I wrote this blog post sitting on a sailing yacht, with rain and 15 m/s wind howling outside, in what ended up in being the coldest summer in 41 years. After the extraordinary spring, came an extraordinary summer – with loads of time to think and reflect while being caught in a small harbour for days due to strong winds. So here is my view on the big scale of events for ExploCrowd, including the challenges and opportunities of the last months, and what awaits us in the post holiday horizon.

Flexible access to highly specialised international scientific expertise

Today, it is exactly four years since ExploCrowd was formally founded. It is a pure coincidence that the company was registered on my birthday, but somehow it makes sense. Being an entrepreneur, the company and the ups and downs connected to it, makes up a significant part of one’s life.

Four years ago, we set out to test a combination of a business model and a new leadership model, aiming to create a strong team of high performers meeting the industry need of flexible access to highly specialised international scientific expertise. Looking back, we can humbly say that we have succeeded in commercialising technical knowledge, achieving a healthy client base with returning clients. We have become known for innovative ideas and efficient solutions to challenges, and our team culture shines through, as described here by one of our clients:

“I am very pleased with how smooth this work went and the good flow of communication between us. You did exactly what we needed. Somebody who makes my life easier and takes responsibility for a product without a need for constant supervision. I can assure you that while such a working attitude may seem normal to you it is less than common in our industry.”

We were already set up for this

Not many, if any, businesses can claim to have been well prepared for the perfect storm formed by the combines OPEC+ strategy timed with the impact of the Covid-19 pandemic.

As a cloud based, mainly virtual organisation, the remote ‘working from home’-situation due to the pandemic was not a concern for us. We were already set up.

However, like everybody else, we were hit hard financially. In March, things happened fast. Already within the first weeks, we knew that the on-going sales negotiations, framework agreements and contracts related to APA2020 would soon be terminated. Therefore, the team decided to reef the sails, meaning that everyone would be sent on furlough in order to minimise the financial impact on the company. In May, our income was down 98 % – as we were quoted for in an Upstream news article in June.

Pivoting in The Perfect Storm

We saved our energy and spent time adjusting to the new future. We focused on recharging the team, in order to be able to move fast when business opportunities would arise. And the opportunities did arise! Because people cared about our survival, but also because we were able to take a step back and make use of our agile position to pivot.

Mapping out The Future

Now we can focus on the opportunities that will take us further in the second half of 2020 and beyond. A few of these opportunities are already announced – more is to come.

In our collaboration with Exceed Norway, we will support them in their new business model, utilising our subsurface insights and geo-pressure expertise for efficient well planning to keep the cost low.
We have also been challenged to do something we have never done before: Creating a North Sea well database for machine learning – and within a very short timeframe. This was only possible through the close collaboration with LR who sponsored IC licences for the purpose, for which we are grateful. The machine-learning contest was launched by FORCE August 10th.
New sales to leading Norwegian oil companies, where our experts are put in play within exploration and development projects, have also been secured. We are pursuing more opportunities within this field.
A new Board of Directors will take ExploCrowd into the future! We are thrilled to announce that Ingvild Meland, Ulf Rosenberg and Tore Byberg have joined us – and that Mari Espedal, who played a significant role in starting the company, will continue the journey in the Advisory Board. I will continue as Chairman in a transition phase, until we find our next visionary Chairman with a growth mindset, taking ExploCrowd to the next level.
Another highlight was when ExploCrowd was promoted as a Case Story in the ‘Ledernytt Magazine’ interview with the CEO of Dreams and Details Academy, Mikael Trolle. In the interview, Trolle explains how motivation and autonomy are key aspects of the Dreams & Details leadership model, described in the book with the same name by Mikael Trolle and Jim Hagemann Snabe.

Mikael Trolle and Jim Hagemann Snabe, ‘Ledernytt Magazine’

Enjoying the view – while navigating troubled waters

Is it possible to do both?

I have to admit; this has not been the best summer for sailing. But still – being caught in the maelstrom of events during the 2020 global and industry crisis has made me appreciate looking into the horizon no matter the winds or weather. While we are doing our best to foresee future events, I am deeply grateful being based in Scandinavia, with relatively high equality and a society built on trust. Through a common goal, we can keep each other safe from the pandemic and minimise the impact of the crisis.

Are you looking for more inspiration on how to reinvent your company to make it resilient into the post-Covid-19 future? We highly recommend that you follow the two accomplished gentlemen Jim Hagemann Snabe and Mikael Trolle, in addition to their Dreams & Details Academy.

I will meet the rest of 2020 recharged and ready to set sail together with the rest of the ExploCrowd team and our collaboration partners. Fair winds and following seas!

Sidsel

Trimming the sails