Learn our thoughts on the US offshore industry future, how to overcome resistance to change, what’s going on with Keystone, what a spar rig is, how not to struggle moving the sales process, and the most noteworthy thing at OTC.
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Transcript of Session –
Hey, folks. Let’s learn some more about the oil and gas industry.
All right. This show we’ll be answering e-mails. Let’s just jump right to it.
Number one. What do you think is going to happen in the offshore industry in the US in the next couple of years?
You know that’s an interesting question. There’s a couple of things going on that I’m a little worried about. First is, the government has not revoke the exporting crude law which means we cannot export crude in this country. Second thing is, we haven’t increase refinery capacity, so you’re seeing an increase supply of domestic crude production, but there’s nowhere forth to go. Just like what happened with natural gas a few years ago. I really think that the fracking fields have been oversold, I think there’s a lot of wells out there that are drilled that are not completed.
I know for a fact by looking at the statistics that there is less drilled rigs this year and last year, but production keeps on going up. So to me, that’s the perfect storm to have the bottom drop out of the price of the crude. And what’s the first project that’s going to be killed or put on hold? The very expensive Ultra Deepwater and Deepwater Projects in the Gulf of Mexico. So, I don’t want it to happen, but I see it coming. Hopefully, I’m wrong.
Number two. You talk a lot about the oil and gas industry being resistant to change. How do you overcome that from a sales point of view?
All right. So the way you overcome that is you actually have to get the company that you’re dealing with to buying what you’re putting together, right? The best way to do that is something called the POC, a Proof of Concept. Basically, you go to the client and go, look, I don’t want to risk an enterprise failure, I don’t want to fail, I know you don’t want to fail. Let’s do this in a small scale to select group of users on your side, I’ll bring the best buyers from my side, I’ll pay half, you pay half and we’ll do a proof of concept.
What that does in reality is it gets your client’s top people involved in building the solution or product. And when they’re finished they have ownership in it, so guess who sells it to the company? Not you and your sales team, these guys that work for the company.
So, if you need some help, reach out to me, I can walk you through it. We do it all the time, it works fantastic.
Number three. What’s going on with Keystone?
It’s so screwed up. Look, it’s been five years, five reports, there’s been zero jobs created, zero money realized from it. Our political system needs to get off its high horse and realizes when the best thing is for Americans. You know, once Keystone is lit, you’re looking at 42,000 new jobs plus 3.4 billion, not million, billion with the B added to our GDP. We just need to get it done.
Number four. What’s a Spar Rig?
A spar rig is an offshore rig that’s kind of like an iceberg, right? Most of the rig is below the surface and you don’t see it and all you see is the top side and the controls. It’s a really good way to work deep water, they’re very stable, they’re very safe. It’s one of the bigger tools in the global deep water place is a spar rig.
Number five. My sales teams managed to set up meetings with oil and gas professionals, yet we really struggle moving to the next part of the buying process. Thoughts?
Yeah. I can tell you exactly what you’re doing. You can meet with people all week long that working in oil and gas industry that have budget, but you’re talking to the wrong people. You have to get a laser focus on the problem that you solve and who recognizes the value having that problem solved, and that’s who you need to talk to. I know it’s great that you can talk with all these other people, but really you’re wasting your time.
In the oil and gas industry, it’s actually better for sales team to figure out quickly who they don’t want to spend time with, so you can concentrate with the people that you do want to spend time with.
Number six. Thanks for chatting with me [0:03:24][Indiscernible] at OTC a couple of weeks ago. What was the most noteworthy thing that you saw at this year’s show?
So the most noteworthy thing isn’t something that I saw, it’s something that happened – social media. Oh, my God, tweets and LinkedIn and all the – Facebook. I just cannot believe that OTC drew that much social media attention. It’s about time, this industry has always lagged behind with the rest of the industries do. But it was really great to see.
And then finally, if you missed out on those 19,000 contacts that we promise – the oil and gas contacts, we’ll throw a link on the show so you can actually download it for yourself.
So hopefully this helped. We will see you next time.