Life Is Good – Brainchild of Bert and John Jacobs
Life is good ® is the brainchild of Bert and John Jacobs, university graduates who chose the road less travelled. From humble beginnings of selling t-shirts at the streets of Boston and travelling the East Coast with limited budget, their business ultimately found light in the form of Jake and his trusty pal, Rocket in the year 1994. Together with the slogan “Life is good”, Jake and Rocket embodied optimism, especially amidst lifes challenges. After a couple of years, their business grew from the standard relaxed fit t-shirts to a wide array of items. Their sales method also grew from door-to-door selling to Genuine Neighborhood Shoppes (GNS), independent retailers who sell the companys products in the USA, and in other countries.
The brothers are a true embodiment of what they sell. Their main drive is to get their message across, rather than to gain profit in monetary terms. They are employing minimum advertising (and are donating the money alloted for this area on charitable festivals for children causes) and are reported to have refused offers of selling the business or going public. Company growth was not a problem though, for they continued to reach a growth rate of 30 percent and a $100 million in sales year after year. For them, being loaded with money was never the point; but the inner command to spread their message and remind the people that life is still good even amidst adversity, thats what really matters.
Problem Formulation
How can the ‘Life is Good company improve on their present organizational structure and the management practices of its co-founders to enhance sustainability in the long run?
SWOT Analysis
STRENGTHS
-Organizational culture (positive work environment)
-Optimism as the product (timeless)
-Wide market (variety of merchandise and product lines)
-Charitable festivals and fundraising events (in line with optimism)
-Bert and John Jacobs as a source of inspiration to their team (life story and philosophy)
WEAKNESSES
-Relatively expensive products (shirts cost about $26-36)
-Managements dependence on founders
-Easily copied phrases on optimism
OPPORTUNITIES
-Life is good Kids Foundation (stakeholder relationships and public relations)
-Unsolicited brand exposure by influential costumers
-Genuine Neighborhood Shoppes (GNS) (specialized