1. Identify and define the opportunity. Don't say yes to everything. Be selective. Take those opportunitites that make sense for you, your life and your business. Document the opportunity and think on it if you need to. 
2. Can you handle the opportunity on your own? Do you need a team? Do you have a referral network with whom you can connect? Anne McAuley, a friend and business colleague of mine has what she calls a Power Team. Do you have one? Do you need one? 
3. Now that you've decided that the opportunity is a good fit for you, your life or your business, you will want to evalute its potential. Brainstorm with your power team the potential and how you can capitalize on it. 
4. Implement the plan to seize the opportunity. Do you need to set aside a set period of time in your workday/week to make the most of this new project? How will you best allocate your time so that your other clients are well cared for while you pursue the new project/opportunity?
5. Capitalize on the opportunity by building a trusted referral source from this project. As a business owner I understand it's better to cultivate an ongoing relationship than to have hit-and-run clients/projects.

How do you make the most of opportunities that come your way?