Free time isn't something John Kujawa takes for granted. 

Especially after in 2007 launching Lumitec, a manufacturer of extreme environment LED lighting. 

The company, which he started to marry his knowledge of technology and product development with his passion for boating, has taken off, boasting a 937% three-year growth rate and an eight-figure annualized run rate.

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But with that early success has come a demanding schedule, one that requires him not only to be on the ground growing his fledgling 30-person business but also on the road attending industry trade shows and conferences, all the while raising three kids with his wife. 

Q: How do you manage to make the most of your time while launching and running a new business?

This is, almost literally, a daily challenge. In a startup there is never a lull. There are always many things to keep you busy. But busy does not necessarily mean productive.

To make the most of my time I always try to have crystal-clear goals at appropriate time horizons -- both long- and intermediate-term. Knowing what I need to accomplish in the longer term is an invaluable tool for prioritizing tasks and quickly differentiating distractions from potential crises.