Understanding the potential for growth within your business is an essential part of strategic planning. It helps you not only understand where you are but also guides your steps on where to go next. A well-devised growth opportunity assessment approach is a critical tool for this task. The approach, with its various steps, allows businesses to analyze their current state, identify potential opportunities, evaluate their attractiveness, explore strategic alternatives, and validate against business requirements. This article evaluates this approach, emphasizing its strengths and potential challenges.