Three minutes cost Gary Johnson, the 2012 Libertarian Party candidate for President of the United States, his spot on the ballot in the State of Michigan. Three minutes.
Johnson originally ran in the Republican primary. At the last minute, he requested to be removed from the ballot in that primary in order to allow him to run as a Libertarian. Elections officials notified him that he was three minutes too late.
Why not just run on both? Michigan has a "sore loser" law. This prevents a candidate, who loses the primary for one party, from running again as the candidate for another party. The purpose of this is to keep intraparty disputes out of the general election, to minimize voter confusion, and to prevent parties from splitting into factions.