Tuesday, August 12, 2014

Business Tip for the month of August - From Anita T. Conner & Associates, P.C.

Do a business valuation when you're ready to sell your company

Well before you're ready to sell your company, you'll want to determine its fair market value as a starting point for negotiations. Of course, obtaining a reasonably precise value for your business is often a complicated and time-consuming task. Accurate appraisals must weigh a variety of factors and incorporate numerous assumptions. The more precise the underlying numbers and suppositions, the more likely the appraiser's determination of fair market value will reflect what a willing buyer would actually pay. Following are two questions an appraisal should address.
  • How does your business compare? If you're operating a service business, your valuation will differ — often substantially — from a company involved in light manufacturing or retail. Buyers will expect a reasonable return on their investment, a return that is often represented as some form of earnings multiplier. For example, your business may be valued at three times projected earnings. Once determined, that number can be compared to businesses of similar size in your market. Of course, accurate valuations must compare apples with apples. "Earnings" must be defined. Should "earnings" include or exclude the owner's pay, interest expense, depreciation, or taxes? A careful appraisal will also scrutinize the balance sheet. The basis for valuing tangible and intangible assets (including non-compete agreements) and liabilities (such as mortgages, installment loans, and accounts payable) should be clearly laid out — before the business is put on the block.
  • Will present trends continue? The future is always murky, but a careful analysis will be based on conservative projections, assumptions, and common sense. If, for example, the business is expected to retain skilled management and employees, buyers may be willing to pay a premium. If, on the other hand, the company is overly dependent on a few products or customers, potential buyers may be scared off. Or they may require concessions to mitigate perceived risk. Again, a careful appraisal will consider many such factors and value the business accordingly.
Remember: an appraisal is merely a starting point for negotiations. The more accurate the appraisal, the more likely the business will be priced correctly and potential buyers will be attracted. Unfortunately, determining the fair market value of a business may be fraught with missteps and faulty assumptions. For that reason, hiring a trained and objective professional is often a worthwhile investment.

Tuesday, August 5, 2014


Contact:  Dayna Cherry

Local Author/Entrepreneur Hosts Inaugural
Author’s Book Signing and Networking Event
For Authors who are seeking community and National recognition

Philadelphia, PA – August, 2014 -  When Dan Ramsey became incarcerated, he took it as an opportunity to reflect on his fast and furious lifestyle of gangs, drugs, pain and power.  He used reading as an outlet and a tool to help him grow internally – studying the Bible, the Koran and a variety of other books.    Danny believes that God spared his life to enlighten and empower him to bring many books to fruition – book s that will aid others in their search for inner meaning.   Inspired by his daughter, he wrote and illustrated 9 children’s books.  He is also the author of “For Men Only… Having A Loving Relationship With God And Your Woman” a book that was written exclusively for men to help them see that the role of a woman in their lives is an essential element of their spiritual health and a significant contributor to their own self-actualization.

“I started writing For Men Only…Having A Loving Relationship With God And Your Woman while I was incarcerated.  I became a lecturing in prison and upon my return to society began teaching various men’s groups about the importance of keeping God in the relationship with their women.  I brought so much information to the forefront that the participants couldn’t retain it all in one session and I was asked to write it down.  So, I self-published this book that I had written while incarcerated.”

Daniel emphasizes that the book is not just For Men Only.  “Lots of women have read it as well.  It was written for men because men are supposed to be the head of the household and they need to be straight in order for the household to be in order.    Woman who read this book are getting a different perspective on the male experience.  It helps women raise their standards in what they expect in a relationship.”

“Ever since I published this book, I’ve meant several fellow authors who've shared their stories about the journey of writing a book.  Many have become discouraged, lacking support and information about writing and publishing books.  I decided to host a forum to bring authors together, giving them an opportunity to promote and sell their books, to network and to learn more about writing and publishing.  “I wanted to offer a forum where Authors could come together and encourage one another.  We need to surround ourselves with like-minded people and build up one another’s confidence.   I also wanted to have a place and time dedicated to encouraging people to read; children and adults.”

Treasure’s Banquet Hall will host its Inaugural Author’s Book Signing and Networking Event Authors of all genres are invited to participate in this great opportunity to share published and upcoming work.    There are currently 10 authors who have signed up to participate. 
There will also be representatives there from the Philadelphia Chapter of The National Writers Union UAW Local 1981 -  the only labor union that represents freelance writers.

Now, more than ever, with the consolidation of power into the hands of ever-larger corporate entities and with the advent of technologies that facilitate the exploitation of a writer’s work, writers need an organization with the clout and know-how to protect our interests. One that will forge new rules for a new era.

Combining the strength of more than 1,200 members in our 13 chapters with the support of the United Automobile Workers, the NWU works to advance the economic and working conditions of all writers

This event takes place Friday August 22, 2014, 2pm – 8pm at Treasure’s Banquet Hall 5549 Germantown Avenue Philadelphia, PA 19144.  This event is free to the public.  Author’s fee is $15 for table. 
For information, contact Dayna Cherry 267-601-6094 or Daniel Ramsey at 267-241-5695.


