Joseph C. Worth

Providing CFO services and Business Transition Services in Metro NY/NJ and surrounding areas

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About Joe

Joe Worth

Wall, NJ CFO

38 Years of Experience

Direct Contact

jworth@b2bcfo.com

732-977-9218

Universities:

Harvard College (BA in Economics)

Harvard Business School (MBA)

Certificates & Licenses:

Certified Business Transition Expert

Integrity Selling Facilitator

Integrity Coaching

Organizations:

Financial Executives Networking Group (FENG)

Monmouth Ocean Development Council (MODC)

Shark River Cleanup Coalition

Corporate Resource Alliance (CRA)

The 24 Chair Group

Contact Joe Worth and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™







Joe’s Bio

Joe has 30 years of financial and general management and transaction experience in diverse industries. He has been the full-time CFO of one mid-sized publicly-held company and four small- or mid-sized privately-held companies. Earlier in his career, Joe was the President of a "rust belt" manufacturing company, the Sales Manager and Marketing Manager of a high-tech equipment manufacturer, a financial consultant, and even a computer programmer and a naval officer.

Joe's broad experience helped to build his generalist approach to companies and problems. He has worked in insurance, software, manufacturing, printing, office products, investment, consulting, telecom, and service industries. He has managed and advised companies at virtually every stage: start-up, high growth, steady-state, shrinking, closing, turnaround, and bankruptcy.

Joe's strengths include analytical and creative problem solving, implementing and improving operational and financial processes, grasping new situations quickly, fostering collaboration and team building, and project management. He is an expert business planner who has reviewed or built countless successful plans, including start-ups of both B-to-B and B-to-C web-based companies. He complements the depth and breadth of his experience with wisdom, enthusiasm, energy, and a positive, can-do attitude.

Joe is an invaluable resource for planning and executing diverse financial transactions. He has successfully led an over-subscribed IPO, has raised many rounds of follow-on public equity and venture-backed private equity, and has negotiated or restructured various types of bank loans. Joe has closed numerous acquisitions, handling the purchase/sale agreements, performing due diligence, closing the transactions and assisting in the financial and operational integration. He recently handled all the financial work in the sale of a software company to a private equity fund.

Joe's experience as a CFO extends to nearly every aspect of a business's financial needs. He has helped companies forecast cash flow, restructure debt, renegotiate bank covenants, reduce receivables, reschedule payables, raise margins, improve month-end close procedures and efficiency, implement stock option plans, and initiate retirement plans. Joe has also opened new domestic and overseas headquarters and facilities, negotiated leases, initiated and managed bank relationships, negotiated supply contracts, established purchasing controls, and overseen annual audits. He can also provide a wealth of knowledge on issues like human resources, legal matters, business development, and sales compensation plans.

Joe has developed expertise in building and maintaining diverse professional relationships. He is particularly skilled in dealing with bankers; he even founded and served as a director of a successful community bank. He has served on Boards and has made countless presentations to them, leaving him extremely comfortable with investors and in the Boardroom. He is also accomplished in building solid and effective relationships with attorneys, insurance and real estate agents, and vendors.

Joe earned his undergraduate degree from Harvard College on a Navy ROTC scholarship and his MBA from Harvard Business School. After serving in the Navy and Navy Reserve, he retired as a Captain with 23 years of total service, including a combat tour in Vietnam. When not working, Joe is an accomplished sailor and navigator. He has sailed halfway around the world including passages of the Indian Ocean, Red Sea, Suez Canal and Atlantic Ocean. His wife is an executive Nurse Practitioner managing the medical care of residents in eight long-term care and subacute rehabilitation facilities. Joe is exceedingly proud of his two grown daughters, one a Registered Nurse in a surgical/trauma/burn ICU and the other a Rhodes Scholar and an attorney from Yale Law School. Best of all, they are both great people.

Joe is a frequent speaker to business groups on the challenges and opportunities of planning a successful business transition.

Joe's unique skill set and sterling character make him an ideal partner for entrepreneurs keen to focus their own energies on growing and realizing the value of their businesses.

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Recent Articles

Jun 29Joe Worth

Is a SWOT Analysis important to your financial health?

Jun 29Joe Worth

More often than not, when I meet business owners and they start talking about their financial challenges, it becomes apparent that they do not have or follow a coherent strategy for their business. One way to get started with basic strategic planning is with a SWOT Analysis. Most business people have heard of the SWOT Analysis, but do you really know what it is and how it can be of value to you? Meagn Flores, Vice president of AchieveIt, recently

Jun 16Joe Worth

How Do I Attract a High Multiple for My Company? – The Business Factors

Jun 16Joe Worth

An enormous amount of content is published on buying and selling businesses. Today I’d like to focus on one of the areas of building your exit strategy that should concern every business owner – how to increase it’s valuation. Most of us know that a rule of thumb for valuing a business is using a multiple of EBITDA (Earnings Before Income taxes, Interest, Depreciation and Amortization). Using this formula, there are only two ways to increase valuation – a higher

Nov 17Joe Worth

Small Business CFO: Do You Need One?

