1500 Customers and Profitable, $5.5M Raised with Pablo Fuentes of Proven.com

pablo-fuentes

In Episode #426, Nathan is joined by Pablo Fuentes, founder and CEO of Proven—a company that specializes in small business HR solutions. In addition to his passion for helping both minorities and women start businesses, Pablo also owns a BA from UCLA and an MBA from Stanford.

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Famous Five:

  • Favorite Book? – The Art of Learning
  • What CEO do you follow? – Richard Branson
  • Favorite online tool? — LinkedIn
  • Do you get 8 hours of sleep?— Absolutely
  • If you could let your 20 year old self know one thing, what would it be? – “Start Jiu-jitsu earlier”

Time Stamped Show Notes:

  • 01:35 – Nathan introduces Pablo to the show
  • 02:04 – How Pablo’s business generates sales and collaborates with talent managers
    • 03:21 – First year revenue in 2009 versus revenue in 2015
  • 03:45 – How do you make money?
    • 03:55 – When small businesses post a job
    • 04:30 – Average pay per company location
    • 04:51 – Average revenue per user
    • 05:00 – Lifetime value
  • 06:10 – Average churn = of 2 years
  • 07:10 – August Revenue
  • 08:10 – Subscription vs. pay as you go pricing
    • 09:40 – 50% gross margins
  • 10:15 – The biggest lever to increase profitability
    • 11:55 – Company is fully remote
  • 13:55 – Revenue goal for 2016
  • 16:56 – @provenpablo
  • 19:44 – What were you trying to raise before you stoped last year?
  • 22:10 – The Famous Five

3 Key Points:

  1. Don’t give up just yet – give your company a time to grow.
  2. Balance is everything.
  3. Have a goal and focus on pursuing it.

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • @provenpablo – Pablo’s Twitter handle.
  • Show Notes provided by Mallard Creatives