ever wanted to sell your used clothes or furniture but gave up because the process was too difficult? we meet a group of second hand companies tackling these obstacles so you can buy or sell stuff in just a couple of clicks. and meet the man behind the dollar shave club who disrupted the shaving industry through the use of viral videos. we cut through the noise to get you the advice you need to run your small businesses. all that coming up next on "your business."

♪ hi, everyone. i'm jj ramberg and welcome to "your business." the show dedicated to helping your small business grow. when seasons change, people tend to clean up, declutter, and purge things they no longer need. if you could be rewarded for your efforts and actually make a bit of money on your unwanted things? a bunch of second hand companies have popped up to help you effortlessly sell your clothes, furniture, and cars. we went to san francisco to find out how they did it.

♪ >> i live on the third floor. it's all stairs. and i don't want to have to ask a bunch of friends to move up furniture for me. >> libby murphy wanted to refresh her apartment with new furniture. with just a few minutes of searching and couple of clims, this arrived the next day. >> i bought this chair. i bought a bureau. and i bought a red trunk. and they all look better than i thought they were going to, actually. so i'm happy. >> this is a second hand transaction. smooth, effortless, easy. >> yea. looks good. >> capitalizing on a need in an industry that hadn't seen significant innovation since the instruction of ebay, move loot is part of a new wave of frictionless second hand companies are are dramatically

changing the used goods market. >> you are transform your space without needing to lift a finger. we do all the work. that kind of ease of dealing with these bulky, not easy thing is pretty spectacular for people and something nobody's done before. >> it wasn't always this easy. until this point, craigslist was libby's go-to place. >> you have to respond to people and set up a time. some people aren't willing to pay what you've offered. >> so she did research and found move loot. >> it looked clean and things were were the right place. >> for $635 she got all of this plus free delivery. move loot also saw some value in her old couch. so they removed it and she'll get a portion of the profit if it sells. >> have a good one.

>> it's not just furniture. used clothing is being transformed too. and in the process what's old is new again. >> to build a great brand, there needs to be a magic for the customer. i think the box and tag makes an experience feel like new. >> this enormous warehouse is where james vinehart make the magic happen. they're doing for clothes what it's doing for -- >> we help consumers conveniently sell the clothes they're no longer wearing and we allow you to buy like-new clothing online like you were shopping at any other retailer. >> send you a bag with prepaid label on it. it's reinventing the thift store experience. >> to make a list, have

identified the points. like taking great photos, writing listings and pricing. thread o rks p has gotten this down to a science. >> so the real innovation for us is if we aggregated the supply, in aggregate we could create a new market and create value. i think as great as ebay has been in the category, there's still a lot of friction in the buying/selling experience for all segments of goods. thread up is taking the opportunity in apparel and re-examining how consumers would do it in 2015. >> you'd be mistaken if thread up is just a clothing company. >> it's a technology company. we put 12,000 items online every day. a lot of what we built in the back end are systems and infrastructure. >> al those these complex systems ultimately cost more for the user, most get a payoff.

even though it might not be as much as the local consignment shop would offer, it's worth it. >> what customers want to know is their things are being reused. if we can help keep stuff moving, that's going to be valuable. >> another second hand company called shift is upping the ante and pushing the frictionless model in another direction on a higher ticket item. used cars. this isn't the usual used car experience. there are no salespeople. instead they employ car enthusiasts with door-to-door service. >> you have a used car you want to sell, shift provides you with a concierge group to do it. they'll price your car and if you like the price our group tells you, we take the car away and you never see it again.

other side we have the buyer. we deliver the car to a buyer for a test drive. it sort of makes it much simple ler. >> in fact, mark spent the last couple of days going through the process. and today he gets the keys to his new used car. a 2014 jeep delivered right to his doorstep by his car enthusiast jordan. >> they were extremely helpful. low-pressure environment. when we test drove, i got a list of different things they checked. they were vrp transparent with anything that happened to be an issue. i got the car facts right there. no price haggle which was nice. >> and george has a vision for the next step in his fast-moving car business. offer customers the ultimate frictionless experience by take over the tasks related to owning the vehicle. >> every six months tough go change the oil. every year you have to change your brakes.

