these virginia entrepreneurs earn five businesses including an architectural sal advantage company and a bird store. and a tulsa man owns and operates half a dozen restaurants. what they can teach you about running multiple businesses coming up next on a special edition of "your business." ♪ >> small businesses are revitalizing the economy and american express open is here to help. that's why we are proud to

present "your business" on msnbc. ♪ >> hi there everyone i'm j.j. ramburg and welcome to "your business" the show dedicated to helping your small business growth. many yeermz we interviewed a guy who ran a car wash and pharmacy. suns then we've come across so manienty entrepreneurs with exciting business. what does it mean to have your time split between different companies? we begin with the story of a couple who run not one, not two but five different businesses. everything ranging from a recycling company to a bird book store.

>> they all were created and developed because of each other. every business that we have here is reliant on other businesses. >> jeremy hale has been bitten by the entrepreneurial bug. his wife jamie couldn't agree more. >> he's always been an entrepreneur since childhood. he gets excited with every new business that it's going to be something first and foremost he'll enjoy doing. >> i think the space is huge and allows us to create more and more workable usable spaces. >> it's where the hale's five businesses are housed one one hand. >> the hail company incorporated, the old storage warehouse, architectural salvage business nelson llc and recycling and video books which

is a bird book store. >> the company is the largest of the five. >> we started storing automobiles and industrial stuff and then also all the arc peck tour stuff we were collecting. as that developed we had a by-product of recyclables. we started thinking about the book store which my father owned and why not move it into the warehouse, put all of our businesses in one location. after that they wanted go into renovating and restoring the materials that we've been collecting. >> to an outsider five companies in one place may seem like a lot but jeremy says the setup makes sense. >> they all work together and feed off each other. >> each business is able to give back and forth in ways that are beneficial to all the other bigss involved. >> here's just one example when

jeremy looks for the cards to make old coffee storage it becomes obvious lp. >> my construction business i'll take the trucks out from the construction business mch materials for the eeld cold storage warehouse, utilize and store the material and take the by-product into nelson recyclables. >> while one business can easy plimt another they also have to function independently. >> they work with and without each other equally. >> find theyson's storage containers on and off the property. recycling has lots of customers as well. when you include the book store into the mix jamie says it's impossible to treat all companies the same way. >> the book store is the odd business out. they're all so unique and separate that they all seem to me multiple attention.

>> which can quickly result in major headlights. dealing with major hurting is inevitable. >> i try to plan out a time where i have one task for one business, start to finish. once that is done then i can move on to the next. >> there's no set formula. there can't. >> the architecture sallage are brings that i advertise for and the book store are our retail operations. the website is the first place people find us. we rely a lot on word of mouth, people who have brought to us before, local architects and designers. nelson storage for example we have yellow pages. . >> the marketing plan helps the brands maintain separatitis. very few custers opinion.

>> there's no reason for them to know but they appreciate it. >> five times the bills and five pay rolls for the employees. >> the recycle someone can run the entire operation. the employee can do renovation and works with nelson storage, we're basically hair house management and jamie runs the book store and we have three-partners. >> some businesses are more profitable than ours. some might have to keep a close eye on the bank account. move it around to flow it to the next month. >> the challenges with running five misses aren't going to come easier. more businesses will soon be calling the warehouse home if he has anything to do with it. >> the wheels are already

turning and his desire to launch new cops is part of the plan. >> i would obtain the idea of getting mother building so i have more pace space to put things into. there's no lomt to the amount of businesses i put on in this blase. >> there are a lot of challenges as you grow and then you want to open multiple locations. jeannine sylvester opened one and saw the opportunity to expand. it's had a positive effect on buying power, brand recognition and retaining inging employees. >> having three locations has a lot of benefits. people feel more confident, comfortable knowing this is the same as in manchester, concord or portsmouth >> she never knew the impact runner's alley would be on her

and the community. this first time ebt premuir turned her passion for run into this portsmouth new hampshire for fitness. >> our tag line was new hampshire's only running only store so we felt if we don't do it and somebody else comes in we may be disappointed that we didn't take the lead. >> offer four years in business the expansion in manchester took jeannine some convincing. concord opened because of customer demand. >> we had customers ask for years when did you coming to conford? i said no this is it. >> people too get fit for sneakers, buy approval and work in organized groups. one of the most obvious benefits is buying power. >> we have a little bit more leverage to say this is when we want it and how we want it whereas one store you may not get the attention that you want.