Monday, July 28, 2014

Author’s Book Signing and Networking Event

Treasure’s Banquet Hall is inviting Authors of all genres to participate in this great opportunity to share published and upcoming work.

The event takes place Friday August 22, 2014,
 2pm – 8pm
At Treasure’s Banquet Hall
5549 Germantown Avenue
Philadelphia, PA 19144

This event is free to the public. 
Author’s fee is $15 for table. 

For information, contact:
Dayna Cherry
Daniel Ramsey

Tuesday, July 8, 2014

Oh Woman! How Great Is Thy Faith! Let it Be as Thou Willl!!!

This Post is Inspired by The Canaanite Woman in Mathew 15:

This scripture was never one of my favorites.  I would get defensive about
 it because Jesus called the woman a dog; unfit for even crumbs from the
Master's table.  But this past weekend I attended a Camp Meeting service
 a the SDA Allegheny East Conference in Pine Forge, PA.  The guest
speaker was Admiral Barry Black.  Now, I had not been to camp meeting
 there in about 6 years, but when I heard that Barry Black was speaking,
 I put on my hat and went to hear him speak.  I was not disappointed.


Monday, May 26, 2014

Outlet Malls: Do they give you a good deal?

A few years back, outlet malls had an almost seedy reputation. They tended to be located far from upscale neighborhoods and generally offered defective or second-rate goods. Nowadays, outlet stores look a lot more like their full retail counterparts. Though outlets may not feature showpiece displays or offer wide selection, they're popular for one main reason: perceived savings. Nevertheless, shoppers need to know the tricks of the trade.
  • Quality may differ. Several studies have shown that over 80% of the products sold at factory outlets were manufactured specifically for those stores. So the blouse that's on the rack at the outlet store may not be identical to a similar item displayed at the store's retail establishment or on their website. At the outlet mall, leather in a purse may have been replaced with plastic; sweaters may be shorter and have fewer buttons; T-shirts may be constructed with fewer stitches and lighter fabric. Although these differences in quality may not be a deal breaker for you, it's always prudent to know what you're buying.
  • How much is that discount, really? Using a marketing technique known as "reference pricing," bold price tags at the outlet store may advertise a huge discount from an item's "retail price." Unfortunately, that "retail price" may have been concocted at the store's recent management meeting. There's no guarantee that merchandise at the outlet store was ever listed for that price at a retail establishment.
  • Shop sales and promotions. Outlet malls have sales, too, and it makes sense to shop when items are truly discounted. Sign up for an outlet store's mailing list to be notified about upcoming promotions. And before you buy, make sure the retail store isn't offering an even bigger discount for your favorite item.
  • Shop the off-season. Look for bargains when stores are trying to move their end-of-season inventory. Buy beach apparel in the fall, winter coats in the spring.
  • Don't be afraid to leave empty-handed. Driving a long distance to an outlet mall doesn't necessarily justify a shopping spree. If it makes sense to buy an item, buy it. If not, wait to shop another day.
  • Know the store's return policy. Retail establishments may not take returns from outlets. Others may require price tags and receipts before accepting returns.
As always, follow the wise consumer's tried-and-true maxim: buyer beware.
© MC 2014

How to ruin your credit score

Warren Buffet once said, "It takes 20 years to build a reputation and five minutes to ruin it." The same could be said of good credit. It isn't built overnight or by accident. Most Americans with stellar credit scores have exercised financial discipline for years. That's why lenders are willing to offer them mortgages and car loans at favorable interest rates.
And like a good reputation, a strong credit score can be easily ruined. Here's how to devastate your credit score in four simple steps.
  • Max out your credit cards and don't make required payments. About 35% of your FICO score — the number between 300 and 850 (worst to best) that most lenders use when deciding whether to extend credit — comes from your payment history. Paying late or paying less than required minimums can wreak havoc on your FICO score and may signal to lenders that you're overextended.
  • Co-sign on an irresponsible friend's loan. There's a reason why your pal needs a co-signer — he or she is perceived as a high credit risk. If your friend defaults on the loan, you're responsible for the unpaid balance. As Shakespeare said, "Loan oft loses both itself and friend." And remember this: if you co-sign for a loan, the status of the loan will appear on your credit report.
  • Close credit card accounts in quick succession. Shutting down a credit card or line of credit account may adversely affect your debt-to-utilization ratio (how much you owe in relation to your credit limits). As this ratio climbs, your credit score will tend to sink. Say, for example, you have three credit cards and each has a $1,000 limit. You carry a balance of $500 on one of those accounts. That's a debt ratio of $500 to $3,000 or about 17%. If you close one of the accounts, the ratio will jump to 25% ($500/$2,000). Though you haven't accumulated more debt, your credit score may be hurt.
  • Default on your installment loan or home mortgage. This is another sure-fire way to trash your credit score. A home foreclosure, for example, may cause your FICO score to plunge by 200 points or more. And because most negative information stays on your credit report for seven years (ten years for a bankruptcy), lenders may be reluctant to offer you money for a very long time.