Today insideARM is running a Press Release from DCM Services (DCMS). It is an announcement that I have been named the new CEO of DCMS, effective October 23, 2017. I feel like the announcement needs a little companion story.
I started doing some consulting work for insideARM in August of 2015. In January of 2016 I joined the company full time as President, working for and with Stephanie Eidelman. I have absolutely loved my position and my time at insideARM. I loved working from home (that 30 step commute was outstanding). I was sure I was going to stay until I retired. But, every now and then, life throws you a curveball.
I grew up in Minnesota. Though I left Minnesota in 1996, I am a Minnesotan. I have diligently read the Minneapolis and St. Paul newspapers online every day since I left. I follow the Minnesota sports teams. Though I hate cold weather, Minnesota is still my home.
Several weeks ago, I was approached about the opportunity at DCMS. Having been in the industry for a number of years, I often hear from executive recruiters about potential opportunities. I have politely said “no thanks” to every opportunity since I joined insideARM. I was firm that I was never going back into the agency world again.
But, as I thought about the opportunity, I was reminded of two totally unrelated news events from the past. First, Sean Connery once vowed to “never again” play James Bond (Agent 007) after the 1971 film Diamonds are Forever. But, we know that he did return to the role in Never Say Never Again. So, a change of heart can happen to anyone.
Second, in 1985, when I was still living in Minnesota, Lou Holtz was the Head Football Coach at the University of Minnesota. When he resigned to take the head coaching job at Notre Dame he explained that he had a provision in his U of M contract that allowed him to leave for one job – the head coach of Notre Dame.
I have told people that DCMS is my Notre Dame opportunity. It was the one job that would make me consider leaving insideARM. DCMS is not a traditional collection agency. It is different. The work efforts are different. The company culture is different. It fits me.
insideARM has been a great experience for me. Working with Stephanie Eidelman has been terrific. We accomplished a lot together during the past three years. Our Compliance Professionals Forum (CPF) is thriving. We have over 200 active members.
A concept that Stephanie and I both had around the same time, the Consumer Relations Consortium (CRC), is having a positive impact on the ARM industry. There are over 30 Larger Market Participants (LMPs) that meet on a regular basis to address industry issues.
In 2015, we created a new industry conference that is truly unique. The Fourth Annual First Party Summit (FPS) will be held in Dallas June 4-6, 2018. That event has grown every year. Stephanie and I think that it is now the model for effective ARM industry conferences – collaborative, informative, and collegial.
In 2016, we also quietly launched the One-to-One Appointments Forum. We created an event that allows for intimate, pre-scheduled meetings between creditors and potential vendors. It has been a huge success. Next year we will hold our third Forum.
Our flagship product, the ARM insider, our newsletter that is delivered four days per week (Mon-Thu) has gotten better and better. I like to think that our insideARM Perspective is a huge differentiator. We not only relay the critical news, but we offer our opinion on what the news means to the industry.
Finally, I must talk about the insideARM team. Most people have no idea that a very small group of people work very hard every day to deliver all of the above products. To Aaron Steinberg, Mike Bevel, Jeff Hearn, Kerry Murphy, Berta Bustamante, Debra Panitch, and Mark Eidelman, I can only say THANK YOU. I am amazed every day at your level of engagement.
I am not leaving insideARM immediately. Ben Boyum, the current CEO at DCMS graciously agreed to stay with the company a while longer so that I could help Stephanie with the transition. I will leave insideARM on October 13th and join DCMS on October 23rd. I have a few more articles to write, and planning to do for the CRC and the First Party Summit.
Stephanie Eidelman’s Perspective
As Tim mentioned above, a few years ago we started including the “insideARM Perspective” on many of our articles. In this case I thought it appropriate to make it more personal.
Working with Tim has been a pleasure. I can truly say that – from day one – we’ve been on the same page on nearly every topic. Our philosophies on management, our approach to business development, and our commitment to doing what’s right, were completely aligned. The last several years have been a true collaboration and I will miss that greatly. Of course, I will be thrilled to return to the type of relationship that we had before – with Tim as an engaged industry leader and participant in our initiatives.
So, with every door that closes, a window of opportunity opens. As Tim will tell you, his role with insideARM has been a great platform from which to affect the industry as a whole, while stepping back from the day-to-day of managing a collection operation.
While an exact replacement for Tim Bauer may be impossible, I welcome a new chapter with an industry professional who can bring their own unique talents to insideARM. If this sounds good to you, please get in touch.