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5 Hidden Rewards of Running a Successful Business

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Ten years after I started my company Intrinium, the business was generating a consistent profit. I was able to pay off debts and was living comfortably. With a good amount of discretionary income, I couldn’t help but think, “What should I do with my money?”

When I started Intrinium and thought about what success would look like, all I could picture were material things: a million dollars in the bank, a big house on a hill, and a four-car garage filled with Ferraris. 

As I became able to afford some expensive things, I came to the realization that owning things doesn’t always make you happy, and owning too many things can make you very unhappy. The stuff you buy owns you, not the other way around. That’s not where your potential for real joy lies.

It’s hard to start and run a business. At times, you feel like yelling, “Why am I even bothering?!” For a long time, I didn’t know the answer to that question, but I finally figured it out. Success has huge rewards beyond the obvious ones and far beyond what you can imagine. 

#1: Set Your Own Schedule

One thing that success brought me is a lifestyle that lets me set my own schedule. How many hours I work is separate from how much revenue the business earns. 

Because my company is stable and has great leadership from my executive and management teams, I can say, “I’m going to spend next week in the mountains doing whatever the heck I want to do. Outside of driving into town to make a few calls, I’m not going to work.” I’m confident that when I come back to the office, I won’t be walking into chaos. 

Taking the time to enjoy the fruits of your labor, instead of constantly laboring in your business, frees your mind to discover what else success can do. It allows you to improve your quality of life in many ways, but only if you take the initiative to do so.

#2: Meet People Who Interest You

Being a successful business owner gives you access to people you would never have met in any other position. I can pick up the phone and call the mayor or the CEO of one of the biggest consulting firms in town and they take my call. I can ask them to lunch and they accept. 

When you run a company, people notice. They see you differently. Sometimes they see you for the first time. These connections can present other opportunities, such as investing in other businesses and participating in charity events. 

You start to see yourself differently, too. That, in turn, empowers you to do more in the world than you ever could as an employee.

“Don’t worry about being successful but work toward being significant and the success will naturally follow.” – Oprah

#3: Help Your Community, Your Industry, the World

The credibility you enjoy as a successful business owner empowers you to affect positive change. You can leverage your success for the good of yourself, your family, your colleagues and employees, your customers, your vendors, your community, and the world.

People who become successful have an obligation to show gratitude to the community and use their money for good. That includes helping out your family and friends in need, lifting up struggling businesses, donating to social or political causes, and giving your staff fair market wages and high-quality benefits.

Beyond mentoring, I don’t do a lot of hands-on charitable work at this point. Someday I’ll find the right cause to dedicate some time to, but for now, I’m happy to write checks for those causes I want to support.

Once you and I make the commitment to do more, and you’ve freed up the time, there are plenty of volunteer opportunities. Do whatever moves you the most. That’s one of the benefits of being a business owner.

#4: Lift Up Other Start-Ups

At a certain point in your career, you’ve gained skills and valuable experience that you can pass on to others just starting the journey. The credibility that came along with your success means they’ll listen to you. 

I consider it my responsibility to help out with business incubators and people who are working on their own start-ups. Because I’m earning enough in my business, I can afford to give this help on a pro-bono basis. 

In mastermind groups, I like to identify the members who are at the early stages of their business. Maybe they have ten people and a million dollars in revenue, but the revenue isn’t consistent, and they aren’t scaling. 

I ask these young business leaders about their mission, vision, and values. I also work with them on their long-term growth plan, always asking “What do you want to get out of this business?” To coach and support them, I give them my cell phone number and invite them to contact me with questions or to just bounce an idea off me.

#5: Support Your Staff

You can use your experience and power to help your employees realize their goals. A lot of employers have the idea that their staff members should work for them forever, and they take it personally when people move on. I don’t see things that way at all. When people leave your business and go on to do amazing things, that further defines your own success.

A few years after I started Intrinium, I hired a guy who went from being a part-time computer programmer to becoming the chief security officer for one of the best-ranked healthcare systems in the nation. That evolution came about because in the eight years he worked with us, we taught him everything we knew about security, risk management, and leadership.

A few years back, I received a $12.5-million offer for Intrinium. I turned it down because I was certain the would-be buyer planned to move the contracts to another firm and lay off my staff. That’s not what success looks like to me. It’s not a way to screw the very people who worked so hard to get the business to this point.

When you’ve achieved a consistent level of success, you’ll be faced with these kinds of ethical choices. When the time comes, what are you going to do? Are you going to take care of the people who took care of you? Or are you just going to cut and run? Something to think about.

Look for Ways to Give Back

If you’ve decided to start and grow your business, you’ve set out on a worthwhile journey. Remember, though, once you reach your definition of success, you didn’t get there by yourself. 

Your staff, your customers, your family, and your community contributed to where you are today. I hope you’ll consider it your moral responsibility to look for opportunities to show your gratitude. 

I’m not saying you have to give away all your wealth. But take really good care of the people in your life and your community. It’s the right thing to do. 

When I started my business in 2007, I never realized that someday I would have the money and the power to do what I can now do. You’ll never get as much joy out of counting the zeros on your bank statement as you will from helping people. It’s a terrific feeling—and truly one of the biggest rewards of running a successful business.

Nolan Garrett is the Founder and CEO of Intrinium, a firm dedicated to providing clients with comprehensive consulting and managed services in security solutions and information technology. Voted Best Place to Work Inland Northwest for three consecutive years, Intrinium has distinguished itself as a leader in IT solutions and workplace culture. Nolan is a member of the Forbes Technology Council and the Information Systems Security Association, among other organizations. With CIO and CISO experience and a background that includes multimillion-dollar cybersecurity transformations, Nolan provides specialized insight for businesses large and small in a variety of industries.

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20 Ways You Can Become a Powerful Communicator

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Emile Steenveld Speaker and Coach

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.
 

1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
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