Pinnacle’s Nina Vaca on People, Passion and Perseverance

“Whatever your strengths, leverage them to the fullest toward reaching your goal.  Hire everything else, and never be afraid to fail.”—Nina Vaca, Founder, Chairman and CEO, Pinnacle Technical Resources

Reading Nina Vaca’s bio is like reading a roll call of industry awards, among them U.S. Hispanic Chamber of Commerce’s Business Woman of the Year and Ernst & Young Entrepreneur of the Year for Technology and Communications. And no wonder: At age 10, Nina was already working in their family business. And at 17, when an unfortunate tragedy took their father’s life, she and older sister Jessica assumed control of his travel agencies, prepping them for sale the following year. “That experience shaped me in so many ways,” says the third-generation entrepreneur, who was two when her family moved to the U.S. from Ecuador. “I learned a lot about people during that time, as well as the reality of meeting payroll and the various decisions and sacrifices that go into running a business.”

After earning a Speech Communications and Business Administration degree from Texas State University, Nina worked for a technology firm. But the passion to own her own company is so strong that in 1996, at the age of 25, she and a partner started Pinnacle Technical Resources. The 2001 dot-com bust hit them hard, but not one to give up, Nina borrowed money wherever she can to buy out her partner’s share. She changed Pinnacle’s focus, and started charging a fixed price per project rather than an hourly fee. The strategy worked: Pinnacle grew over a hundred times in six years, and now boasts $200 million in revenue, more than 2,200 employees nationwide and a client base made up of Fortune 500 firms like AT&T, BMW, EDS North America, Citigroup and Verizon. Moreover, Nina is able to continue her father’s dream of creating a family legacy—Nina’s husband, two brothers and sister are all key contributors to the Pinnacle team. Here, in her own words, Nina shares with NAWBO some insights that led to her impressive success:

Differentiate Your Services
You have to know what your customers need, get it to them on time and at the best price. Pinnacle has a full suite of services across many skill categories and delivery models. We provide IT and related admin/office personnel, as well as project-based consulting via our third-party providers. What makes us different is that we have a supplier network of over 1,500 firms nationwide, all of whom are linked to Pinnacle and our clients via a proprietary, web-based, staffing, payrolling and vendor management solution called “Progata.” When delivered as a complete solution, customers can achieve significant savings while ensuring the very best skills and contractual terms in the marketplace. And because our technology is proprietary, there are no third-party fees or contracts of any kind. Very few consulting, staffing or outsourcing firms can make that claim and support it with a track record similar to ours.

Hire the Right People
As a service organization, we are only as good as our people. If you don’t have the right people at the helm, you’re headed for trouble. Most experts will tell you that a person’s “resume skills” represent less than 25 percent of what will make them truly successful, long-term hires. For me, the remaining 75 percent has a lot to do with personal integrity and entrepreneurship, so I spend most of my interview time trying to evaluate those characteristics. It’s very difficult to do, and I can’t claim to have cracked the code, but it’s something we focus on very seriously.
 
Get Involved
Most of Pinnacle’s longest-standing clients are the ones we initially met through business associations. Networking is like anything else in life—when you focus on it, you get results. For woman entrepreneurs, organizations like NAWBO, their local women’s business councils and other women-oriented groups are focused on helping them succeed, in large measure by introducing them to the appropriate business contacts. However, instead of just joining and attending events, I strongly suggest getting involved. By doing so, you will end up serving on committees with potential clients and business partners, and this is where the true networking happens. You will also develop the leadership and communication skills that will be critical to helping your business grow beyond the $1-2 million level.

Invest in Technology
Pinnacle’s technology strategy is the critical component to our growth, and without it, I’m not even sure we would still be in business. Faced with increasingly savvy competition, technology is crucial for a business to scale, remain cost-competitive and continue to satisfy customers. The biggest fallacy about implementing a technology strategy is that you have to be an expert yourself. However, business people, and not pure IT people, are the ones best suited to determine what types of technology their businesses need to be competitive. The answer is dependent on what a firm is trying to achieve, the nature of technology usage within its industry, budgetary constraints, etc.

Give Back to the Community
Pinnacle is involved in a variety of non-profits, including United Way, Alley’s House and Susan G. Komen for the Cure. Participation is always voluntary for our employees, and it has been an excellent way to build morale and firm culture while giving back to the community. I would encourage every firm to have a plan with regard to community involvement. You truly get back much more than you give.

Never Give Up
Pinnacle’s goal is to reach $1 billion in revenue. I don’t know when we’ll get there, but we’ll get there. I believe that whatever your strengths, you have to leverage them to the fullest toward reaching your goal. Hire everything else, and never be afraid to fail. Most successful people have failed multiple times, and so has Pinnacle. The key is to cut your losses early, extend your gains and never look back.