Frequently Asked Questions Part 2 -- Back to FAQ Part 1
Q: Can you give me a brief description or mission statement reflecting the goals of Capital Recovery?
A: Capital Recovery works to find unclaimed assets,
which are owned the private citizens, then locates these individuals to
negotiate a plan of retrieving funds in the quickest and most convenient
way. Each client is provided with our full, professional attention to
ensure his/her time spent with Capital Recovery is a satisfying and
enjoyable experience.
Q: What makes Capital Recovery stand out from its competitors?
A: The most valuable aspect of Capital Recovery is
the connection of our team forms with the individuals who choose to work
with our company in recovering their funds. Each client is given the
opportunity to speak to me personally as one of the founds of Capital
Recovery who informs the individual of the unclaimed assets and
initiates a personal connection that will hopefully facilitate the
recovery process. This is especially important because we believe that
all our clients deserve our full, undivided attention for their
satisfaction and our efficiency.
Q: What was your education and previous work experience like before deciding to start your own business?
A: I graduated from the University of Iowa with a
degree in business and a minor in communication, which allowed my
business partner, Alan Dumond, and I to found Capital Recovery soon
after my graduation in 1989. 30 years in experience with unclaimed
assets has enabled us to establish Capital Recovery as a well-qualified
and trusted company among its competitors.
Q: How did this help you in acquiring the necessary skills to work with unclaimed assets?
A: Capital Recovery has been in operation for about
30 years and in that time I have been able to watch my own business and
the industry itself transform with the advancements in technology and
communication. Experience has taught me adaptability in all aspects of
my business from accommodating clients to overcoming certain limitations
by taking advantage of what is available to me. I believe that
experience is the best way to learn and I am proud to say that my
familiarity in working with unclaimed assets has allowed me to become
more aware and think more critically when it comes to future decisions.
Q: What initially attracted you to working with unclaimed assets and how did you get yourself started?
A: I was initially attracted to working with
unclaimed assets because I felt that it would offer a rewarding and
special kind of experience, but I also thought that it was a unique
'niche business'. What I mean by 'niche business' is that Capital
Recovery targets a specific group of people with a common need or
interest. I was most curious about investigative side of locating
unclaimed assets and individuals to whom they are due, but over time I
have learned to appreciate and love all facets of my business. The
feeling I get when I am able to get in contact with a beneficiary and
share the good news is exhilarating and I am truly grateful to be
helping our clients and their families.
Q: Where do you see your business in the next 5 years?
A: Right now, my team and I are working on broadening
our range of clients, which will continue to encourage our maturation
as a company and improve our effectiveness and efficiency. Overall, I
hope to expand Capital Recovery to close the gaps that currently exist
by reviewing our goals and implementing solutions which I know will
require change and cooperation.
Q: What is your current business strategy, or plan to ensure the company's future advancement?
A: In order for business to prosper, it is necessary
for a company to recognize their weaknesses, but also focus on the
strengths of each team member and the company as a whole. The
relationship we are able to form with our clients is the energy that
keeps our business running and the driving force behind Capital
Recovery's motivation and willingness to act. When addressing
weaknesses, I believe that knowledge from technology is power and
Capital Recovery is working on improving proficiency by utilizing
updated systems, organization tools, and means of communicating through
automation. In addition to technology, the management team meets on a
weekly basis to confirm the goals of Capital Recovery and make sure each
team member is contributing and executing assigned tasks.
Q: You have a diverse group of people
contributing to the business's development. What are some of the
advantages/disadvantages?
A: Many would say that having such a diverse group of
people could be a disadvantage because there are so many different
opinions and ideas, which would make it more difficult to find a balance
or median. To me, it is the best part of working with a group because
each person brings a new perspective and my favorite, eye-opening
moments are when a new member is able to look at what we have been doing
and offer a simpler or better solution. This way we are always ready to
make improvements and not become too comfortable in old habits or ways
that may be hindering our success. Compromise is a huge part of
cooperation, and every team member is willing to tweak and change
processes when necessary.
Q: What do you consider to be your style of management, more hands-on or hands-off?
A: While being able to work in a group is an
essential part of Capital Recovery's operation, I like to think that
independence plays part in the individual team member's work. I love to
find self-sufficient, potential members of my team who I am able to give
a specific task that requires responsibility, yet also allows for a lot
creative liberty and freedom to reveal their personal talent and
strengths. It's enjoyable for me to get to know the people that I work
with and watch expand their interests and discover their potential.
Q: What is the most challenging aspect of the work you do?
A: As we continue to grow and expand our company, I
understand that our process and systems will become more complex and
somewhat more difficult to understand, yet my confidence lies in the
competence of my team which I have been able to form over the past 30
years. I also understand that expansion will demand my patience and
results may not be as fast as they would have been if the company stayed
small. However, John Wooden, the great UCLA basketball coach, always
told his players "be quick, but don't hurry," and I believe that this
sums up my business philosophy which is that efficiency is important,
yet success does not happen overnight.
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