This document summarizes Stephen Covey's 7 Habits book about habit #3, "Put First Things First". It discusses time management and prioritization. The key points are: 1) Habit #3 is about deciding your most important priorities or "compass" rather than just reacting to urgent tasks; 2) It identifies four quadrants for tasks based on their importance and urgency - the goal is to focus on important but not urgent quadrant 2 tasks; 3) Procrastination is the main block to habit #3, leading to stress, while prioritizing leads to excellence.