ARTICLES

How IT helped two small Canadian firms achieve huge business success

By: Kavita Gosyne – IT Business

In these tough economic times, two Canadian small firms show us how flexibility and creative use of technology – can sometimes count for more than deep pockets.

While an uncertain economy is likely to impede the overall growth of Canadian small businesses over the 12–18 months, firms that adapt quickly and creatively to market changes will survive – and even thrive – through these tough times, a Canadian expert says.

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Seven Deadly Sins

The 1st Deadly Sin: Item Mismanagement

In the next installment of Seven Deadly Sins of Oilfield Service Companies, software entrepreneur Jory Lamb says not knowing where your tools are is costing you money. Here’s how to repent.

In our first article in the previous edition of Well Servicing, I outlined what I consider the Seven Deadly Sins of Oilfield Service Companies.

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The second Deadly Sin of oilfield service companies is: lack of sales process.

They are bidding out three projects, each in excess of $1 million. In fact, they are close to c

losing two of these deals. The problem is, both are in the same time frame and it’s tight. They could probably do one of these deals, no way can they do both. The president of the company finds out and he’s not happy. Where’s the sin in this lack of sales process?
It’s that they can’t deliver properly on one of the deals. That’s bad for the customers, for the company, for everyone.

Here again, Communication, Reporting, Process/Controls and Execution will avoid this from recurring.

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Seven Deadly Sins of Oilfield Service Companies – Sin #5

Software entrepreneur Jory Lamb continues his series of Seven Deadly Sins of Oilfield Service Companies.

In my years of working with oil and gas service companies, I’ve come to believe that it’s not what you make in this business that matters, but what you keep. That is true when oil is at $140 per barrel and it is even more evident when oil is at $40 per barrel.

That brings us to our next Deadly Sin: lack of internal financial controls.

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