Being time-bound is crucial for several reasons: 1. Accountability: Setting deadlines creates a sense of responsibility and urgency, making it easier to stay on track. 2. Resource Management: By allocating specific time frames, entrepreneurs can better manage their resources, including financial capital and human resources. 3. Performance Measurement: Time-bound goals enable entrepreneurs to measure their progress and make necessary adjustments. 4. Customer Satisfaction: Meeting deadlines can significantly improve customer satisfaction, as timely delivery of products or services is often a key factor in client retention.