From broke to $3.4 billion: CEO who risked it all shares the mindset that built his fortune

Hindustan Times

3 days ago

Back in 2007, Brian Murphy made a life-altering decision. He quit his comfortable job in corporate accounting to start his own IT firm, ReliaQuest. But just weeks after taking the leap, the global financial crisis struck. In a span of 40 days, nearly every deal he had lined up disappeared. Murphy and his team of eight were left with a single government sub-subcontract focused on cybersecurity for overseas satellite terminals—and a steep uphill battle to keep the business alive.
For the next nine years, the company faced constant turmoil. But instead of giving up, Murphy doubled down on his belief that the rise of the digital era would lead to a surge in demand for cybersecurity services.
'At some point, you're far enough away from shore. You've already burned the lifeboats that you know swimming back isn't really possible, so let's just keep moving forward,' Murphy told Fortune.
To keep things afloat, Murphy took extreme personal risks—he took out a second mortgage, maxed out his credit cards, and stopped paying himself a salary. It was a make-or-break gamble.
Fast forward to today, ReliaQuest has grown into a global force in the cybersecurity industry. Its flagship platform, GreyMatter, is used by major clients including Southwest Airlines, Circle K, and Tractor Supply Co. With a team of over 1,200 employees across three continents, the company was valued earlier this year at $3.4 billion (approx. ₹28,300 crore).
'It just shows you, sometimes luck is undefeated,' Murphy said.
While Murphy modestly credits luck, those around him point to his tenacity, vision, and no-nonsense leadership style. The company is now preparing for an initial public offering, another major milestone in its journey.
Murphy's work ethic was shaped early. As a teenager in Florida, he bagged groceries and pushed carts at his local Publix Supermarket—an experience that left a lasting impression.
'It taught me the customer,' he said. 'And that idea that you don't point the customer to the ketchup aisle, you walk them over there, and you show them the five or six different kinds.'
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Though he originally studied accounting and finance at Florida State University and began his career as an auditor, it wasn't until Murphy got into tech consulting and learnt programming that he saw the scale of opportunity in technology.
Now, as the CEO of a fast-growing tech firm, Murphy says accepting failure and understanding that you can't please everyone are essential parts of the job.
'It's the most out-of-balance journey—ever,' he said.
For young entrepreneurs—especially Gen Z—Murphy shares two pieces of advice: be willing to put in the work, and don't hold back your thoughts.
'You're not always going to be right, but if you say nothing, you're always going to be wrong,' he said. 'As you get older, you learn that sometimes the best thing to do is shut up, but when you're young, you want to stand up and talk as much as you can to get that experience.'
One defining aspect of ReliaQuest's identity is its decision to stay rooted in Tampa, Florida, far from the conventional tech hubs like Silicon Valley. According to Paul Shoukry, CEO of Raymond James Financial and a ReliaQuest board member, this connection to community has played a key role in the company's culture and success.
'He's got a drive that is very hard to match in terms of his dedication to the business and to his people, and the intensity around which he built the business,' Shoukry said.
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'He's just very real, and tells you like it is,' he added. 'Whenever you ask him a question, he's never going to beat it around the bush. He's never going to give you a polished answer. For better, for worse, he's just a really authentic person.'