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Crude oil is trading near $50 a barrel and upstream services are hurting.
Given the siloed culture of this industry, many small oilfield business owners think the best they can do is wait for prices to rebound. Which is perfectly understandable.
I got my start in oil and gas at Drillinginfo. I was in the industry for almost four years before Mark LaCour from modalpoint taught me the oil industry isn’t just the guys getting oil out of the ground.
On the past two episodes of This Week in Oil & Gas On-Demand Radio Mark and I have talked about the number of jobs available to laid off upstream workers in midstream and downstream companies. While shifting your company’s focus isn’t as easy as getting a job, if you’re an upstream services executive or entrepreneur you can kill it downstream. If you’re interested.
You just have to search. And, as Mr. Jim Rohn once said:
Finding is reserved for those who search.
Let’s search and see what we can find.
Transforming Upstream Services to Clock Dollars Downstream
I was on the phone with friend and strategic partner, Daniel Crowley from ZAP-DRD, a few weeks ago. He mentioned a buddy of his who’s struggling to keep his barge company afloat. (pun intended. i regret nothing.) They were doing very well in the Gulf of Mexico…until prices dropped.
I pulled up the company’s website. It took me roughly 32 seconds to identify a way Golding Barge Line could weather the low oil price storm.
Do you see it yet?
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How about now?
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Still not sure? Here are the first two sentences on the company’s Safety Policy page.
All injuries and accidents are preventable. Our goal is for zero incidents. We believe that this is realistic and attainable.
Golding Barge Line clearly has a strong safety culture. When you hear the word “safety” what do you naturally think?
If you’re thinking HSE, I like the way you think.
Finding Your Sweet Spot Downstream
Safety is a major business driver across the industry. Health, Safety, and Environmental (HSE) is mission critical for every oil and gas business segment. Like it or not, the mission creep of government regulations are not going to slow down.
I should add a quick disclaimer. If you don’t work in this industry, you should know caring about the safety of oilfield workers doesn’t exist thanks to government regulations. Oil and gas is not only the largest vertical industry on earth, it’s the largest family on earth.
The money is nice, but it’s the people in oil and gas that make it the greatest industry on earth.
Government regulations and the awesomeness of the oil bidness aside, the industry spent $35 billion on HSE in 2011. That number is set to grow to $56 billion by 2030.
Anyone who wants to could get real fat and happy eating from that pie!
For a company like Golding Barge Line HSE consulting is a natural fit. Since safety is central to the company’s culture they already have an outstanding story to tell.
With the right certifications (these courses from PetroSkills would be a good start), along with the brand execution blueprint below, the company could begin acquiring downstream HSE consulting clients.
Innovation is Rewarded, Execution is Worshipped
I can hear you asking, “How the hell would they do that, James?”
I’m glad you asked.
The first thing they would need is a new page on their website. It could be something as simple as “Golding HSE Consulting”. I haven’t interviewed the executives at the company, their clients, or their closed/lost prospects.
I would have to do a heck of a lot more research to properly translate their story into HSE consulting services sales copy. But, let’s see what we can do with the copy we already have.
All injuries and accidents are preventable. Our goal is for zero incidents. We believe that this is realistic and attainable.
An outstanding tagline is the cornerstone of unshakable brand architecture. Your tagline is the needle used to thread your company story and weave the tapestry of a brand that POPS! We can do a lot with just these few lines.
- Golding HSE Consulting: Superior HSE Consulting Services (meh!)
- Golding HSE Consulting: Commit to Safety. Exceed Metrics. Make it Happen. (not bad, but a bit too B2C)
- Golding HSE Consulting: Preventing Incidents Since 2006 (i don’t know the year they founded the company, but this is nice if it’s 2006. the Ss make it pop. they hint at the company’s history of operational excellence.)
With the tagline and story in place, they could start blogging to establish their domain expertise. Of course, they would need to search engine optimize those posts and have opt-ins in the right places to rapidly grow an email list and build their audience.
They would also need a solid email “bribe”. Your bribe is the free gift you give to visitors in exchange for their email address. It wouldn’t be a bad idea to start an on-demand radio show and leverage testimonials from their employees as well.
Once the brand architecture was built-out, they could quickly pivot and start acquiring clients. Fleet docked, revenue still clocked.
Why You Shouldn’t Give a Damn About Oil Prices
With the right combination of brand architecture, storytelling, and sales acumen any small upstream services company can reach within, discover their own alternative unique selling proposition, and excel in any market.
What about you? What experience and expertise is hiding within your company? How could you rebrand your business to serve midstream or downstream and crush it no matter what?
Call me crazy (you wouldn’t be the first!), but from where I sit your philosophy has a much greater impact on company growth than oil prices ever could.
Your personal philosophy is the greatest determining factor in how your life works out. – Mr. Jim Rohn
Leave A Comment
This is probably a brand new way of thinking for many of you. So what do you think? Is it insane to think a barge company could start HSE consulting services downstream? I would love you hear your perspective. Leave a comment below.
On Tap This Week
In the Season Finale of “How Small Upstream Services Can Pivot Downstream” we’ll discuss how downstream is much more than fuel refineries. Same Tribe Time. Same Tribe Channel. Different Tribe Day; Part 2 will go live Thursday morning.
In the meantime, look for a written post on how the industry can win the culture war. We’re also shipping a brand new episode of Brand Architecture with The Best On-Demand Video Training. You will learn why oil and gas news is useless.
Of course, Episode 22 of This Week in Oil & Gas On-Demand Radio ships Friday Morning. Dino Ciccarelli will be so proud!
Stay Tuned!
The post How Small Upstream Services Can Pivot Downstream Part 1 appeared first on Tribe Rocket.
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