every couple years you have to change your tires. that's a lot of work for people. and we think that all should be done on your behalf. michael dubin introduced dollar shave club to the world in a viral video. razors starting at $1 a month to members now has 2.1 million subscribers and it's still growing. we sat down with michael at dollar shave's headquarters in california to talk about how it disrupted the industry and how to apply his ideas to selling men's grooming products. >> disrupting an industry to me means bringing a different approach to an area or to that industry that is perhaps as unproven and then having that

approach become validated by the consumer and gain incredible traction and ultimately change the way the industry does business. the consumer today wants to feel more emotional connection to the brand that he or she supports. humor is a really great way to evoke a visceral response from somebody if you want them to remember you. >> are the blades any good? no. our blades are [ bleep ] great. >> when we launched our original video in 2012, it was humorous and it told a really resonant story about a topic that guys discuss frequently. which is how expensive razors are. so we made a funny video about it. they forwarded it to their friends. subscription businesses that are successful are ones where the nature of the subscription is valuable. getting your package each month, nothing fun comes in the mail anymore. dollar shave club it's not only

the ray source but the bathroom minutes which makes your experience good. that's why they stick with us for so long. having this direct relationship with the customer is one of our great advantages. we can ask a customer what he wants and then develop that product and launch it for him, you know, 8 to 12 months later. american men especially have evolved. we're much more comfortable talking about what we put on your face or in our hair, what we wash ourselves with. the attitudes in the market has changed. dollar shave club is not only riding that wave, but we also feel we're contributing to the size of the wave because of the way we talk to our members. which is in this very relatable voice like your friend who says, hey, man, you should try a butt wipe. >> you want talk about number two? great. let's talk about number two. >> it's really awesome and it's going to change the way you do that part of your thing. competition helps you think more

critically about your business and how to differentiate and how to increase the value ta you're driving. we're not the first company to sell razors on the internet. we're not going to be the last. ultimately what dollar shave club is providing is a mixture of price, convenience, and experience. and a lot of fun. in order to set your strategy, you really need to understand your financials. and that seems obvious, but if you feel like you don't have a good handle on your numbers, let me promise you you are not alone. which is why we invited chris meyers today. he's the ceo of bodytree.com. good to see you. >> good to see you. >> i think people sometimes are afraid to admit it, how little they understand their numbers. right? because they want the outside world to feel like they understand them. the first the i think to say is don't be embarrassed. just fix it. >> exactly.

we work with hundreds of thousands of businesses across the country. 90% do not have organized, timely, and accurate finances. they just don't. it's a terrifying statistic. >> right. we've done some makeovers before where we walked into businesses and asked them what's your revenue and profits and you get blak stars. >> exactly. >> let's dive into the first one. you're a technology company, it's obvious you say take advantage of technology. >> yeah. well, you know, historically there's been two paths for businesses. right? the first is hire an accountant. hire a bookkeeper. get a traditional platform. and get something that you don't understand. right? or the second path which the vast majority chooses is do nothing. just ignore it. it doesn't matter today, ignore it until there's a problem. and the nice thing -- there is a third path for small businesses now. and that third path is getting

the benefit, the education, the insight into that, into your business, without any of that addition gnat pain or investment that is -- that goes along with the traditional route of hiring an accountant or a bookkeeper. using traditional accounting systems. >> i think what people need to take from this is there is stuff out there to help you. do some research, right? zblit depends on what your needs are. if you need something with a bit more of a human touch, there's companies like bench that they can do that. if you need something more scaleable, we do that on the other side. there are so many options out there. >> let's move to the next one. review your numbers weekly. really pick out which numbers are most important for you to know for your company. >> light. and i think the most important thing in that whole process is really to make sure that you're making this repeatable behavior. become something that you just

do in your business. >> right. once a week, once a month, whatever it is, you've set time aside. >> exactly. even if it doesn't change a ton from week to week, you need to make that part of your behavior. and if you do that, then you'll find that when problems do rise, you'll spot them early. >> and now here goes to your next point which is set and monitor your goals. that's to the point of reviewing it weekly or monthly, whenever you do. because i have a goal revenue of this or profit of this or something. you'll see where the trend is going. >> yeah. you need to know where you want to go. you can't -- everyone says i want to be successful, i want to make money, i want to grow. that's great. so do all of us. but you actually have to know specifically what you're shooting for in order to see if you're on track or not. setting and monitoring those goals not only gives you a direct financial benefit, but it also actually puts it as part of the process of your business. >> and it gives you a way to look at the numbers. it gives you a way to organize them. and finally use the frogs

framework. >> we need a better acronym. it stands for finance, operations, goals, strategy. so what it is is it's a way to think through tackling in your business. do i want to expand, hire a new employee? you think of the financial impact, the operational impact. you think about the goals. does that further the goals i've already set? and then finally strategy. does that fit into the overall strategy that i have for this business that i'm running? >> yeah, and focusing on the finances because this is what we're talking about here is you may want to take a big risk, right? with whatever issue you're tackling right there. all right, chris. so great to see you. you help us out with a lot of makeovers. nice to have you on set. >> great to be here.

