Things I've learned - Transitioning quick

If you aren't moving in a forward direction, then you are losing
time. A transition is not free time.

After locating and setting up my transition area I will walk to the
entrance, and sometimes all the way to the exit of the water, at the
coral. I then walk through it as if I was transitioning. I look for
visual clues to locate my spot. I have also been known to bring
little orange flags (That you can find at the hardware store), but I
haven't had a bike position that's been so hard to find that I felt I
needed them. I run through my bike transition in my head to make sure
that all of my gear is properly laid out. I then walk to where I will
exit and repeat the walk through and mental task into the run.

I may be a little paranoid, but after this walk-through things have
gone really smooth during my races.

Make sure I have my goggles, cap (Wetsuit if I'm using one) and have
removed any unneeded items (shoes, shirt, etc) and head to the water.
If I'm wearing a wetsuit, I may pack some gels on me. I've also seen
people wear their race number under their wetsuit.

Exit the water, remove cap and goggles, (SKIP - if you don't have a
wetsuit) pull down the zipper on the wetsuit as I'm SPRINTING to your
bike. Remove both arms from the wetsuit. Get to my transition area,
throw my goggles onto the towel and just remove my feet from the legs
(Make sure you practice this before the race. Also if you put Body
Glide on your legs, this goes a lot easier.) (END OF SKIP) Rudy Project glasses
on, Rudy Project Syton helmet on, then grab my bike and go. Remember if you get on your
bike without your helmet strapped, it's a disqualification. Put my
shoes on while I'm moving.

End the bike, take my shoes off before I get off the bike, pedal
barefoot, and then dismount in the dismount area. As I run back to my
spot I unstrap my Garmin GPS, so that I can use it for running. Once
I get back to my spot and rack my bike I remove my helmet. Sometimes
I take my glasses off and sometimes I don't depending on the weather.
I slip my feet into my shoes. Before I leave the transition area I
grab my race number and Honey Stinger hat to put on while I'm moving.

Any questions? Hope this helps.

I wish I could of read a step by step account like this before my first race.