>> portsmouth manager justin says inventory is regularly shifted to make sure customers get what they want without even store having to order too much. >> for example your fifrt shoeth that hits your foot perfectly with the other two locations to call the chances are better that we can have it quicker. >> all the managers speak with jeannine and the others regularly. >> constant contact via e-mail a chat system on our computer talking on the money. we have monthly sngment meetings. >> with a common point of sales system employees can work anywhere. having local elections helped with employee retention. >> it's hard to i go people a job that they consider a career job. we had to give them something to keep with the can be someone to hong on or racing them.

>> one wouldn't take any business away from the others. >> manchester and concord probably overlap the most within 20 25 minutes a lot of people in manchester work in concord and vice versa so we get customers come into both stores. >> she's focused on her stores grateful customers embraced her brand in multiple electionlocations. everyone knows sunner's early and i was like wow, ier in they had we'd grow into new hampshire's place to shop for running gear. it happened. people have supported us and it's fun. now that we've seen some examples of how some people have run multiple businesses simultaneously, let's dig in a little bit more to better understand what you need to consider if you're thinking about doing the same. serialent prenir eric is the funder of retrofitness, fierce

nutritionals and author of "just make money: the entrepreneur's handbook for fulfilling the life of your dreams." >> good to see you. >> you run three businesses somewhat related. >> plus i have realty holdings. >> you are really multiple businesses. from the perspective of someone thinking about doing it what questions do we need to answer for yourself. work life moun takes. >> i think if you don't work at it ahead of time you'll figure it out at some point. it's easier to do it prior to launching, multiple environments of business. you understand work/life balance and work balance. >> let's talk about getting resourceful. >> it's an entire chapter in my book about resourcefulness. if you're going to make it in the world of business, you need to be resourceful.

you need to understand how speed works in business how to take advantage of technology in your business how to leverage other people in business. it's reinsourceful. >> it gets back to time and efficiency. you have to figure out ways so business is not taking up all your time and you can start thinking about business b. >> an entrepreneur's most important quality is their time. time management rather. their most important commodity is time. it's not money, it's time. >> you talk about leveraging synergies. does your business have to does the product or the service have to work ogt or do you mean maybe the back end or -- >> when i talk about leveraging sib ergs it's really about systems. if you have a great payroll system in place that's easily duplicatable in other systems. adt or paychex or private participant, if you have a great

management system of how you hire train people sales, marketing, if you have systems that work it's similar to the franchise, almost plug and play and you have to make it specific for the second or third system you're in. it's best to try best practices on the new person soon. >> finally stay hungry. >> you to to stay hungry. the spirit and passion that drives you is the most important element that sustains you all the time. i talk about it with my franchisies, anyone starting a business, you need to be enthusiastic and to do that you have to cultivate yourself self-improvement. continue going to seminars. when you first get out you get successful and kind of lay back a little bit. that's where the sink hole happens. you have to go back -- i just signed up for another seminar in

florida in january with tony robbibz. i do this because i like to fuel myself with more ngs. you meet one or to. >> thank you for this advice and we'll bring you back for questions. >> awesome. still to come we'll answer your small business questions about expansion and growth including finding partners in locations you aren't familiar with. plus social media strategies for promoting multiple businesses. american express for travel and entertainment worldwide. just show them this - the american express card. don't leave home without it! and someday, i may even use it on the moon. it's a marvelous thing! oh! haha! so you can replace plane tickets, traveler's cheques, a lost card. really? that worked?

