A focused project can be a good place to start when one problem has a clear cost and a clear fix. If the problems are spread across the business, a wider review may make more sense. Let what you find shape the work.
When one problem is clear
I once talked through an example with an operator: a larger company may have one referral problem that costs about $150,000 a year. If the number is sound and the fix is clear, the company could start there. It can judge that work on its own.
A focused project can also help the company see how the work gets done. The operator may learn more about the business while fixing the first issue. That can point to other work later, but it doesn't have to.
When the problems add up
A smaller company may have several leaks. One could cost $15,000 a year. Another might cost $20,000. A third might cost $60,000. Those are examples, not a forecast. But they show why fixing only one issue may leave a larger problem in place.
In that case, look at the costs together. A wider review can show whether the problems share a cause and who needs to own the fix.
Choose the work after you learn the facts
Before you decide, ask:
- What's going wrong?
- How much might it cost each year?
- Who owns the fix today?
- Are other problems tied to it?
- What work can one person take on?
Use the facts to choose the work. If one costly problem has a clear fix, start there. If several problems are adding up, review them together. Then name the person who'll own the work before you put the business on the market.
If you're preparing to sell, read how a focused first engagement can work. Then find an operator who can own the work your business needs.