Skip to main content
Version: 2.0

Identifying Growth Opportunities

You’re swamped. Feature requests flood your inbox, sprints are packed, and you’re constantly firefighting. It feels like growth is just a list of things to build, not a strategy to discover. But true growth isn’t just about building faster; it’s about building the right things, and that requires proactively identifying opportunities beyond the immediate roadmap. Over two decades leading teams, I’ve found that the best opportunities aren’t always obvious. They’re often hidden in plain sight, requiring a shift in perspective and a willingness to question assumptions. This isn't about being a product manager; it's about expanding your influence and helping your team contribute to the strategy of growth, not just the implementation.

The Trap of “Formulaic” Thinking​

We’re bombarded with “growth hacks” and best practices. These can be helpful, but relying solely on them can be dangerous. As Peter Thiel – entrepreneur, investor, and co-founder of PayPal – points out in The High Growth Handbook, successful people find value in unexpected places by thinking from “first principles” rather than relying on formulas. What does this mean for an engineering manager? It means challenging the assumptions baked into our product strategy.

Instead of immediately asking “How can we scale this feature?” ask:

  • What problem are we really solving for the user? Are there hidden pain points we’re missing?
  • Who isn’t using our product and why? Understanding non-users can be more illuminating than obsessing over existing ones.
  • What adjacent problems could we solve leveraging our existing technology? (More on this below.)

This kind of questioning isn’t about undermining the product team; it’s about augmenting their vision with the unique insights your engineering team possesses. You’re on the front lines of technical feasibility, scalability, and user impact. Your perspective is invaluable.

Beyond Feature Requests: Finding Adjacent Opportunities​

One of the most fruitful areas for identifying growth is looking at “adjacent opportunities.” These are extensions of your core product that leverage your existing technology and expertise but address a slightly different, often underserved, market or user need.

Think of it like this: you’ve built a powerful engine (your core technology). What else can that engine power?

Here are a few examples I've seen (and experienced):

  • From Core Product to API: A company building a successful internal analytics tool realized other businesses faced similar data challenges. They created an API, allowing others to build on their platform, drastically expanding their reach.
  • From Desktop App to Mobile: Seems obvious, right? But often the mobile version isn’t a direct port. It’s a streamlined, focused experience addressing a different user need (on-the-go access, quick tasks).
  • From Feature to Standalone Product: A complex feature within a larger application proved so valuable it spun out into a separate, targeted product.

To identify these opportunities, actively encourage your team to:

  • Spend time with user research data. Don’t just look at bug reports; dig into user interviews and feedback sessions.
  • Experiment with “side projects.” Encourage a small percentage of time dedicated to exploring new ideas (the “20% time” model, though it needs careful management).
  • Participate in cross-functional brainstorming sessions. Get input from marketing, sales, and customer support.

Seeing Growth in Unexpected Places​

Beyond adjacent features, consider looking for growth in truly unexpected places. Could your technology be applied to solve challenges in areas like education, healthcare, or economic development?

Consider:

  • Solving problems for underserved communities.
  • Focusing on efficiency and cost savings. Growth isn't always about acquiring new users; it can also be about making existing processes more efficient. Can you automate tasks, reduce infrastructure costs, or improve developer velocity?
  • Building for a future that doesn’t yet exist. What are the emerging trends in your industry? Can you anticipate future needs and position your product accordingly?

I remember leading a team building a video conferencing platform. Initially, we focused on enterprise clients. But a junior engineer pointed out the growing demand for the platform’s screen sharing feature by online tutors. This seemingly unrelated market became a significant growth driver during the pandemic – a testament to the power of looking beyond the obvious.

From Execution to Strategy: Empowering Your Team​

Identifying growth opportunities isn’t just the responsibility of the product team. As an engineering manager, you can foster a culture of proactive thinking within your team.

  • Encourage ownership and initiative. Empower your engineers to propose new ideas and experiment with potential solutions.
  • Create a safe space for experimentation. Not every idea will be a winner, but it’s important to encourage risk-taking.
  • Celebrate successes and learn from failures. Recognize and reward innovative thinking, even if it doesn’t immediately translate into revenue.

By shifting your focus from pure execution to strategic thinking, you can transform your engineering team into a powerful engine for growth. It takes effort, but the rewards – a more engaged team, a more innovative product, and a more resilient business – are well worth it.

What Now? This week, schedule a quick brainstorm session with your team to identify potential adjacent opportunities or underserved problems your technology could address. Even a 30-minute session can spark valuable new ideas.