The Sedona Oil and Gas Corporation is an oil and gas well exploration company based out of Dallas, Texas. Owner Kenny Crumbley formed the business in 1992, and has led various successful exploration ventures since. Crumbley possessed extensive managerial experience prior to starting the Sedona Oil and Gas Corporation from working at World Wide Triad Resources, Texakoma Financial, Southland Energy Company, and Future Petroleum. Crumbley used the knowledge and experience he gained from these companies to successfully form the Sedona Oil and Gas Corporation. He is aware that starting and expanding a small business can be a complicated task; however, Crumbley offers insight on how companies can successfully become larger.
• Add new locations. Crumbley notes that although he does not plan on adding any new locations for the Sedona Oil and Gas Corporation, he is still looking for ventures out of state. However, companies functioning in other industries can easily branch out geographically, which is generally the safest way to seek growth. It is important to expand where you can afford and manage, and where your product or service is desired or needed. Crumbley states that he looks for new venture locations for the Sedona Oil and Gas Corporation that have not yet been saturated by other drillers. So, companies in other industries should look for areas where competition is low.
• Enter a new market. Crumbley believes the Sedona Oil and Gas Corporation could offer more products or services in the future as they expand. Small businesses can look into expanding into new areas that relate to their business, or an entirely new area in general. If you wish to find a market that your business could expand into you can ask yourself these three questions: 1) Why do people buy from me?; 2) What customer needs do I fulfill?; and 3) What business am I really in? Once you have answered these questions you can find ways to appeal to new groups of people or introduce related products or services that will appeal to your preexisting customers.
• Add new locations. Crumbley notes that although he does not plan on adding any new locations for the Sedona Oil and Gas Corporation, he is still looking for ventures out of state. However, companies functioning in other industries can easily branch out geographically, which is generally the safest way to seek growth. It is important to expand where you can afford and manage, and where your product or service is desired or needed. Crumbley states that he looks for new venture locations for the Sedona Oil and Gas Corporation that have not yet been saturated by other drillers. So, companies in other industries should look for areas where competition is low.
• Enter a new market. Crumbley believes the Sedona Oil and Gas Corporation could offer more products or services in the future as they expand. Small businesses can look into expanding into new areas that relate to their business, or an entirely new area in general. If you wish to find a market that your business could expand into you can ask yourself these three questions: 1) Why do people buy from me?; 2) What customer needs do I fulfill?; and 3) What business am I really in? Once you have answered these questions you can find ways to appeal to new groups of people or introduce related products or services that will appeal to your preexisting customers.
