Connect with us

Success Advice

5 Hidden Rewards of Running a Successful Business

Published

on

Image Credit: Unsplash

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.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Explode Your Social Media

Want More Views? Master These 6 YouTube Growth Tactics

Getting a strong start or feeling stagnant are two completely different problems, but they both need momentum, viewer engagement, and growth to fix them.

Published

on

YouTube growth strategies
Image Credit: Midjourney

Strategic planning combined with unwavering dedication allows you to rise above the chaos of YouTube—luck won’t get you anywhere.  (more…)

Continue Reading

Change Your Mindset

The Leadership Skill Nobody Talks About (But Changes Everything)

Curiosity often takes a back seat to certainty and gets labeled as a soft skill, which makes it sound obvious and easy

Published

on

leadership through curiosity
Image Credit: Midjourney

Most of us, when faced with challenges, instinctively seek certainty and answers. In turn, our ego steps in and prompts us to defend our views, double down, or perhaps disengage.  (more…)

Continue Reading

Success Advice

Breaking the Bias: How Females Can Thrive In The Workplace in 2025

The good news is that some steps can also be taken by female business leaders who are looking to voice and fight these issues, take charge of their careers, and grow their business or influence in the industry.

Published

on

Overcoming gender bias in the workplace
Image Credit: Midjourney

Over the past 100-odd years, women have played a critical role in the ever-changing labor force.  (more…)

Continue Reading

Success Advice

Success Isn’t Sexy: 5 Daily Habits That Actually Work

You’ll need to master the unsexy routines that build momentum in the background

Published

on

unsexy habits that lead to success
Image Credit: Midjourney

There’s a gritty, unfiltered side of success that rarely makes it to our timelines or TED Talks. It’s not drenched in neon lights, wrapped in viral quotes, or toasted with champagne selfies. It’s quiet. It’s routine. And honestly? It’s often boring. (more…)

Continue Reading

Trending