Joseph M. Modica, CPA, CVA, CMC

www.dstcpa.com

Specialities

Business Assessment
Strategic Planning
Valuations
Start-ups
Turn-arounds
Negotiations

Industries

Construction
Manufacturing
Contractors
Trucking/Hauling
Retail
Banking

Client Benefits

Joe gets results for his consulting clients. His strategic planning skills and hands-on approach to problem identification and remediation have helped failing businesses turn around, established businesses grow, and start-ups prosper.

Joe believes in coaching solutions alongside management, rather than dictating policy. He also provides businesses with financial expertise and the benefit of years of industry experience. Joe shows key management and business owners how to work on their businesses rather than in them.

Professional Background

Joe is a Licensed Certified Public Accountant with over 15 years experience in private industry and management consulting. Joe is also a Certified Valuation Analyst, performig Valuation and Litigation Support Services. He is currently Manager of Dam, Snell, & Taveirne, Ltd.'s Consulting Group, which offers strategic management consulting, litigation support, and valuation.

Joe has an extensive background in Operations, Information Technology, Human Resources, and Accounting. He currently acts as an advisor to many small and mid-sized businesses and has created a range of Strategic Management Consulting Group products and services that can be customized to suit the needs and goals of clients.

Joe's professional experience includes:

Negotiating mergers and acquisitions
Performing internal control and security reviews
Creating and implementing business assessment programs
Implementing inventory costing and control systems
Creating cash management reporting systems
Consulting in the turn-around of several small to mid-size businesses
Assisting small to mid-size businesses in acquiring financing
Establishing US corporations in foreign countries and foreign corporations in the US
Designing/selecting and implementing enterprise-wide software systems
Preparing business plans and strategic plans
Facilitating small business start-ups
Assisting in valuation of several small to mid-size privately held businesses
Calculating economic damages for litigation and insurance matters

Other

In January of 2000, Joe was retained by the owners of a $64 million/year retail operation for an open-ended series of monthly financial strategy and business opportunity consultations.

Initially, the owners needed help understanding their financial position and the policies and procedures necessary for improved profitability. They were such busy people, wrapped up in the day-to-day running of their operation, they didn't take the time to understand their financials, the market trends in their retail niche, or the steps necessary to obtain financing, and improve their profitability. Joe also helped identify ways to improve their inventory management procedures.

This has never been a crisis-driven engagement; the focus has been on improvement and preventative strategies. Results have included increased market awareness and a stronger financial picture. Joe continues to work with this client to help them evaluate the various promotional opportunities they are offered.

Approximately two years ago, Joe was retained by a $3 million/year national manufacturing company.

Initially, the owners were experiencing increased sales but decreasing profits. Joe helped them formalize their organizational structure and identify the areas of accountability for each position. Joe helped them identify areas where costs could be reduced. Joe also helped them turn their marketing strategy into a sales strategy, so more of the leads generated turned into sales.

Results have included a better focus on cost control and a strong enough financial position so that they were able to weather the economic downturn of 2001. Joe continues to work with them on an as-needed basis. Joe sees areas that are still in need of improvement and looks forward to helping them.

In September 2000, Joe was retained by a short-haul trucking company serving the construction industry that had, in the past, grossed $.6 million/year. Approximately three years into new ownership, the business was experiencing declining sales and operating at a loss.

At the outset of the engagement, Joe found that no financial statements were being generated, costs were out of control, and there was no formalized organizational structure. Cash flow was also a problem since the new owners were not established names in the industry, and credit terms were unavailable. Joe worked with them to get their costs down, get the right organizational structure in place, institute financial and administrative controls and procedures, and obtain financing.

The result was a $1 million turn-around. They have gone from a loss of nearly $250,000/year to making $650,000/year. The owner's outlook on life and quality of life have dramatically improved. There are still issues to be faced by this company and Joe looks forward to helping them prepare themselves for sustained financial health.