This song is about having ambition and a drive to get things done. Brian May wrote the song, which was inspired by his wife, Anita Dobson, who used to say, "I want it all and I want it now." Dobson is an English television actress.
For Brian May to write such a proud and powerful anthem at the time, especially based on something Dobson said, was a statement of intent - his first marriage had broken up partly due to the affair he was having with Dobson. This caused him a great deal of depression, which seemed to come out in songs like this. Also considering this was one of the first singles off Miracle, which was around the time Mercury revealed to his bandmates that he was suffering declining health, it has all the marks of a band coming out fighting - the accompanying music video also backs this theme up. See "Scandal" (also on the album) for a similar feel, with lyrics more specifically targeted towards those 'against' Queen at that time - largely the mainstream media.
Freddie Mercury takes lead vocals on this song, with May singing and duetting with Mercury in several lines in the pre-solo bridge ("I'm a man with a one track mind, so much to do in one lifetime...").
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