"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:
 the benefit of others is more important than yourself;
 practicing the teachings of the guru is more important than analytical study;
 practicing Bodhicitta is more important than any other practice.
From Training the Mind & Cultivating Loving-Kindness by Chogyam Trungpa , copyright 1993 by Diana Mukpo.
(Official Chogyam Trungpa Website)
Published by arrangement with Shambhala Publications, Inc., Boston.
This site provides an on-line database of commentaries on the Tibetan Buddhist meditation practices of lojong (Mind Training) and tonglen.