Note: Running weekly in FromGregsHead.com, PKF Texas – Entrepreneur’s Playbook® is a continuing series of tips brought to you by Greg Price. These run Sunday evenings during the BusinessMakers Radio Show on KPRC 950AM.
Greg: This is PKF Texas and another edition of the Entrepreneur’s Playbook. I’m Greg Price, Director of Consulting Solutions and I’m here with Scott Soles, a director in our energy practice it PKF Texas. Scott, welcome to the playbook.
Scott: Greg, thank you. Good to be here.
Greg: So Scott, what’s going on in the energy world now? There’s probably a bunch to talk about these days.
Scott: Oh man. There’s a lot to talk about. You know, the energy industry is booming again. We see that right here at our doorstep. It’s all over Pennsylvania, North Dakota, everywhere in the United States right now.
Greg: So what’s a challenge that might be going on because it’s boom time?
Scott: Well, like every boom time, you’re gonna have to risk to go with that and challenges, of course. There’s a lot of opportunity that goes with that, which is great but I would say that, you know, again, you gotta go back to some of the basics. The people challenges are always a big challenge for companies. They want quality people and there’s a big drain on that. Capital constraints – to be able to grow your company. That’s a big one and so I think those would be two of the key ones for most of our companies that we see today.
Greg: Is capital formation really tough for someone that’s trying to grow in this business right now?
Scott: It can be. I mean, it goes back to again, basics. Of course, we’ve gone through a huge problem with capital markets in recent times – 2008, or what I call the Great Depression Again. And so everybody’s had a hard time with capital but until you get up some credibility and get a little bit of business going, it’s tough.
Greg: Scott, thanks for sharing that great insight to date on what’s going on in energy business. We’ll come back to us again sometime?
Scott: Just tell me when. Glad to be here.
Greg: All right we’ll have you back. This has been another Thought Leader Production, brought to you by PKF Texas, the Entrepreneur’s Playbook. Tune in next week for another chapter and remember, if you’re an energy company doing business in Houston, give PKF Texas a call.