News from alt.Consulting
alt.Journal )
Second Quarter 2005
Read about
  • alt. to Present at National Conference
  • Graduation Scheduled for Memphis FastTrac
  • Catering to Your Business
  • MMEAN: Starting Businesses from Scratch
  • A Community Approach: Shelby Women United
  • Announcements
  • Greetings!

    Thank you for taking time to read the alt.Journal.

    alt.Consulting's staff makes a difference in low wealth communities one business, one job, one person, one step at a time by providing customized managerial assistance to entrepreneurial ventures in the Mid-South.

    We appreciate your interest, your support and your feedback.


    Ines Polonius, Executive Director

    alt. to Present at National Conference
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    "Striking the Right Notes on Entrepreneurship" is a national conference coming to Memphis on April 18 - 20, 2005 at the Memphis Marriott Downtown.

    The Federal Reserve Banks of St. Louis and Kansas City, the American Bankers Association, the Kauffman Foundation and Corporation for Enterprise Development (CFED) are jointly sponsoring the conference, which will focus on the role of entrepreneurship in the economy and our communities.

    The conference will look at best practices and the elements needed to create the right foundation for enterprise in communities, regions and states. It is organized into three tracks:

    1. Policy & strategic networks
    2. Finance
    3. Services

    Ines Polonius, Executive Director, will be presenting alt.Consulting's model for providing customized, managerial assistance to small businesses at the conference on April 19th.

    If your are interested in more information or would like to attend the conference, click the link below.

    Graduation Scheduled for Memphis FastTrac
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    FastTrac in Memphis is really on the 'fast track'. The new session began on February 3, 2005 with 13 entrepreneurs who participated in an intensive 11 week course designed to help develop business management skills that can be used for years to come.

    Below are a few quotes from current participants.

    "My experiences exceeded my expectations."

    "I came to class with an open mind in need of all and any buisness knowledge. This experience has been above and beyond what I expected."

    "I have gained a wonderful sense of reassurance that I can do this - manage my business for greater profitability."

    The Center City Commission (CCC) of Memphis sponsored five downtown businesses in FastTrac. As a part of the sponsorship each graduate will receive 20 hours of follow-up, one-on-one managerial assistance.

    You are invited to the FastTrac graduation, which will be held on April 18, 2005, 7 p.m. at Gestures, 525 S. Main Street in Memphis. If you are interested in attending, please RSVP to Christina Watkins, 901- 312-9796.

    The fall class will begin August 25, 2005. If you are interested in attending or learning more about that class, you can contact us or use the link below to view class information and registration.

    Catering to Your Business
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    Paulette Sanford started April House Premier Catering Company in Memphis eight years ago. Her business got a rather unusual start and as a result has developed into much more than a catering business.

    For twelve years, Ms. Sanford operated a small printing business. It was located in an office with other small businesses and she began bringing food for special occasions. With improved technology leading to less demand for her printing services, Ms. Sanford saw an opportunity to move her business in a new direction.

    She started April House Premier Catering Company as a full service catering and events management business. She has grown it into a business that includes:

    • On-site and off-site catering services,
    • Banquet facilities for 300,
    • Meeting facilities with 4 meeting rooms in addition to the banquet facilities, and
    • Business support services that include printing, copying, binding, and technology services.

    April House Premier Catering Company has been profitable each year but has faced some of the same challenges many small businesses face. As Ms. Sanford said, "There are a lot of small businesses that just need a little push in the right direction."

    A flyer about the alt.Consulting FastTrac program in Memphis almost made it to the trashcan before Ms. Sanford reconsidered and called about the class. She had attended several training programs looking for help and had worked with other consultants. She said, "This is the best program set up to assist small businesses that I have come across."

    Not only did Ms. Sanford attend the 11 week FastTrac training, (see previous article for more information on FastTrac), she also asked for additional assistance. Using proprietary tools developed by alt.Consulting, Ms. Sanford saw an immediate improvement in her cashflow.

    If you live or work in Memphis, please support our client. You can find Ms. Sanford at 2222 Lloyd St.in Memphis or you can contact her at 901-946-1668.

    MMEAN: Starting Businesses from Scratch

    alt.Consulting is partnering with Mississippi MicroEnterprise Association (MMEAN) and the Mississippi Development Authority to generate entrepreneurial enthusiasm in the three rural, Delta towns of Friars Point, Shelby, and Tunica, Mississippi

    alt.Consulting taught a seminar called "How to Start a Business in Mississippi" to meet the potential entrepreneurs in each of these towns. Participants, ready to launch their ventures immediately, are receiving one-on-one assistance to determine if their concept is feasible and to develop marketing plans.

    Since October 2004, in these three rural communities,

    • 25 minority entrepreneurs attended the seminars
    • 9 entrepreneurs demonstrated feasibility of their plans and are working toward starting their businesses
    • 2 loans have been approved and closed through the SBA Community Express Program for $5,000 each and two applications are pending.
    • alt.Consulting thanks MMEAN and its supporters at the Mississippi Development Authority for its financial support in creating new businesses and jobs in these Mississippi communities.

    A Community Approach: Shelby Women United
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    alt.Consulting, working with Southern Financial Partners, has expanded services to include customized managerial assistance to small Delta municipalities and communities.

    News of the work in a couple of small towns spread to a group of women in Shelby, MS. This group, Shelby Women United, had gotten together about a year earlier to clean up the town. They asked Southern Financial Partners, if alt.Consulting could work in their town next. alt.Consulting worked with Shelby Women United and a diverse group of citizens to develop a strategic plan for the community.

    Since completing their strategic plan in November 2004, they have:

    • Set up the Shelby Development Council as a separate non-profit organization
    • Sponsored a seminar called 'How to Start a Business in Mississippi'.
    • Raised $5,000 needed to match a grant of $20,000 to restore the public library, which is located in the old train depot and is a Mississippi Landmark. Without the match, the grant would have been lost at the end of 2005.

    Announcements

    alt.Consulting is excited to announce:

    • The 2004 Annual Report has been published. Please click the link below to download a copy.
    • The 2004 impact study demonstrated that 36% of alt.Consulting's clients grew by an average of 20% after working with alt.Consulting.
    • The study further shows that alt.Consulting's work helped to create 84 new jobs in low-wealth communities.
    • As an update to last quarter's newsletter, alt.Consulting has closed 20 SBA Community Express loans, leveraging $150,000 in loan support for business that could not obtain financing anywhere else.