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Seize the day: Five factors in identifying best opportunities

How can leaders figure out which are the best possibilities for them to pursue?

In some cases, the reward for effort will often carry more weight than the monetary consideration. File photograph: Getty Images

Many leaders and teams are blessed with far more opportunities than they can possibly seize. How do you evaluate which ones you should choose? Here are five critical factors to consider when scouting for the right opportunities:

1. Ability

Will this opportunity utilise your unique talents and abilities? Does it showcase your greatest and best personal skills?

2. Reward

In some cases, the reward will often carry more weight than the monetary consideration. For example, speaking to a small group of teens at a crisis centre could be more rewarding than speaking to a large audience that may drive a six-figure revenue. The impact on the teens becomes a benefit that can outweigh the financial compensation.

3. Enhancement

You can’t experience maximum growth without stepping outside of our comfort zones. It is outside of that zone where the magic happens. If an opportunity requires you to grow, it might be worth taking it.

4. Appreciation

In a business opportunity, appreciation means an increase in value for the audience or customer base. Include the potential increase in engagement, loyalty and willingness to buy in your assessment of a potential opportunity.

5. Referral

Consider if an opportunity is bound to be a dead-end or a one-off experience. Far better is an opportunity that yields referrals to new customers, new opportunities to market the business, etc. – Copyright Harvard Business Review 2017