Starting your business is not a piece of cake. There are tons of things you need to take into account if you want your startup to succeed. And while most smaller companies focus mostly on their image, strategy, and marketing, there’s one other crucial aspect you need to consider – your online security.
Unfortunately, many businesses tend to underestimate it, believing that they’re not valuable enough for hackers, whereas the reality is entirely different. Small and medium companies account for 58 % of cybercrime victims, meaning that they’re the cybercriminals’ most favorite target.
That’s why if you’re a small business owner, you need to do everything you can to make your online security bulletproof. And how can you achieve that? Well, avoiding these common mistakes is a good start.
Not Updating the Software
If you want your business to be safe, you need to ensure you’re using the best and newest cybersecurity solutions. The only problem is that the world of technology is constantly evolving.
That means you need to update your oFnline defense tools regularly, and that can be expensive.
If your security software is outdated, hackers are more likely to breach it and steal your valuable data. In short, you should spend no expense on your cybersecurity.
Using Weak Passwords
Passwords are your first line of defense when it comes to protecting your data. And if you think that your birthdate, favorite pet’s name, or a film quote will be enough to stop any data breach, then let’s just say that you’re terribly wrong.
If you want to make hackers’ lives more difficult, using strong passwords is a must. And if you’re worried about forgetting them, you can use special apps or write them down and keep somewhere safe.
Failing to Make Enough Backups
The rule is simple, if you lose your data, you’re toast, and there’s no coming back. Fortunately, there’s one simple way to ensure the valuable information your store won’t be lost – regular backups.
But what does regular mean? Well, if you’re a business owner, you should perform them at least a couple of days a week. The second question is where to store your backup data. When it comes to that, you have a few options. You can use cloud software, online backup service, or an external hard drive.
Forgetting to Educate Employees
You may trust your employees, but you should know one thing, they’re your most significant liability when it comes to online security. According to a 2018 study, negligent human behavior is estimated for 61 % of all cyber attacks.
If you want to ensure your employees won’t cause you any trouble, you need to educate them properly. Plan regular training regarding security awareness and create rules they have to follow when using the company’s internet.
Not Having a Business Continuity Plan
Even though it’s hard to predict when a cyber attack will take place, it doesn’t mean that you shouldn’t prepare for one. Here’s where a business continuity plan (BCP) comes in to ensure your enterprise will be able to continue its work without any significant disruptions.
Creating an efficient BCP will allow you to create a pattern of actions that you need to take in case of an emergency. It will protect your clients, minimize downtimes, allow you to anticipate risks, and save your reputation.
When a company doesn’t have a continuity plan, the chances of failure are much higher.
Wanting to Cut Too Many Costs
When you’re starting a business, it’s undata
derstandable that you want to cut as many costs as necessary. Unfortunately, many startups decide to save their money on cybersecurity. They buy unreliable security software or don’t invest in quality backup services.
What they don’t think about is that any cyber attack will cost them not only money but also reputation. Saving money on security is one of the worst mistakes you can make when starting a business.
The Bottom Line
The world of business is full of potential cyber threats. Failing to secure your startup correctly increases the risk of failure, yet plenty of small companies don’t understand the importance of online security.
If you want to ensure your company succeeds, you need to do everything you can to increase your defense. That means no cutting costs when buying software, no weak passwords, or forgetting to create a business continuity plan.
Avoiding these common mistakes is the first step you should make if you want to increase your company’s chances of not joining the high number of failed startups.