Nov 17Joe Worth
Small Business CFO

Janine Popick, CEO and Founder of Dasheroo, wrote in Huff Post Small Business about her experience with financial staffing as her previous business, VerticalResponse, grew. These experiences weren’t all positive! Read the article here… Janine found, like many others, that she was slow in upgrading her financial staff as her business grew and she built her infrastructure. She was late bringing on increasing levels of experience and expertise, all the way up to the CFO, and this caused serious problems. In my

Nov 12Joe Worth

Check With an IP lawyer Before you Buy or Sell a Company

Nov 12Joe Worth

Most of us understand that well-protected intellectual property (IP) assets are valuable, if “off the books,” assets of a company. But what role does IP play in valuing and selling your company? IP attorney Andrew Grove recently wrote for the PEHub Network about the role of IP in buying or selling companies. Read the article here… While most business owners realize that IP is something they should pay attention to, it’s often one of the last things that rise to the top

Oct 22Joe Worth

6 Ways To Analyze Expense Trends

Oct 22Joe Worth
Six Strategies For Analyzing Expense Trends In Your Business

While most every entrepreneur knows that watching and controlling expenses must be done, many don’t know where to start. Here’s a primer on how to analyze your business expenses.   Analyze the Income Statement For every line item in the operating expenses, calculate the dollar amounts and percentages of revenue. (Your accounting reporting system should be able to spit out “canned” reports like this very easily.) How do they compare to last month? To the last three months? To the

Mar 20Joe Worth

Is Your Workspace Too Expensive?

Mar 20Joe Worth
Is Your Office Too Expensive

In a recent New York Times Business blog, titled “Are you paying too much for space”. The editors gave some good advice to answer this question. Read on below to figure out how to answer this question for yourself.      Am I paying too much for office real estate? Estimate your budget. What can you afford? It is better to have a smaller office and stay in business, than pay too much and be forced to close your doors.

Nov 27Joe Worth

4 Reasons Companies In Trouble Stay In Trouble

Nov 27Joe Worth

My friend Josh Patrick recently blogged about four reasons that companies stay in trouble. Excellent article that you can read here. In summary, Josh’s reasons are: Problem – the business doesn’t have a business model that generates cash. Recommended solution – get a dashboard that includes measures of cash and cash needed in the near future. Problem – the owner doesn’t listen to others. Recommended solution – Employees are not the “others” to listen to. Problem – the business doesn’t have focus.

Jun 7Joe Worth

Do you own a "micro-business" in New Jersey? And is this a good thing?

Jun 7Joe Worth

My friend Josh Patrick recently blogged about the concept of the “micro-business.” This is another term for a “lifestyle business.” Josh defines a micro business as “one that employs less than five employees and is not designed for transfer.  It is designed to benefit the owner and often is a second or third career.  People who start micro-businesses are providing a product or service that requires few people and is simpler to run than larger businesses.” Read his blog here. I

May 24Joe Worth

What can we learn in New Jersey from a VC in LA?

May 24Joe Worth

Mark Suster is a Venture Capitalist with GRP Partners in Los Angeles who is very active in social media. He recently wrote an excellent article, Morning in VC, about the outlook for venture capital fund returns in the next decade. His main point is that looking at VC fund returns, which have been terrible, of the last ten years are not a good predictor of what will happen in the next ten years. “So what?” you say! What does that

Oct 4Joe Worth

Business-for-Sale Market Shows Improvement

Oct 4Joe Worth

Barbara Taylor reported some mostly good news on the small business sale market in the New York Times here. It seems that the market  has started to turn positive for sellers. This was predictable – but not when – and is following the pattern set for the last three decades. For the tiny minority of business owners who have gone through a holistic exit planning process, this means they are ready to take advantage of this when they want to.

Sep 29Joe Worth

Thinking Out of the Box on Revenues

Sep 29Joe Worth

I recently read this news story about a business owner here in New Jersey that made an unusual decision to market his software product through resellers rather than direct to end-user customers. Read the whole article here. This has resulted in building a substantial and successful business, because the owner “thought out of the box” when building his business. This is what owners need to be doing – Finding business rather than Minding the store or even Grinding away at

Aug 1Joe Worth

Gourmet Guru wins Small Business of the Year Award

Aug 1Joe Worth

My client Gourmet Guru <website> was recently presented the Small Business of the Year Award for the Bronx by Mayor Michael Bloomberg. Read more here. A while ago I helped them get a $6MM bank loan package to finance the purchase and renovation of an enlarged facility, renovate their existing facility for rental and an expanded operating line of credit. We closed that group of loans in the midst of the financial meltdown with a bank that had changed ownership

Aug 1Joe Worth

Signaling turnaround, SBA announces surge in N.J. business loans

Aug 1Joe Worth

NJBiz posted this story reporting on the substantial increase in SBA loans approved in New Jersey in the quarter ended June 30th. This is great news for small business, of course. One of those loans approved was a $500,000 term loan under the SBA 7(a) program to one of my clients! My client’s business is growing fast and in need of working capital to continue their expansion. They are profitable, have positive cash flow and positive equity on their balance

Jul 28Joe Worth

Are You Paying Too Much for Space?

