The Carmel, Indiana-based Richard Jacobs & Company has thrived like many other printing businesses—by keeping it in the family.
David Jacobs took over the business, which his father started more than 30 years ago, in the summer of 2006. He has been there to nurture it ever since.
Here, Jacobs, president, discusses what sets his company apart from the rest, his business style and what he anticipates in the coming years.
Print Professional (PP): Tell us about your background. Where did you grow up, what school did you attend, your degree?
David Jacobs (DJ): [I] grew up in Indianapolis. [I] went to the University of Pennsylvania [and graduated in 1990 with a] major in economics and a minor in computer science. [Graduated with an MBA] from New York University in 1996 [with a] concentration in finance.
PP: Describe your business style.
DJ: My decisions are based on analysis and I am numbers driven. I manage informally knowing that I have hired professionals and they are working for the benefit of the company and therefore, themselves. I work hard to align incentives with the best long-term interest of the company.
PP: What is the best business advice you ever received?
DJ: If you take care of your customers, your customers will take care of your business.
PP: What is your greatest business accomplishment and disappointment?
DJ: Greatest accomplishment was the successful deployment of our RFQ system, which allows us to reliably and consistently source printing from our network of vendors. [The] greatest disappointment has been the employee cuts of 2009 due to the recession. I worked hard to recruit experienced professionals to the team and it is always hard to layoff a competent employee that you respect.
PP: What is the secret to your success?
DJ: Quick to try new ideas, even quicker to stop doing things that don't produce results.
PP: What do you think is the most exciting, cutting-edge thing your company is doing right now? Why?
DJ: Our software to identify the right printer for a particular job. We've effectively recreated the knowledge of an experienced print buyer within our software and made that information available to the entire sales team. Our win rates in relationship to quotes is well over 50 percent due to our capabilities. It is very exciting to speak to a new account and know that if we quote the job, the chances of winning the work are very high.
PP: What do you think will be the printing industry's biggest challenge in the next few years?
DJ: Bringing capacity back into line with declining volumes.
PP: What would people be surprised to learn about you—hobbies, special interests, etc.?
DJ: I find the chaos of the printing industry to be a puzzle. When I'm not thinking about how to unravel the chaos, I can be found at the gym, walking the dog or playing around with my kids.
- People:
- Richard Jacobs
- Places:
- Carmel, Indiana
- Indianapolis