alt.Consulting helps businesses catch up to bigger
competitors
Running a public relations and marketing firm from her
home, Deidre Malone's startup was bursting with
potential.
But without a lot of business knowledge or the funds
to hire a private management consultant, taking it to
the next level was going to be tough.
Before going it alone, she learned about
alt.Consulting, a non-profit management consulting
firm for minority- and women-owned businesses that
offers affordable services.
"I said, 'Absolutely.' I didn't have an accounting
background," said Deidre.
Coming to her office, alt.Consulting trained her and
her business manager, from organizing financial
records to how much to charge clients.
"When you start out, you feel like you need to have
low rates," said Deidre, who was keeping her fee
down. However, the management firm told her there
was no need to low-ball.
"They really opened my eyes that I had to start
asking my clients for what I was potentially worth.
The next client had no problem paying it," she said.
After seeing the financial side of her business running
more smoothly, Deidre is still using the nonprofit's
assistance to better organize her firm. They're
helping her construct a strategic business plan that
will lay out the next five years. But she sees using
their services well after that.
"Their advice is invaluable," Deidre said.
With about seven employees, alt.Consulting helps
approximately 100 businesses in Memphis each year.
Their goal is to spawn profitable business and jobs in
typically disadvantaged communities.
Located Downtown in the Emerge Memphis building,
which also aids minority-owned business by providing
office space, alt.Consulting pays its rent by offering
its expertise at partnership rates to the other 20
companies under the same roof.