Jul 28Joe Worth

In a recent New York Times Small Business blog, the editors asked this question. They then listed some advice to figure out the answer: Be proactive. Get out in front of your lease so you have to time to create options. Start looking a year ahead if possible. Hire a real estate broker. A good broker knows the local market and material facts about specific buildings: environmental issues, whether the owner is in bankruptcy, how long it’s been vacant. Those

Jun 17Joe Worth

Five Things I Wish I Had Known Before the Fire

Jun 17Joe Worth

Bruce Buschel owns a restaurant in the Hamptons that was recently devastated by a fire. He also blogs in the New York Times Small Business “You’re the Boss” section. When I read what he wrote (which every business owner should read!) about the lessons he learned from the fire, it occurred to me to ask: How was he able to evaluate the advice he was getting from his insurance agent or broker? How did he pick that agent or broker?

May 1Joe Worth

Survey Says Small-Business Lending Is Surging – so what?

May 1Joe Worth

Robb Mandelbaum blogged for the N.Y. Times that a recent survey by Greenwich Associates shows that lending by banks to small businesses is picking up. Read the blog here. (The N.Y. Times You’re the Boss blogs are my favorite!) While this is undoubtedly good news, so what? Does that mean that any business that applies for a loan has a better chance of getting approved? While this may be true, I think that any business’s chances of getting a loan

Apr 6Joe Worth

Do you need a forensic accountant?

Apr 6Joe Worth

Perhaps not! Jim Ethell, one of my B2B CFO Partners in California, recently wrote about forensic accounting being needed when accounting basics break down. (Read his article here.) Often, a “second set of eyes” on the company’s financial statements are enough to set off the alarm and look into problems before a very expensive forensic accounting project is needed. An outsourced, as-needed CFO can be your second set of eyes!

Mar 30Joe Worth

Business Interruption Insurance

Mar 30Joe Worth

My friend Gene Killian is an insurance litigation attorney with The Killian Firm, P.C. He recently wrote a very good article about business interruption insurance (BI). One of his points was, “‘Consistent and reliable’ documentation. If you want to win on a BI claim, that’s the key.” He was talking about the books and records of the company. How are yours?

Mar 27Joe Worth

"Not having a CFO almost cost me my company."

Mar 27Joe Worth

“Not having a CFO almost cost me my company.” This quote is from a blog on the Chief Executive Boards International website and it really hits home. The well-written article by Terry Weaver goes on the explain the significant value a full-time or part-time Chief Financial Officer can bring to a business over and above their cost. One reason is that “failure to fully understand the company’s financials is one of the top 3 causes of small business failure.” While

Mar 11Joe Worth

Why Checking References Isn’t a Waste of Time

Mar 11Joe Worth

Jay Goltz is a business owner who blogs for The New York Times Small Business. He wrote a great article recently with some practical tips on how to get more valuable reference checks. Read the article here. His basic point isn’t whether or not to check references – that’s a no-brainer! – but practical tips on what kinds of questions to ask and how to ask them.

Feb 21Joe Worth

Family Businesses Catch a Big Break

Feb 21Joe Worth

Market Watch recently carried a great article about the ability of business owners contemplating exit to take advantage of the recently enhanced gift tax exemption. As the law currently exists, there is a narrow two year window to utilize this opportunity. The opportunities that business owners may have to save millions of dollars in taxes may not be obvious to them or even to their well-meaning advisers who are not trained to take a holistic view of business exits. Read

Feb 16Joe Worth

WSJ: Cashing Out Start-Ups Gets More Complicated

Feb 16Joe Worth

While this Wall Street Journal article describes the increasing use of escrows and earnouts in the sale of high-tech start-ups, the same is true of the sale of non-venture-backed companies. The author states, “Overall, two thirds of private companies that are acquired now go through post-closing purchase price adjustments.”

Feb 14Joe Worth

How to hire a milkshake, and why you should!

Feb 14Joe Worth

Professor Clay Christensen is a Professor at Harvard Business School and a classmate of mine. You may know him from his famous work on disruptive innovation, starting with The Innovator’s Dilemma, his first book a decade ago here. He has now turned his formidable intellect and research skills to marketing. This article describes his new work on “jobs-to-be-done marketing”. It’s not only a new and valuable way to look at marketing, but highly entertaining as well. Read the article about