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Episode Info: How do you best set up your oil and gas business for financial success? What about if you want to avoid a personal guarantee loan or are unsure of how to navigate the challenges that come with financing drilling and producing wells?  This week’s podcast guest is Milan Simic, a Strategic Solutions Advisor for a CPA firm who has many years of experience in the oil and gas industry. He shares how he first got into the oil and gas industry and the different positions he’s held over the course of his career. Milan and Phil chat about networking, the financial challenges of small oil and gas operators and strategies for those who want to avoid a personal guarantee loan.  If you want to hear the in’s and out’s of cash management and finances in the oil and gas industry, you’ll want to take a listen to this episode.    Here are some of the things you can look forward to in this episode: How Milan ended up working in oil and gas His experiences of working for several oil and gas companies Why you need to network in any industry - but especially oil and gas Financial challenges and strategies for oil and gas operators   Highlights: 2:48 How Milan initially got started in the oil and gas industry 5:05 Playing basketball while in college and deciding to take a different career path 6:27 Milan’s memories of working for Halliburton and traveling for the job 8:14 Transitioning to working as the President for an Enron family office 10:39 Mentors that made an impact on Milan’s careers 11:48 Why networking is crucial in any industry 13:28 What he does in his position at Adams, Brown, Beran & Ball, Chtd. 17:03 The financial challenges of small oil and gas operators 18:41 How they help those going through a growth process 21:14 Cash management strategies for operators 25:55 Strategies for avoiding a personal guarantee lender 28:03 Milan’s advice for oil and gas operators   About Milan Simic: In 2001, Simic graduated from Stephen F. Austin State University with a bachelor’s degree in finance and accounting. He spent five years as an internal auditor at a large oilfield service company and two and a half years as a business risk services consultant with a Big Four accounting firm. Before joining the firm, Milan served as the president of a family office operation. In this role, he was responsible for growing the business, including overseeing seventeen different oil and gas project acquisitions which ranked the family office in the top 300 operators in Texas. Simic lives in Hoisington with his wife Sarah and their three daughters, Sofia, Mila, and Ana.   Connect with Milan: LinkedIn | Call or text: 281-799-4315   About SherWare, Inc. If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.   SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accoun...
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