american express' timeless safety and security are now available on apple pay. the next evolution of membership is here. this week's your biz selfie comes from jean vassal of rockwell center, new york, has a cute business called pen pen pen pen sillies. send yours to #yourbizselfie. most entrepreneurs know what it's like to go up against the competition. what do you do when your own businesses are competing against each other. for a tulsa man who owns eight

different bars and restaurants it's a unique challenge as we found out a few years back he managed to work his way through potential pitfalls by learning how to strukike a balance. elliott nelson founder of the mcnelly's group is the biggest restaurant owner in downtown tulsa, oklahoma, since he opened his first establishment, mcknellie's in 2000 had, he's been on a role. >> okay when is something else going to happen and it wasn't happening very quick so we decided we'd do it our sez. >> reporter: that's why knellson made the decision tonls help revitalize downtown tulsa by expanding his offerings one at a time. >> we kept adding to it. >> the area historically wasn't much of a draw so some people had their doubts about nelson's

plans. >> it was something i believed in. i thought the goal still is making tulsa better one place at a time. >> and build a strong foundation is what he did. if you looked at a map you'd be hard pressed not to come across one of wilson's establishments. it's a short walk to the dilly deli and the dust bowl lounge and lanes. just about three blocks away is mcknelliecknellies, and around the block is yokozuna and about six blocks away with the brady tavern. having so many spots so close together is quite a balancing act, but knellson has managed to make it work. key part of the equation is making each spot unique. >> the menu is different, the atmosphere is different so that helps. lot of times people don't know

they're related because each has a different feel. >> customers find another difference, the prices. >> everything we do we try to price fairly. we had to price ourselves to a point where it was attractive people cross other restaurants to get down here. >> allowing each restaurant to have its own identity has xwichb way to a strategic marketing decision. >> we promote each other's places amongst all the group but i want each place to feel individual. i want it to feel like its own entity and have its own personality. >> one major advantage of the downtown tulsa layout is ability to share resources. if needed the company's approximately 400 employees can work almost anywhere. >> the restaurants function the same. we have the same point of sale system. any one of our managers can go from one restaurant to another. >> despite nelson's diversified

company he admits his business has had its own growing pains. >> we're on competition but flipside of that we're our own competition. >> reporter: while the success of the mcnellie's views have had positive effects they haven't been always positive. >> we drove a lot of rent rates up. >> that's not the only battle nelson and his staff are fighting. they are focusing on other areas which is how the bowling alley became a reality. >> people are requesting to experience downtown are here so i think at that point we begin to cannibalize ourselves. >> despite the concerns, nelson says he'll continue to build upon his already successful model. he's managed to balance the business so far and he believes he and his staff will be able to do it again.

it's time to answer some of your business questions, talking about rubbing mull it uple businesses today. let's get our board of directors in here to help us out. eric, and gene marks founder and president of the marks group and a columnist for "the washington post." thanks so much for being here, you guys. i'm so glad we're focusing on this today. i feel like so many people are doing more than one thing. i do you do you, do here we go. first question is an e-mail from marilyn in the restaurant business at the jersey shore. "my company's looking for expansion opportunities in staten island and south florida to wal our seasonality. how do i seek out a working partner with skin in the game and area i'm not familiar with. >> reach out to the contacts and people you know. when i think about looking into the different countries they want to work she may consider buying into another business or

partnering. bizbuysell.com there are a lot of sites that offer brokerage services. this is a place where you buy and sell businesses. when clients say i'm looking to expand, i don't know anybody there i point them to that site first. right there you'll see others in the industry looking for business and partnership ac50s this as well. get place to mach a dex. >> great idea and hard to partner with one to basically manage this for her in an entirely different place where you don't have great oversight. >> partners are for dancing. if you are looking for a magic partner it's a great idea but what i would say would be great talent is not made it's found. i'll have into the local restaurants and go down to south florida, scout out every one of the best placeser talks about, who has the high's tendance who

is in every review getting five stars and go and steal that person's manager, go and steal that person's chef. it's just business. we're not here to make friends. we're here to win. >> got it, okay good advice. we have a question from wellie about the right time to grow. when does it make sense to expand other cities. we're thinking of adding new locations in other countries. what milestones are critical to reach before that. we talk about how you find someone, how do you make that decision to go in the first place? >> growth an anomaly in business. i tell my franchise yees and i said start in your own backyard and develop your backyard bafr before you try to find someone else's backyard you have to own yours. if you look outside of new york and you look into florida you my

