What started as a one-woman business has quickly turned into one of the fastest growing companies in the US. Nina Vaca, founder of Pinnacle Group, has definitely left her mark in the business industry. The company that she started with only 300$ is now making close to $1 billion in revenue. To say she made it big is an understatement. Who would have ever thought that a hugely successful company that’s been voted the fastest growing company in the US on more than one occasion was led by a woman? Had this been 20 or even 10 years ago, it wouldn’t even be a possibility. Today however, it’s not just a possibility, it’s a reality.
So, how did it all began? What strategies were used that contributed to the success of the company? After A LOT of research, we finally have the 4-1-1 on how Pinnacle Group went from 0 to 100.
Entrepreneur by Birth
When Nina Vaca founded Pinnacle Group in 1996 with only 300$, she never dreamed that it would go on to become one of the fastest growing companies in the US. This Latina who was born and raised in Ecuador always had the spirit of entrepreneurship within her. After her father’s death, she took over the family business with her sister up until it was sold. Being no stranger to entrepreneurship, Nina grew up seeing her family own and manage several businesses.
“Think Big. Dream Big. Do Big.“
When you grow up hearing this, it comes to no surprise that it quickly becomes the mantra you live by. She grew up surrounded by entrepreneurs. So it came as a no brainer when it came time to draw her career path.
“One thing I knew in my heart was that I was going to be an entrepreneur and do it for myself. I learned through the silent example of my parents that, in this country, you can.”
A Latina, an Idea & 300$
Seeing how technology can significantly contribute to the success of any business, Nina knew that whatever business she was going to start, it was going to involve IT. So, in her one-bedroom apartment with 300$ in her pocket, she started Pinnacle Group, an IT staffing agency. She quickly convinced her sister, brother and her husband to join forces and grow the company. Six months in, Pinnacle Technical Resources went from a single-computer-and-phone operation in Nina’s apartment to a high-end office located in downtown Dallas. To say the company was on the path to success is an understatement.
Bumps in the Road
Unfortunately, Pinnacle Group wasn’t always on the path to success. Like many other companies, in 2001 when the market collapsed, Pinnacle also suffered. The company was no longer on the road to success since it launched in 1996. Layoffs had to be made, payrolls were missed and the future of the business was uncertain. However, Nina didn’t let that stop her.
“I learned very quickly as a child about the persistence and the tenacity and the failure-is-not-an-option attitude you need to run a business.”
Failure was not an option as far as Nina was concerned.
After the Rain, There’s the Sun
With a positive attitude and hard work, Pinnacle Group was back and stronger than ever. In 2002, the company doubled in profits and tripling in 2003. Hard times were behind and it looked like nothing but clear skies for the future. Today, the Pinnacle Group is the fifth-fastest-growing firm in the $20 billion dollars IT consulting industry and has earned a spot on Staffing Industry Analysts’ fastest-growing companies list for seven years in a row. Something that is unmatched by anyone else in the tech industry.
How did she do it? It’s all about having the right people in your company and having a strong growth strategy.
“Today, my most important priorities are employing the right people and having the right strategy in place to provide growth, stability, and, ultimately, determine the future of our industry.”
Recognized as The Fastest Growing Company
With annual profits of close to $1 billion and strategic acquisitions that have contributed to the growth and success of the company, Pinnacle Group is recognized by several as the fastest growing company:
- The Women Presidents Organization (WPO), 2018
- Deloitte 2018 Technology Fast 500 Award, 2018
- Inc. 5000 List of Fastest-Growing Private Companies, 2005 – 2018