Find networking platforms within your industry
Manjit moved to America in the early 1980’s and started his professional career as a Real Estate Broker for 15 years. He then got into Land Development of vacant lots where he subdivided them to build homes. After years of successfully developing land he purchased a lot containing 640 acres of raw land with mineral rights. From that day Manjit never looked back at any other project other than Oil & Gas Exploration & Production.
Manjit is now the President/Operator of a multi-Million dollar empire that is heavily focused on shallow and deep onshore drilling and also workover of existing wells that are shut in and to bring them back online producing oil.
Where did the idea for your company come from?
I got the idea of starting my own company with the inspiration of my hard-working father who taught me to follow my dreams. He inspired to to always work hard and that nothing was impossible.
What does your typical day look like and how do you make it productive?
I supervise field staff that maintains and service oil and gas drilling and workovers. I oversee testing and monitoring of wells, pumps, storage facilities and other equipment and I am also responsible for the safety of staff and production facilities.
A typical day of mine includes waking up early, head to the office to instruct the secretaries of their daily duties, head to the oilfields and instruct everyone on what their role is for the day, supervise and make sure all drilling and workovers are going smoothly.
How do you bring ideas to life?
I always start off by writing down my ideas, so I have something to refer to when it comes time to bring that idea to life. After that, I brainstorm a clear path and execute it.
A lot of the ideas that flourish into amazing concepts require trial and error. If you are not committing to something and trying to improve it, nothing can be accomplished. No good idea alone can result in a great practical working concept until or unless you build on it consistently.
What’s one trend that excites you?
The one trend that excites me is the recovery of the price of crude oil since it dropped down to the low $30 per barrel range in 2014 due to a rapidly increasing demand in emerging economies such as China and India and production cuts by the Organization of Petroleum Exporting Countries (OPEC) in the Middle East drove the price of oil.
What is one habit of yours that makes you more productive as an entrepreneur?
I like to think that I do have many habits that make me productive but the one that works best is waking up early. When a lot of people are still sleeping I wake up and start my day at 6 am and end my day at 7 pm. In that time frame I do all my work, spend time with family and try to get some exercise as well. I believe that healthy living always results in more productivity.
What advice would you give your younger self?
The one advice I would give my younger self is to buy Oil & Gas assets earlier on in life. This is easy to answer now but it is a culmination of all my past work experiences.
Tell us something that’s true that almost nobody agrees with you on.
Price of oil will go back up to the $100 range.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
The one thing I tend to do over and over is to always do my checks and balances. Having a good logging system can not only cover your basis but sets you up for all budgeting requirements in order to grow and scale your business.
What is one strategy that has helped you grow your business?
The one strategy that has helped me grow my business is to find proper networking platforms within your industry. This part is crucial because business is not about what you know, but more of who you know. If you know the right people, they can open doors for you overnight which would take someone years to open.
What is one failure you had as an entrepreneur, and how did you overcome it?
The one failure as an entrepreneur that hurt me early on in mu career was losing an Oil & Gas lease due to racial discrimination in Louisiana. I overcame it by never giving up and went onto the next project and ensured it was a success.
What is one business idea that you’re willing to give away to our readers?
One business idea I would give away is for someone to start a brokerage business. You can start at a small scale and once you become an expert within your industry, it is always easier to scale as your resource pool starts to grow.
What is the best $100 you recently spent? What and why?
The last $100 I spent was to take my family to dinner. Family is the most important thing to me and it drives me to succeed.
What is one piece of software or a web service that helps you be productive?
The one web service that helped me early in my career was joining networks that merged entrepreneurs with capital.
What is the one book that you recommend our community should read and why?
The one book that I believe changed my life was “Rich Dad, Poor Dad”
What is your favorite quote?
Formula for success: Rise early, work hard, strike Oil. – J. Paul Getty
- Rise early and work hard
- Find networking platforms within your industry
- Read “Rich Dad, Poor Dad”