Spot the opportunities worth chasing in 2025
I spent my first 5 years in business doing some cool things, and we were recognised widely for our capability and innovation. But as we scaled to $10m++, I started chasing rainbows. It took several poor decisions to realise a truism: Most business opportunities are actually distractions in disguise.
According to recent McKinsey data, 64% of business leaders feel overwhelmed by too many opportunities. And the most successful companies focus on fewer initiatives, not more.
Companies that focus on 1-2 strategic priorities are 3x more likely to achieve their growth targets than those pursuing 5 or more (HBR, 2024).
The opportunity paradox
The most profitable businesses aren't the ones chasing every shiny object. They're the ones that master the art of saying "no."
The 80/20 principle: Focus on the 20% of opportunities that will deliver 80% of your results. Everything else is just noise.
Strategic patience: According to Callaghan Innovation's latest report, NZ companies that maintain strategic focus outperform their peers by 47% in profitability.
Opportunity cost: Every "yes" is actually saying "no" to something else. Make it count.
The BCG Matrix: Prioritising opportunities
Smart leaders use tools like the BCG Matrix to assess and prioritise opportunities. This framework helps identify where to focus your efforts based on market growth and relative market share:
Cash Cows: Stable, high-share areas generating consistent cash flow to fund future growth.
Stars: High-growth, high-share opportunities worth significant investment to maintain leadership.
Question Marks: High-growth, low-share initiatives needing careful evaluation—invest or divest?
Dogs: Low-growth, low-share ventures that may need to be phased out.
This could be a helpful tool as you assess your business this year.
Three questions that should help
Before you chase your next opportunity, ask yourself:
Does this align with our core strengths? (If not, it's probably someone else's gold mine)
Can we be in the top 3 in this space? (If not, you're fighting for scraps)
Do we have the resources to do this exceptionally well? (Being mediocre at many things is the fast track to nowhere)
How will you know if you’re on the right track? Here's a simple test:
Can you explain your current strategic priorities in one sentence?
If not, you're probably spreading yourself too thin.
I help founders identify and execute their highest-impact opportunities.
When you’re ready to focus on what truly matters, let’s chat by booking a call.
Cheers
Josh