vr get about new york. you've got to cultivate what is is in your backyard first. if you completely fulfill the whole footprint of where you are today before you look at the next area of geographical expansion and you have to have a good plan no place. >> i love that advice. one of my favorite books is the emyth by michael gerber. it's an iconic cook. the whole point he says businesses should be able to run on their own, should be able to stay sustainable, have a process where you as the owner should be able to walk away from the business, they should be self-sustainable. is your business running be its own. are you in a situation, ask you gone to leave your business for a few months while you expand somewhere else. >> we did a story a few years back on a company that did a fun

place to drop your kids off and they were smart about it from the very beginning when they opened their star they codified everything. they had this big book here are all of our classes and how we do everything so when it came time to expand they could say here you go. >> that's the franchise model. >> that's what you teach them. if they lose people they be able to deal with procedures and training policy. >> let's move on to the next question from willene, "i have more than one business. would you suggest different facebook pages, separate sitters and disspecific linked-n accounts all under my name. >> i just wrote about this like in "for sbes" a couple of weeks

ago. this woman at 3m you can't get more boring. big company, thousands of employees, dozens of products. do you just have one, no. they have an an@3m twitter account and@. mracing. post-it notes. so what i learned from that if you're a business and have separate distinct brands with your business or multiple companies there's no rule to have one social media presence. you should divide it up so fans are getting the content they want to get at. >> it makes complete sense because you want to be specific as possible. that's the point of social media because you can get the niches. they're related not the same. >> they have their own again to

what jean said their own distinct environments in social media. we have the come nationality with fitness and utrigs products. ler' completely independent the jim member isn't the supplement. it's more time consuming but you need their own identities with their own brand awareness and talking to that specific customer. >> that's exactly right if you'll have separate social media accounts it's more overhead more time so you got to be prepared to do that. >> gene eric thank you to see you. >> great to see you as well. >> if any of you have a question for our experts we answer them every week here on the show. get some great advice. the address is openforum.//yourbusiness. send us on e-mail as well.

a personal touch goes a long way with your customer but it can be time consuming. if you'd like to make your clients feel special check out the website of the week. you can opt to have this company use your personal handwriting or pick from their 17 unique styles. hellobomb, the cites and writes out the correspondence for you. startings of ascending and established businesses here are five industries you should keep tabs on courtesy of smallbiztrends.com. health care. aging baby boomers mean we had to use of and the internet of

things. two, 3-d printing opens businesses up to the possibility of manufacturing just in time as it is ordered. three, retail. from digital storefronts to interactive fitting rooms, the way we buy products we love is transforming thanks to technology. every step of the shopping process is being made more efficient, phub and engaging. four education. students will be more likely to seek out services online that will help them get into college like tutors and admissions counselor counselors. five, batteries are something most people use on a daily basis, a technology ripe for innovation. to learn for about today's show find it on openforum.com openforum.com/yourbusiness. we have web exclusive content with more information to help your business grow. we're also on twit and facebook

and instagram as well. how a shocking letter from a rival beach resort left a skouz, california, businessman, what did he do wrong? >> i stepped in the federal court building to the 28th floor and i was up there with atf, u.s. marshals and the fbi. >> kind out what happens when a cease and desist letter from someone bigger and richer than you threatens your company. i'm j.j. ramberg, rehn we make your business our business. american express for travel and entertainment worldwide. just show them this - the american express card. don't leave home without it! and someday, i may even use it on the moon. it's a marvelous thing! oh! haha! so you can replace plane tickets, traveler's cheques, a lost card. really? that worked?

american express' timeless safety and security are now available on apple pay. the next evolution of membership is here. shall. the silent majority is back and we are going to take the country back and we are going to make america great again! >> all right, good morning, thanks for getting up with us this sunday morning. defiant donald trurp you just saw there draws huge crowds and some protests as he campaigns in arizona yesterday, more on what he had to say and he had a lot to say in just a