In the whirlwind of manufacturing leadership, it’s easy to feel pulled in a hundred directions. From balancing daily operations to pursuing long-term growth, the demands never seem to let up. And if we don’t take intentional action, they never will.
But we don’t have to stay buried beneath a pile of daily tasks and long-term planning. The most successful executives avoid this treacherous cycle because they share one crucial trait: they identify and focus on their most important opportunity, complete it, then move on to the next one.
Your most important opportunity is the big-picture strategy that matters most for your company’s success in the future. This is a long-term play. That’s why so many manufacturing leaders struggle to focus on one opportunity: it feels like they’re wasting time because the results are so delayed. Instead, they’d rather focus on a daily to-do list. At least that’s easy to measure and feels like you accomplished something at the end of the day.
But here’s the key: your most important opportunity isn’t just another priority on your to-do list; it’s the goal that defines your to-do list. By narrowing your focus to one overarching goal—whether strategic, financial, or personal—you can make meaningful progress without draining your energy, feeling like you’re just treading water, or getting small projects done with no long-term goal.
Defining Your Most Important Opportunity
How do you know what your most important opportunity is? Start by asking yourself: If I could achieve just one thing this quarter, what would have the biggest impact on our company’s success?
You’ll come up with more than one answer. Rarely do we sit down with clients who either already know their most important opportunity, or identify it on their first try. More often, clients tell us where they want to go, the challenges they’re facing, and we use those two data points to identify the path that will get them to where they want to go.
Let’s break down three common types of opportunities and explore how to define them:
1. Strategic Opportunities: Changing the Business
Strategic opportunities often center on growth (although they don’t have to). This could mean expanding into a new market, launching a product, or deepening relationships with your key customers. Of course, if your strategy is to shrink the company to weather an upcoming or ongoing challenge, you wouldn’t enter a new market or launch a product, but you might focus on strengthening existing customer relationships.
To give more of an example, imagine your team has identified a high-growth customer segment that is adjacent to the segments you serve now. You don’t currently operate here, but it’s a natural transition for your company to enter this new market. After some discussion, you decide this is your most important opportunity, and come up with three major initiatives for pursuing it: tailoring production to this new segment’s needs, adjusting your marketing strategies to appeal to them, or equipping your sales team with the tools to succeed in a new way.
Real-Life Example
I’ve seen this in action with regard to e-commerce. A sales channel that used to be seen as only B2C and only for lower-cost items is now being used for B2B products, even those with hefty price tags.
Savvy companies have recognized that many of their customers value the convenience and speed of online purchasing, and so have offered this for their products. This is no short-term to-do list item to knock out on a Monday. This is a long project that requires planning and preparation. Within this strategic opportunity, are hundreds of smaller initiatives that have to be completed, usually in a specific order, to seize the opportunity.
2. Financial Opportunities: Unlocking Resources
Strong cash flow is the foundation of a thriving manufacturing business. Financial opportunities might involve improving AR turnover, reducing operational costs, or freeing up capital to reinvest in critical areas like technology upgrades or workforce development.
For example, reducing AR turnover by just five days could unlock enough cash flow to fund a new piece of equipment or accelerate R&D efforts. Financial goals, when tied to strategic objectives, amplify their impact across your business.
Real-Life Example
One of our clients had a product line that was two years on the market with underwhelming results. There were plenty of opportunities this client identified that would improve the performance of the product line, but ultimately they decided that their most important opportunity was to make every effort to improve the profit margin of the line and prove whether or not it was sustainable.
They focused on this opportunity, built a list of initiatives that would improve profit margins, and over 6 months increased profits by 300%, simply by getting focused on their most important opportunity.
3. Personal Opportunities: Making Time to Lead Strategically
As a leader, your ability to guide your team strategically can determine your company’s trajectory. Unfortunately, many executives get trapped in daily operations, leaving little room for high-level thinking.
A personal opportunity might involve delegating more effectively, carving out dedicated time for strategic planning, or even taking time to recharge so you can lead with clarity.
Real-Life Example
A leader I work with on a 1-1 basis was stuck in the day-to-day when we first got started. This leader committed to one half-day per month on which they would clear their calendar, set an email auto-responder, turn off their cell phone, and plan.
Not only did those four hours yield great results on the long-term plan, but this leader realized they weren’t so desperately needed at the plant that they couldn’t get away now and then.
They’re still involved in the day-to-day, but now they have a clear long-term picture of where the company is headed, and more freedom to step away on a regular basis.
Putting It Into Action
Once you’ve identified your most important opportunity, the next step is to operationalize it. Here’s how:
- Clarify the Objective
Write it down in a single, clear sentence. For example: “Reduce AR turnover by five days to free up $500,000 in working capital.” Objective, measurement, purpose. - Communicate the Goal
Share it with your team. Ensure everyone understands how their role contributes to achieving this goal and get buy-in from any stakeholders. - Create Accountability Systems
Assign ownership, set measurable milestones, and schedule regular check-ins to track progress. - Stay the Course
Avoid distractions. Commit to this goal for at least 90 days to make meaningful progress. Any less time and you won’t make good headway. Any longer and you might just be spinning your wheels. Have a deadline to check in on this project.
The Bottom Line
Your most important opportunity isn’t just another task—it’s the foundation for long-term success. By identifying a single focus, aligning your efforts, and committing to action, you can create a positive ripple effect across your business and your own daily schedule.
Do you know your most important opportunity this quarter? Take the time to define it today, communicate it to your team, and commit to working on it.