Is there a better way to code this text adventure game? This is my first attempt with a basic text adventure game, and I was wondering if there was a way to make it more efficient (or any other things I could add to make the game better).  It isn't totally finished yet, but if there is a way to make it better, please post in the comments.

#lets me use the exit function
import sys
#Lets me use the time function
import time
#Want to play loop

    #asks for name
name = raw_input('What is your name, adventurer? ')
print 'Nice to meet you, '+name+'. Are you ready for your adventure?'
while True:
    ready = raw_input('y/n ')
if ready == 'y':
    print 'Good, let us start our great adventure!'
    break
elif ready == 'n':
    print 'That is a real shame...' 
    time.sleep(1)
    print 'Exiting program in 5 seconds:'
    time.sleep(1)
    print '5'
    time.sleep(1)
    print '4'
    time.sleep(1)
    print '3'
    time.sleep(1)
    print '2'
    time.sleep(1)
    print '1'
    time.sleep(1)
    sys.exit('Exiting Game...')
    break
else:
    print 'That is not a valid answer... Try again'
    time.sleep(2)

#First level loop
while True:
print 'You awaken on the ground of a great forest. You can see two possible things to         do, enter the cabin to your left, or wander through the woods.'
print ' '

print 'Where do you want to go?'
FirstDecision = raw_input('cabin/woods ')
    #Cabin option
if FirstDecision == 'cabin':
    print 'You approach the door to the cabin, luckily it is unlocked.'
    Cnt = raw_input('Enter &lt; to continue')
    print 'You open the door and walk through, only to hear a dry and shaky voice say:'
    print '\"Get out.\"'
    Cnt = raw_input('Enter &lt; to continue')
    print 'What do you do?'
    FirstCabin = raw_input('leave/fight ')
    if FirstCabin == 'leave':
        print 'As you run out the door, the voice shoots and kills you.'
        Cnt = raw_input('Enter &lt; to continue')
        print ' '
        FirstRetry = raw_input('Try again? (y/n)')
        if FirstRetry == 'y':
            print 'Restarting back at checkpoint...'
            time.sleep(2)
        elif FirstRetry == 'n':
            print 'That\'s a shame...'
            time.sleep(1)
            print 'Exiting program in 5 seconds:'
            time.sleep(1)
            print '5'
            time.sleep(1)
            print '4'
            time.sleep(1)
            print '3'
            time.sleep(1)
            print '2'
            time.sleep(1)
            print '1'
            time.sleep(1)
            sys.exit('Exiting Game...')
            break
    elif FirstCabin == 'fight':
        print 'You turn to where the voice came from and you bluntly say \"No.\"``
A couple things. First of all, you should abstract the function that exits the game:

def exitGame():
    print 'That\'s a shame...'
    print 'Exiting program in 5 seconds:'
    for i in range(5):
        time.sleep(1)
        print(i+1)
    sys.exit('Exiting Game...')


Second, I would probably push Cabins, retries, etc. into arrays.

DECISIONS = []
CABINS = []
CONTINUES = []


Third, I would define the first level as a function so you can do the gracefully exit:

EXIT_MESSAGE = 'Exiting Game...'
#First level loop
while True:
    try: firstLevel()
    except SystemExit as e:
        print(str(e))
        break


One last thing. Use print as a function and not a statement. And maybe it's personal preference, but I find string formatting strongly preferable:

print('Nice to meet you, %s. Are you ready for your adventure?' % name)