[throwaway4233]

My 2 cents on this as I transitioned within the same company,

1. Your existing relationships will factor into your work. You might carry over existing biases. Your rapport with your peers will decide how much successful your decisions on running the team are met with early on. This is also a double edged sword since you might find it difficult to make harder decisions as a leader and a good colleague might not be always a good employee.

2. Advantage on solving existing problems since you have faced them as an IC and now may have the necessary knowledge, power and contacts to solve them. Do be careful to identify if they are solvable first as these problems may appear very different from the point of view for a manager.

3. You might feel the need to solve a coding problem or architect a new feature since you might have exposure or knowledge on the same, but you would have to play a different role in it since you are no longer a contributor but a manager.