The precision medicine revolution has progressed more slowly in psychiatry than other areas of medicine. In this presentation, I argue that this is because the focus of precision psychiatry up to now has been on under-powered studies of biomarkers predicting differential response across psychotropic medications. Such studies have a very low likelihood of yielding useful information, especially given the lack of substantial variation in mechanisms of action of comparator interventions. However, there are other great unexplored opportunities for precision treatment planning in psychiatry. An overview of these opportunities is presented here along with discussion of some illustrative ongoing studies.