we often lament that there are only 24 hours in a day which just doesn't feel like enough time to get everything done. so here are five ways technology can help us be more efficient. courtesy of entrepreneur.com. one, curate your to do list. break up big projects into smaller easy to tackle parts. two, read faster. you can use sites like eyeercize to go through articles that don't require word to word scrutiny. three, invest in e-mail tools. e-mail marketing services can help you stay on top of mass e-mails and long prospective client lists. four, put your social media on a schedule. you can use apps like tail wind and foster which let you schedule social posts days or weeks in advance so you can consistently be providing content even when you're away. and five, track your time. being self-aware about your are

consumer usage habits is the first step to gaining control of your schedule. you can use tools like rescue time to see just how much time you spend scrolling through facebook instead of making important sales calls. when we come back, we'll have more ways to help your small business grow. we have some advice about starting a business at an older age, and how investors can impact your company. and we'll see what the panel thinks about a new line of arm and leg warmers. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed.

our amex helped us fill the orders. just like that. another step on the journey. will you be ready when growth presents itself? realize your buying power at open.com this week's your biz selfie comes from sara and robby of chicago. they own the healthy snack food company i heart keenwah which i have tried and it's good. if you'd like to show us your selfie, take one and send it to us or tweet it and don't forget to use the #your biz selfie. today's elevator pitch was a yoga instructor who was tired of being cold in her studio. so she came up with a line of leg warmers and turned that idea into a company. brian cone is the chairman of

new york angels. erica nicole is the founder and ceo of yfs magazine. >> hey. ki see you're checking out our pipes. our nice pipes. they're leg and arm warmers made from the same amazing fabric. i'm lisa bindro. i was inspired to create the first pair walking to the studio one morning. i was really cold in cropped pants so i designed performance fabric leg warmers that extend the length and seasonal life of all your favorite workout pants. when i wore them, everyone wanted a pair. so i started a business. our pipes add style, color, and functionality affordably to every workout wardrobe. very unique. no one is making them. soft to the touch, stretch for personalize fit. when i wore them to the studio everyone wanted a pair and asked where to buy them. >> how much money are you

looking for? >> we're looking for $500,000 and we would invest in marketing, distribution, and building our team. >> all right. great. i'm going to give you guys these. >> thank you. >> i want two numbers. the first number one through ten on what you think of the product. and the second one of what you think of the pitch. you know, i run way more than i do yoga and this seemed brilliant. >> for sure. marathon runners, triathletes, tough mudders. they love it. >> i think that's good. but that is what i think. let's start with you, brian. >> i love them as an accessory. i love the fact it matches and i think it should be part of the yoga outfit. you really founded a concept that compliments the look of what you want to be when you walk into the yoga studio. on a functional standpoint, you're right. everyone worries about their arms being scratched or maybe

there is a bit of cold rooms around they need to feel more warm in. >> what's your number on the product? >> an eight. you connected. and now you're trying to see if it's going to work, well, the vision that you've got is something that i think is a good opportunity for people to invest in. >> the number? >> an eight as well. >> what do you think? >> you did a great job. i'll give you a nine on the frod. wh product. i love it reaches multiple target audiences. you have a good opportunity to dial deep and reach various people that exercise within the community, various situations. that's -- >> reveal the number. >> and i give you a nine on the product, on the pitch i really would like to see it from an investment standpoint more where that figure comes from in terms of valuation and equity stake, just a little bit more background in the metrics. >> all right, well great. thank you, guys for looking at

this and giving them your advice and thank you for coming on. you have one new customer because i'll buy the arm ones. thanks for modeling for us. appreciate it and good luck with your company. >> thank you. >> if if i of you have a product or a service and you want feedback on your chances of getting interested investors, send us an e-mail, yourbusiness@msnbc.com is the address. include a short summary of what your company does, how much money you're trying to raise and what you're going to do with that money. you never know, somebody out there watching might be interested in helping you. time to answer some of your business questions. brian and erica are here to help us out. the first one is about the role investors might play in your small business. >> i would love to know how investors can impact a small business both good and bad, and how it generally works. i don't have enough bdi i understanding how an investor can impact a small business. >> brian, number one, they can

bring you money so let's put that aside. >> smart money, yes. >> that's what you're looking for is smart money. >> i call it investor raising. it starts with the entrepreneur finding the right investor and once you've developed the relationship with the righter have, they shouldn't be annoying. they should be part of the constabt evolution of your business, otherwise any advice they give is momentary s.w.a.t. team like. the nature of what i've learned regarding the biggest value is opening doors for you. if they've got history of entrepreneurship they can look at your numbers and help with some of the number analyses and so on but in the end it's contacts and relationships that's critical. >> what questions should you ask someone who is interested -- >> if you need money and feel like i'll take any that comes my way because i'm desperate what questions should you ask someone to make sure you're getting smart money? >> it's a great point. when you look for smart money you need to ask an investor what are your values, what are your interests and methods? how do they align? a lot of times what you find

