2020 Strategic Initiatives December Update

04-Dec-2020

By: Paul Danos

This will be the last strategy update for 2020 – and thank goodness! I saw a quote the other day that said, “Today marks 3 years that we have been in 2020.” If you don’t laugh or cry from that one, you must be waking up from a very long nap. What stands out most to me about our 2020 strategy is that, despite all the challenges of this year, we made tremendous progress in our plan. We initially labeled our plan “Focus 2020” to hone in our efforts to move critical strategic initiatives across the goal line while ensuring we had adequate resources to be successful. We had no idea the challenges that would test our resolve to focus and severely strain our resources. I am so very proud of the determination, creativity and hard work that went into accomplishing what we did in 2020. Here are a few strategy highlights from this year:

  • A few of our initiatives turned out to be just the right things at just the right time. We included credit management on our list of things to accomplish in 2020, although we actually started this one at the end of 2019. Not too long ago, 90% of our revenue came from the major integrated oil companies with very low credit risk. That has dramatically changed as we have grown our business. With new customers come increased credit risk, and we knew we needed to manage that exposure. Having that foresight allowed us to make it through this year very strong. Additionally, we released iCAN in February of 2020, certainly not knowing there would be increased value in the ability to test competency in a remote and virtual environment due to COVID. Lastly, when you add on that we had just recently moved to Microsoft TEAMs to enable more virtual collaboration, we had a pretty good list of things with great timing. 
  • On the technology focus priority, we rolled out the aforementioned iCAN, released our new materials management offering called i2MS (and secured our first customer) and effectively completed the new internally developed safety management system. Innovation!! 
  • We made a commitment to restart our field leadership seminars to ensure we are building strong organizational capability at the field level. The COVID lockdown forced us to pivot. Our team developed an all-virtual version of the seminar and has done a great job engaging with, developing and learning from our field leaders. 
  • When it comes to strategic positioning for the future, nothing could be more significant than our move to establish the new Danos Ventures organization. This will be a place to plug in new companies and partnerships that allow our existing Danos service lines to focus and flourish, while creating space and focus on new opportunities (renewables, coastal restoration, new service lines, strategic investments, etc.) for the company and our team members. 

When we saw the black clouds of 2020 rolling in, we said we would not only survive, but we would thrive. When I look back on our list of accomplishments this year, I am so proud of how we marched through the storms of 2020. I can’t wait to see what we will tackle next in 2021.

Paul Danos

Paul is is a third-generation owner and a member of the Danos Board of Directors. In his current role, Paul ensures the organization is living the purpose and adhering to the values that are the core of Danos. He leads the vision and strategy development and provides leadership to the highly capable executives who in turn lead strategy and operational execution.

Paul joined Danos in 2005 as project manager of the offshore construction and fabrication division and later served as vice president of U.S. operations. From 2010 to 2017 he held the role of executive vice president. From 2017 to 2020 Paul served as Co-CEO over strategic planning, business development, and the Production Operations service line. Prior to joining Danos, Paul worked at Stonehenge Capital, Arthur Andersen, and Plains All American Pipeline. He earned a Bachelor of Science in Finance from Louisiana State University and an MBA from Stanford Graduate School of Business.


 


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