A real estate developer generated over $1.4 billion in sales. A carbon credit management firm that preserved 150,000 hectares in Borneo. A health organization exceeding its 2025 forecast in just the first quarter. These are just a few examples of how McKinsey Business Building—formerly Leap by McKinsey—has helped clients achieve outsized success.
Together bold moves reflect a broader shift in how companies are approaching growth today. With changes in the global order unlocking new pools of opportunity, business leaders are increasingly making business building a core engine of sustainable, above-market growth—even amid uncertainty.
McKinsey Business Building
In fact, two in three CEOs today expect to build new ventures in the coming year, and with interest rate cuts on the horizon, the conditions are ripe for incumbents to pursue new business opportunities. Yet, traditional growth levers like expansions into new geographies or M&A moves have become increasingly saturated. “What’s emerging as the critical differentiator to capture above-market growth is a company’s business-building skills,” says Daniel Aminetzah, a McKinsey senior partner and global co-leader of McKinsey Business Building.
“This doesn’t mean necessarily reinventing the wheel,” Daniel adds. “What companies often need to increase confidence on ROI is inspiration from proven concepts within and outside their sectors.” That’s where the breadth, scale, and deep experience of McKinsey Business Building comes into play to help businesses accelerate their growth ambitions.”
Why business building matters now
“After seven years and more than 700 ventures built and scaled, we’re building a broader portfolio of businesses for a broader range of clients,” says Paul Jenkins, a McKinsey senior partner and global co-leader of McKinsey Business Building. While our early focus was digital ventures, today we’re launching businesses in physical and green industries as environmental sustainability is now the second-most expected area for new venture activity in the next five years. Technological advances, such as sustainable materials and clean energy platforms, are unlocking economically viable models that were unthinkable a decade ago.
Multi-year journeys
Unlike traditional engagements that can be a few weeks or months, our business-building journeys are often multi-year commitments with fees at risk. Take the case of our work with a legacy global chemicals company to co-develop a patented technology. The project has evolved into a 20-year engagement, which includes capital injection to raise over $1 billion to deploy new capabilities for the patent. “We don’t just come in and advise,” says Stacey Haas, a McKinsey senior partner. “We’re there on the ground, changing mindsets, building capabilities, upskilling–helping businesses get it right organizationally.”
AI: A new engine for growth
Earlier this year, we launched a gen AI platform designed to accelerate how businesses are built—from ideation through scale. Clients gain access to proprietary datasets and over 800 tailored prompts that not only surface viable business ideas but also size them. Consider a recent example with a global airline: the initial hypothesis was to build a retail media network. When tested through our AI platform, the data pointed to limited revenue potential. Instead, it surfaced a more lucrative path—expanding upon an existing loyalty program that included a new credit card proposition and much broader range of retail partners.
“It was a really unexpected insight,” says Paul, “and would have taken weeks to identify and prioritize all these different ideas without the AI.” “Now, you can get there in an afternoon,” notes Daniel. This speed isn’t just about convenience—it reshapes the economics of innovation. Faster insights mean lower upfront costs and greater ability to invest in high-potential ventures.
Scaling existing ventures
Business building doesn’t only mean building from scratch. Much of McKinsey Business Building’s work involves scaling already-existing ventures—from expanding into new markets to hyperscaling proven models within venture portfolios primed as the next unicorns or decacorns.
Our latest research shows that nine in ten business leaders believe their organizations already have underleveraged assets with major commercial potential. When it comes to legacy corporates for whom launching new businesses may not be in their DNA, “we work with them to build their capabilities to do this over and over again– becoming serial business builders,” Stacey adds. “And the role of AI has only accelerated the pace with which we can do this.”
Not just incumbents
While the majority of our work is with large enterprises, we selectively collaborate with later-stage scale ups. “We often play the role of translator,” says Daniel. “Our deep industry knowledge, technical expertise, and global ecosystem of partnerships give us a unique vantage point to go to market,” he adds. Many times when a corporate acquires a scale-up company, we end up working with that scale-up team. As an example, we recently worked with a legacy corporate that acquired an early-stage startup with AI solutions. Our work for the next three years will be exclusively with this scale-up.
“Business building is real hard work,” says Arun Arora, a McKinsey senior partner. “It takes bold thinking, capital, talent. But in today’s market, it's also the most powerful lever for outsized growth. The companies that commit now will define the next decade.”