time. Every moment counts. They don't waste time on lengthy business plans. They are always in adaptive mode, but utilize extensive reality checks to validate their initiatives.

If an idea isn't working out, they know when to cut their losses and free up that time to try something else. Part of being a winner is knowing when enough is enough. Sometimes you have to give up the fight and walk away, and move on to something that's more productive.

Super successful entrepreneurs and investors always has their irons in a number of different fires. Movers and shakers are constantly working new deals. But they don't get emotionally attached or married to any of them. Value your time and make sure that every minute and hour multiplies the value of your efforts. Get comfortable with saying no.