For Montgomerys, entrepreneurship is a family tradition

by Kris Ann Hegle

SBJ Contributing Writer

One area family has more than an entrepreneurial spirit. It's got an entrepreneurial bloodline.

Four generations of the Montgomery family have founded and run small businesses located throughout the Ozarks. In the 1940s, family patriarch Hershal Montgomery founded a car dealership in Lebanon. Hershal's formula for success was simple: "Don't trade for anything you have to paint or feed."

Hershal's son Norris heeded his father's advice and followed in his footsteps. In 1951, he bought Springfield's GMC truck dealership and in 1955 the Buick dealership, which he ran until he retired and sold the business in 1964.

Norris' son, Jim Montgomery Sr., worked in the car business for a time, but spent the next 25 years as a banker in southwest Missouri. In 1997, he was bitten by the entrepreneurial bug, and he opened Springfield's Wood You Furniture, a Florida-based retail franchise that sells unfinished wood furniture and do-it-yourself finishing supplies.

Jim Montgomery Jr. represents the fourth generation of entrepreneurs. Like his great-grandfather, grandfather and father, Jim Jr. is a small-business owner. He co-owns Ozark York Heating & Air Conditioning Inc. with Dennis Marbut, and co-owns MR Motors, a Springfield used-car dealership, with John Roper and Grant Marsh. In addition, Jim Jr. and business partner Lairy Gritz co-own Ozark Air Conditioning, Heating & Appliances in Shell Knob.

Through the generations family members have learned and passed along some strict rules for doing business, such as keep your overhead low, don't think you have to be an expert at everything, and when your CPA tells you you're making a bad decision, believe him.

"I think the most important thing I've learned is you don't have to be an expert at everything to be successful in business," Jim Jr. said. "My business partners tend to handle the more technical aspects because that's what they're good at. I handle the management end of things because that's what I'm good at."

Like his son, Jim Sr. also gets help on technical issues. As a franchise owner, he follows the instructions and guidelines already established by the retail chain.

While the Montgomerys seem to share a talent for business, the two said their personalities differ. Jim Sr. is quiet, methodical and analytical, while Jim Jr. is outgoing and aggressive, as they described themselves.

The businesses owned by the two differ as well. Wood You, owned by Jim Sr., is a retail store. Ozark York, MR Motors and Ozark Air Conditioning, Heating & Appliances, owned by Jim Jr., are sales-and service-oriented.

The two do share some common values, however. Both said having faith in God has made their success possible. In addition, both father and son said they value individuality and independence, yet each relies on his spouse to help balance out their weaknesses in business.

Jim Jr. was 26 when he and his wife, Melissa Montgomery, bought Ozark York, which has 35 employees. The business, which was founded in 1952, has many competitors, and Jim Jr. and his partner must react to change quickly, he said.

Since buying the business in 1994, Jim Jr. said his wife has helped him numerous times by curbing his tendency to make snap decisions before completely examining a situation.

Jim Sr. credits his wife Becky Montgomery for helping him expand Wood You's customer base, as well as grow as a businessperson. Not only does Becky set up many of the store's merchandising displays, she played an instrumental role in helping Jim Sr. make the adjustment from banking to retail.

"When you're in retail, it's all about people," Jim Sr. said. "Having a background in banking, I guess I'm more comfortable dealing with paperwork than I am with people, but my wife has helped me turn that around."

Both of the Montgomerys have college degrees in business or management, and they haven't forgotten the importance of getting an objective opinion from time to time. The two get business and financial advice from the same CPA, have accounts at the same bank and use the same insurance agent. As a result, the two have more bargaining power together than they would separately, according to Jim Jr.

In the future, Jim Sr. plans to expand the square footage of the Wood You Furniture store, which currently has five employees. Meanwhile, Jim Jr. said he doesn't plan on acquiring any more new businesses to run. Instead, he plans to focus on bulding his existing businesses to their greatest potential.