IC to Manager

One of our Senior Managers told me today they are grooming me to take a team lead role in preparation for a Manager role.

I imagine this will happen over the next 1-2 years.

For those that made the leap from IC -> Manager:

What are the lessons learned about your preparation? Anything you wish you would have focused on more before jumping?

For context, I was a People Leader in the military prior to coming into the private sector.

[EDIT: Thank you for the comments and feedback everyone! I truly appreciate your insight. Are there any of you who switched from being an IC in a particular domain to a People Leader in another (e.g. SRE -> SWE or vice versa)