Pura Vida Bracelets is a company that sells hand-crafted bracelets made in Costa Rica and was founded by Paul Goodman and Griffin Thall in 2010. They have since created over 100 jobs for the craftsmen in Costa Rica and have sold over 2,000,000 bracelets around the world. Many of the bracelets have percentages of their profits donated to more that 190 NGOs, and they have donated more than $1,00,000 to date. In 2015 the company had generated $12 million in revenue which earned Griffin Thall and Paul Goodman spots on the 2015 Forbes 30 Under 30 list.
Pura Vida is an example of a good product, with an great story and even better purpose. Today we have 5 minutes with Paul Goodman!
Tell us a little bit about Pura Vida, how did it all start and how long you have been doing it?
Pura Vida started in 2010 after a college graduation trip to Costa Rica. We met 2 artisans who were homeless at the time and selling bracelets to tourists to make money. We decided we wanted to help them so we brought 400 bracelets back to the U.S. and started selling them to our friends and family
If you could narrow down the list of reasons of why Pura Vida has become such a success, what do you think the top 3 reasons would be?
1. Our Story
3. Giving Back
Who are some of the people that you admire and follow?
What are some of the Top Tools that you use for your business?
Do you have any books and websites that you recommend?
1. Ego is the Enemy - Ryan Holliday
2. The Tipping Point - Malcom Gladwell
3. Outliers - Malcom Gladwell
4. Tools of Titans - Tim Ferris
What are your sales channels?
What are some of the most important things to do when working with growing E-commerce sales?
Always be testing every single channel to ensure that you are operating at the optimal level of efficiency
How have you managed scaling the business and taking it from 1k,10k, 100k, to over 1 Million monthly? What are the changes that you have seen?
You always need to be upgrading your systems and your staff. Make sure your team knows where you are trying to go and what it is going to take in order to get there. Everyone should have a clear vision of the companies short term and long term goals.
What are some current obstacles that you are currently facing with Pura Vida?
Ensuring we have enough artisans in Costa Rica to maintain production
What are some of your goals this year?
If you could learn anything what would you would you like to learn the most?
I just enjoy learning new things about our business and business in general every day. Whether is is new programs to use, different sales tactics, or how to better manage employees
What is one piece of advice you would like to share with other entrepreneurs out there?
There is always someone working harder and smarter than you - figure out who that is and recruit them to your team
What's your current song of the moment?
Wanna Know - Dave (Feat. Drake)