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Element 24. Resources Available > Practical Experience—This Deserves the Maximu...

Practical Experience—This Deserves the Maximum Weight of 3

Be prepared for surprises. This is the one area where assumptions are easy to make (certainly the vendors would love a new outlet for their products), but in a surprising number of cases the assumptions prove to be wrong. The lesson? Be careful—confirm the availability of the resources before you count them in your “win” column. In the oilfields in Russia, quite often idle resources inspire the creation of new ventures (at least within these last 10 years or so). For example, using natural gas to fuel public transportation (rather than burning it off at the well head), converting byproducts in the petroleum fields into a goo used for the repair of local roads, or using construction capabilities in oil field exploration for the creation of new public roads. These are simple resource excesses that often inspire entrepreneurial activity and advantage, based upon their easy availability. However, it has been a challenge to lock up the resources, even on a non-exclusive basis. What can seem obvious can be extremely difficult to convert into reality.


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