Quick Questions for the People in Charge | Eric, Paul and Mark Danos

After 27 years of serving as CEO of Danos, Hank Danos has transitioned from his role as president & CEO into the role of Chairman of the Board. Third-generation owners, Eric, Paul and Mark Danos, share the responsibilities of president and CEO while continuing to oversee specific areas of operations.

Q: What is the key to being successful in business?

Our success at Danos is because of our long-term focus on our purpose and values. Said another way, we know why we exist and what we believe. This awareness of who we are as an organization is the launching point for us to find great people who share our purpose and values. Customers often tell me that the reason they do business with Danos is because of what we stand for. That’s a tremendous feeling; knowing that as a company we are known for something more than the excellent services we provide. – Eric Danos

Q: How much has your industry changed from the time you started to now?

Our industry has been intently focused on being able to operate more efficiently. Much of that burden falls on service companies like Danos. This creates both obstacles and opportunities. Through our use of technology and smart processes, we keep pace with our industry’s demand for continued improvement in efficiency. But more importantly, we focus on opportunities that are created in this continued drive for innovation. Our customers are reinventing the way they do business. They expect us to do the same. One of Danos’ strategic priorities is “Customer Centric” which means we are looking at our customers and the market to identify new ways of working. We adapt our business to fill the new opportunities that the market provides. – Eric Danos

Q: What is your forecast, economy-wise, for the remainder of 2018?

As an oil and gas service company, there is certainly optimism about the future given the steady rise in oil prices over the past year. In that same vein, there is always a lag in when our customers pass the relief they are seeing down to service companies. Activity has picked up for us, and we expect that trend to continue through 2018 and beyond with pricing relief coming sometime beyond that as the market heats up and we continue to see sustained higher prices. – Mark Danos

Q: What are the plans for the future of Danos?

We are a family owned and operated company committed to our purpose and values. Our purpose is our foundation as a company and our strategy makes up the building blocks to our future. With a strong purpose as our foundation to build upon and ongoing effort to define and tweak our strategy to remain relevant in the market space we operate in, we want to be the best at what we do, we want to solve big challenges for our customers, and we want to have an impact in the communities that we work in. – Mark Danos

Q: What advice would you give any aspiring businessman looking to start a company?

I have never started a company – I had the good fortune of being brought into a great company with the opportunity to grow it, but I suspect some of the things we have done for growth would work well when starting a company. They are:

• Find a need. Solve a problem. Fill a gap… don’t create a solution that is looking    for a problem.

• Do a business plan. So many people fail for not thinking out the details to make it all work. And get some smart people to review and challenge your business plan. Define your strategy (how you win) and your game plan to get there.

• Be intentional about purpose, values and culture that you want in the business. This is mostly articulating what is important to you in the context of your business. Those values should support your strategy.

• Start with a good team. The power of good people cannot be overstated, but the talents and strengths of your people need to make sense for your strategy. Oh, and your clearly defined and articulated purpose and values have the power to attract/filter the right/wrong people for your team. – Paul Danos

Q: The local economy has witnessed quite the struggle recently. How has Danos adjusted? 

We paid close attention to our customers. This involves asking them what they need, but it also involves watching where they are going and anticipating what they will need. We were told in no uncertain terms that our customers wanted better prices, but we set about developing alternative services and delivery models for our services that added value. We were able to do this because we have GREAT people at Danos who are committed to our purpose and values. – Paul Danos

Q: What makes a good CEO? 

A good CEO is firstly someone who personally aligns with the values of the organization they lead. This can be different from organization to organization, but a few of the things that are common across all great leaders is they have a desire to develop others, humility, and discipline. – Eric Danos

Q: Did you see yourself in this position as a child? 

Through my childhood and into my teenage years I watched my father and his brother set an outstanding example of selfless leadership. I didn’t think much about myself in the same role but did think often about being a part of Danos. When my brothers and I joined Danos and were given the opportunity to grow through the organization, I began to reflect on the examples set by my father and his brother. In them, I saw brothers sharing leadership in a very effective way, and it became natural for my brothers and me to take on similar shared leadership roles. – Eric Danos

Q: What is your greatest accomplishment as a businessman? 

Being able to play a part in leading this great family organization that has over 70 years of history in our community. – Eric Danos

Q: If you could describe Danos in one word, what word would you choose? Why?

Intentional. – Eric Danos •