"This time" refers to this lifetime. You have wasted many lives in the past, and in the future you may not have the opportunity to practice. But now, as a human being who has heard the dharma, you do. So without wasting any more time, you should practice the main points.

This teaching is threefold:

[1] the benefit of others is more important than yourself;

[2] practicing the teachings of the guru is more important than analytical study;

[3] practicing Bodhicitta is more important than any other practice.

From TRAINING THE MIND by Chgyam Trungpa, 1993 by Diana Mukpo.
Published by arrangement with Shambhala Publications, Inc., Boston.