Fairfield Energy of Colorado Springs was an oil and gas drilling company that experienced much success in large part due to their willingness to act as a true venture company. The term “venture” connotes a certain amount of risk; a risk that is assumed and mitigated by the leaders of the company as they continue into unknown territory. Below are some basic tips that encompass the spirit of a venture company and allow some of the more authentic ones to become truly successful.
Be Willing to Go Where Others Don’t
Fairfield Energy of Colorado Springs was so successful in their ventures because they had a willingness to find drilling areas that had previously been classified as dry by their competitors. By applying a few different techniques and placement strategies, they at times got the pleasure of proving their competitors wrong. Of course, there were failures along the way, but the return they got for the risks they took compensated for the loss and went beyond to earn them profit.
Have A Sound Strategy For Each Turn
It is also important to be a good planner so that when your venture goes beyond or below your expectations, you have steps in place to make sure that you can quickly bring the venture to equilibrium.
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