Operational Improvements as Core Thesis with No Ops Background
How do you identify potential areas of operational improvements without coming from an ops background, specifically as a public side investor?
I'm interested in either loan to own or public equity activist funds where turning around the core business strategy is a key part of the investment thesis, but I still struggle to see how you a) screen for and b) evaluate those bad business to mediocre business investment ideas. I get that you can run screens for margins, but how do you identify the areas of operational improvement and get comfortable that this will have a meaningful impact?
Assumes that I am 1-2 years out of banking with no access to industry channel.