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Precision medicine for complex diseases uses individual-level characteristics to improve prediction of risk, therapeutic response and prognosis. Many precision medicine studies leverage existing data types and analytic methods to reveal new insights; however, beyond oncology, there has been limited success in translating precision medicine research for complex diseases into clinical practice. Thus, there is a need to identify areas for improvement, particularly in translation-oriented analytical methods and study designs. In this perspective article, we outline five fundamental tenets to enhance the efficient clinical translation of precision medicine research. These tenets focus on addressing (1) heterogeneity in risk, response and prognosis; (2) signal robustness; (3) structured statistical benchmarking against key performance indicators; (4) precision trial designs; and (5) risks and benefits to individuals and society. Our intention is to promote clinically meaningful, reproducible, scalable and equitable health outcomes through precision medicine, beyond those possible through contemporary approaches.