Innovation In Compliance With Tom Fox

Tom Fox welcomes Cody Rodriguez to this week’s episode of Innovation In Compliance. Cody is CEO of Iron Orchard, a small private oil and gas operator that continues to thrive even in the midst of a shutdown of the energy sector due to COVID-19. He and Tom discuss his company’s risk management approach and how it informs their corporate culture. Determining Commercial Viability Tom asks Cody how they determined that Iron Orchard was a commercially viable idea. Cody responds that they had about 100 meetings with CEOs and investors, seeking their advice before deciding to go ahead and launch Iron Orchard. Even then, they decided to use their own funds for the first investments. “We want to make sure, just like in everything else we've ever done, that we did it ourselves and risked our own dollars before we ever risk anybody else's,” Cody explains. He describes how taking this approach led to increasing success as the company grew. People were willing to help them because of their humble approach. Cody says, “If