entrepreneurs get an investor and it's a bad fit. it might not be smart money like brian said so it's important to understand exactly, make sure the investor understands your industry and your company, understands your vision and able to align on the three key factors. >> it's also important theent prene ebt prenuur has a responsibility to communicate. you're not getting the investor to give you the best of what they can give you unless they give them some context for how they could be a part of the conversation. >> exactly. that's great. >> one company all their investors i have seen recently a monthly e-mail, an update the good, the bad, the ugly and at the end here is what i need, very specific. somebody know this is person, does somebody know this? it's perfect. right, because i as an investor might not know what you need if you ask me something specific i can say yes or no and it's my money, i'm interested in helping you if i can. let's move on to the next question from nicole. we've had negotiations to

acquire a business we really like for over a year. we're trying to speed the process along. at what point should we say we can't work with you anymore and pull the plug. is there aa point? >> i want to know is there an agreement established from the get-go in go back to the agreement, where have you been so you can know where you're going and most importantly a miscommunication issue. lot of times you find they're not communicating appropriately. you need to find common ground and set deadlines and time lines. at the end of the day you want to make sure that you can get to that finalized answer and move forward in your business. stalled negotiation is not good business at all. >> most of the time it stalls because people don't know who is going to be in charge. it's a big ego thing and if they don't start from the beginning with some clear i'm going to be doing this, i'm going to be to doing this, who is going to make the final decisions, i don't care what the pieces are in the negotiation, it doesn't matter because it's personal. you're selling your business, you want to know where do you fit in it. am i still important. >> right, does that company

really want to be bought. maybe it's stalled because they're not interested. >> exactly. >> you need to have an honest conversation about that. okay, finally we have this question about older entrepreneurs. >> i decided to start the business when i was 50 years old, and a lot of my friends are looking toward retirement, and i'm looking toward business growth so i'd love to know any ideas or helpful hints from your panel for somebody who is starting their business a little bit older. >> well my mother, i will tell this story, started her company in her late 40s, never having worked before, for pay. she worked plenty. started it in her mid-40s and 13 years later sold her company, it is never too late, if you have the passion and the interest and willing to put in the time. that's my advice for robin. what about you? >> i live, eat and breathe in new york city young startup community. the energy i get at my age thinking about opportunities is derived from that and the reality is you can't start a business without some technical

ackcumen that lives, eats and breathes in the startup communities. an older statesman attend the younger meetups where they can learn a lot and gain a lot of the energy and see the world in a different perspective that they need to know frankly they don't always share. >> i think that's a great point and to that, making sure you're with like-minded peers, meet-ups and incubators or accelerator in your area. they have the resources and tools to fill in the skills gap in terms of technology and advancements, things like that, they may not be as familiar with as a millenial or gen xer. >> if you look at the statistics of successful companies it is not the 21-year-old in the hoodie. there are plenty of those. it's not necessarily the

50-year-old starting a company either but there is something to be said for experience and a lot of the successful companies are started by older people. >> they are. >> somewhere in between those two. >> i love in this scalable young tech world, that's where my focus is, where my investment thesis lives. >> it is never too late, if you have the interest, a passion, the ambition, the desire to work hard, because it is not easy. great, thank you both so much for stopping by. really appreciate it. and if any of you out there have a question for our experts, please send it in, because we want to answer it here on the show. just send us an e-mail, address is yourbusiness@msnbc.com. thanks so much for joining us today. if you want to learn more about the show, go other to our website, it's openforum.com/yourbusiness. you'll find all of the segments on the show today and a lot more information to help your business grow. you can also follow us on twitter, it's @msnbcyourbiz and

facebook and instagram as well. >> coming up next week a maryland business owner thought he had a handle on his company but then his customers started paying him to do something different. >> when you got customers calling every day, it's hard to turn them away, you know? nice people, they want to give you money. i think it's a good thick. >> we'll tell you how customer demand got this entrepreneur to embrace making beer tap handles which have since become his best seller. until then, i'm j.j. ramberg and remember we make your business our business. we thought we'd be ready. but demand for our cocktail bitters was huge. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding. fast.

our amex helped us fill the orders. just like that. you can't predict it, but you can be ready. another step on the journey. will you be ready when growth presents itself. realize your buying power at open.com. is the united states ready to hear the pope's political message? good morning, thanks for getting up with us this sunday morning. i'm richard wolf sitting in for steve kornacki. pope francis gets ready to bring his message of change to the you state, including to a joint session of congress. but will his audience on capitol hill be ready to hear what he has to say about things like climate change and income equality? so this actually