11 Mar Growing Business in Oil & Gas Industry

Growing Business in Oil & Gas Industry

Simon Wallace | 11th March 2014

Company growth in the oil & gas sector in 2014 will be challenging if you read the latest reports. Factors such as the continuation of the Euro-zone crisis, rising exploration costs, new competition, and lack of political stability or social unrest in areas of operation (Middle East, North Africa etc.), will continue to affect the energy industry.

My experience confirms that challenging conditions in fact present great opportunities to grow, however I have learnt that one must first look very carefully at a situation before embarking on a strategy for growth.

My suggestion to clients is: Look back to see how far you’ve come, the lessons learnt from similar times and how the competition has reacted and performed. Look inside to confirm that your foundations are strong, meaning that: your vision is clear and inspiring; your mission is driving you profitably towards this destination; your culture is one where everyone lives your values and you can afford the journey ahead. Look outside and visualise your destination and everything that can prevent you reaching your goals.

Don’t press your growth strategy button until you confirm your readiness to grow.

About the Author

Simon Wallace is founder of The Whole Thing Group, a performance improvement addict that talks from a lot of experience. Creative entrepreneur and trusted advisor to some great companies that are achieving great things.