Can there really be a silver lining in this dark cloud that is low oil prices? Some suggest that there is, we just have to look for them. In this great article from earlier this month in Alberta Oil magazine, experts – who have been a part of this boom and bust industry for decades – suggest there’s lots of upside in the down. For example, this pause in once hurtling growth is the perfect time to take stock of operations and tool up. Take the time to heal from within, so to speak. Also, the dip allows companies with capital to spare to pick up assets and even whole companies at good prices. There’s no doubt that it’s a buyer’s market. And lastly, there’s suddenly plenty of time for training. Employee development often takes the back burner when things are busy, but is crucial to the future success of your organization. So now’s the time to get everyone’s credentials up to speed, so that when the industry picks up again, they’ll be in the best place possible to put their head down and get to work.
VistaVu has long since expounded the virtues of using these business lull’s to breathe deep, examine processes, and get things in order with your business systems so that when things get busy again, you’ll be in the best shape possible. When things move at a crazy pace like they did in 2014, there’s no time to make changes. There’s no time to take a moment to see what you can do better. You just have to do it or you miss opportunities. But you can’t maximize those opportunities – or resulting profit - if things aren’t efficient on the home front. No business runs perfectly, there’s always room for improvement.
So take that deep breath. Check out the article in Alberta Oil and then contact us see what we can do to help you rejuvenate.
Happy Friday and have a great weekend!
