MLT Rising Leader Spotlight: Pablo Fuentes – An Entrepreneur On His Own Path
By: MLT
Pablo Fuentes, a 2008 MBA Prep alum and Stanford MBA (2010) is the Founder & CEO of Proven, a mobile hiring tool for the restaurant and hotel industry. We sat down with him to discuss his recent 40 Under 40: Top Diverse Talent in Silicon Valley award and his journey from MLT to Proven.
Tell us a bit about your career path before you founded Proven?
I graduated from UCLA with a Political Science degree. I climbed my way up in finance. I taught myself finance at night as I studied for the CFA test. I did marketing, then moved to equity research and then buy side equity research. I got to the point where I was working for a hedge fund. That’s when I discovered MLT.
What motivated you to start your own company? Why the hotel and restaurant industries?
I realized at Stanford that I didn’t want to be the richest person in the cemetery. I actually wanted to create something. It took me about a year to figure out what I wanted to do, and that ended up being what today is Proven. It has evolved from the original idea of helping workers outside of Home Depot get jobs with text messaging. I’ve always wanted to help people who never had products built for them get jobs. The service industry has a lot of turnover and uses mobile a lot, so that’s been successful.
What did you learn from MLT and your business school experience that helped you achieve your success?
MLT gives people access to networks that many people like me have had little exposure to. People say there’s fair access to education, but the reality is that there are entire systems and relationships that are not super obvious. MLT had a tremendous role in helping me uncover those systems. In business school I realized that you have no limits. You may think the only way to succeed is to follow the rails of something that already exists. For example, you go to law school and become a lawyer. You then go to a law firm and work really hard and become partner. I came to the realization that every “rail” was built by someone before me, and that I could choose to do that, or I could expand my horizons. Not everyone needs to become an entrepreneur. It’s brutally difficult compared to traditional careers in many ways. But for people who have the inclination and are a bit off the beaten path, like myself, it’s a tremendous realization that there are no limits and you can create what you want, and that’s amazing!
Anything you wish you had done differently?
I started on the entrepreneurial path at 29. Looking back, I probably would’ve benefited more from doing something that wasn’t finance but more related to creating. I practice jiu-jitsu, do film photography, play blues guitar, and build guitars out of cigar boxes. I’ve realized that creating has always been my motivation. I worked many hours in finance, but I wasn’t creating. Being able to realize earlier that it is ok to create and fail would’ve been powerful. But I never had anyone who showed me what was possible. So, today one of the biggest things I try to do is inspire people to believe that it is possible. I spoke at the White House on mentoring minorities to start companies and I mentor for Code 2040.
What have you learned while in Silicon Valley?
All the hype is true and all the hype is B.S. You can come here and do something incredible, you can fail and it doesn’t damn you for life. The hype is also not true because it’s not just a matter of showing up and meeting up with people sketching ideas and then you have an IPO. People perceive it as a magical land of opportunity. It’s not always that easy.
How do you feel about winning this award?
It’s a great recognition. It means even more because I was nominated by someone I mentored in Code 2040. The recognition reminds me of the sign we have at Proven that says “Always great work, never great job”. A “great job” has finality to it. “Great work” means you have to keep at it. I aim for great work.
What advice would you give someone interested in going into the tech field or starting their own business?
If you go into tech, do it because you are genuinely interested, not because you think it’s the “hot thing”. In the not so distant future it may not be “hot” anymore, then what do you do? If you think of yourself as a “weird kid,” like I did, find a place where being a weird kid is OK, or carve your own path, like owning your own business. When starting your business, the hard work or the thinking are not the hard parts – it’s not giving up. You may get punched down nine times, but what matters is getting back up for the tenth. We had to evolve our business model nine times in six years before getting to the point where we are making an impact and a profit. Talk to as many people as possible and find mentors. I also offer advice in a post on pando.com called “Seven Dirty Gritty Secrets That Cost me $2 million.”
What’s next for you?
I want to continue to grow this company. Ultimately, I want to inspire people to create and show them what is possible. Entrepreneurship is brutal and not made for everyone. But there are people like me that could end up in jobs where they are miserable and just don’t see themselves in these shoes yet. By sharing my story I want to show them what is out there.