Tools to Strengthen Your Oilfield Services’ Business
The Canadian oil and gas sector faces continuous challenges in a constantly evolving local and international environment. From politics to the economy, remaining sustainable in this dynamic industry depends on being able to make the right decisions at the right time.
MNP’s Business Builder Program aims to help owners and operators of oilfield services companies uncover new ways to increase efficiencies and boost margins. Launched more than 15 years ago, the program provides clients insights and tools to create the strategies they need to move their enterprises forward.
In a candid interview, MNP Management Consultant Jory Soubiran discusses the Business Builder Program and its keys to success.
Q. How do you describe the Business Builder Program to a business owner or senior business leader?
A. Although we take all clients through the same process, each engagement is customized to their specific situation and goals. So, each conversation is unique, as the description is based on each client’s needs and objectives.
However, as a mission statement, I would say we help our clients succeed by providing business owners and managers with the tools, coaching and business fundamentals that are essential to running their businesses more effectively and profitably. We help them identify challenges and opportunities and then work with their team to develop and implement strategies and tactics that help them achieve their goals and objectives. We have also described the program as a “MBA in a Day” because of its strategic planning components.
Q. Are you targeting a certain geographic area for the program and where is it available?
A. With offices and expertise available coast to coast, we serve clients across in Canada and can adapt the program to suit their needs, no matter what industry they are in.
Q. Can you briefly describe a situation where a company completed the Business Builder Program and what they achieved from it?
A. An oil and gas company we started working with in early 2015 went through the program and even though they, like most of the sector, was hit a massive reduction in requests for oilfield services, was able to grow both his top and bottom line. The Business Builder Program gave the operator the tools he needed to improve his margins, get new customers, decease his turnover, create an incentive plan and ultimately increase the value of his company to position himself for a possible sale and maximize his return.
Q. Who are the prime candidates for the program?
A. Small- to medium-sized businesses that are facing challenges or hard times (people, operations, sales/customers, recessions, etc.) and are looking to grow their business and improve financial performance. The succession program can also address other issues such as succession planning, helping to increase enterprise value, set up structures (systems and processes, communication etc.) and can also help with strategic planning, business training and coaching.
Q. How is the program structured for business owners and leaders?
A. The program is composed of three phases, with the first tackling the organizational review and analysis. With that information in hand, we drill down, set priorities and create a strategic plan. The third and final phase of the program involves monthly owner / management meetings to review outcomes and provide on-going coaching.
Q. What do you see as some of the key benefits coming out of the program?
A. Benefits are many and can vary with each company. But some of the main ones are:
- Increase in revenue, from new and existing customers
- Improved margins, from better efficiency and quality, lean management, systems and processes
- Better culture and morale, resulting in less turnover, more productive and engaged employees as business acumen is improved through business training
- Better cash flow through accounts receivable / payable and inventory processes, field tickets
- Improved financial reporting of targets, measures and KPIs
- Increase in enterprise value
For more information on MNP’s Business Builder Program, contact Jory Soubirin at 780.978.2921 or email@example.com