The Biggest Risk Is Not The One You Don’t Take, But The One You Don’t See
You’ve likely heard the saying, “The biggest risk is the one you don’t take,” which is often employed by motivational speakers to encourage audiences to seize opportunities and embrace challenges. While it may serve as a catalyst for action, experienced entrepreneurs and business executives understand the importance of taking calculated risks, not reckless ones.
Successful business professionals assess potential consequences and implement safeguards to reduce risks and potential losses. They recognize that unchecked optimism can be dangerous and that unforeseen obstacles are always lurking. This cautious mindset is exemplified by Warren Buffett’s two rules of investing: Rule #1 – Never lose money, and Rule #2 – Never forget Rule #1.
A crucial question to consider is where you might be unwittingly exposing your business and finances to undue risk. One area where many businesses take considerable, unaddressed risks is in data and cybersecurity.
Despite the mounting evidence of significant risks and financial consequences associated with cyberattacks, some still dismiss these threats with statements like, “Nobody is going to hack us…we don’t have anything they want,” or “We can’t get hacked because…” followed by unfounded reasons, such as using cloud applications or having a robust firewall. This false sense of security often stems from a desire to avoid spending the necessary resources to adequately protect data, businesses, and finances.
Howard Marks, CEO of Oaktree Financial, once stated that the less risk you perceive, the more risk there is. This means that if you believe there is little chance of encountering a problem, you’re more likely to let your guard down and fail to take necessary precautions. This is precisely why small businesses are the prime target for hackers. They are relatively easy prey and, although they may not offer the same prestige as larger targets, hacking millions of small businesses for a few thousand dollars each in ransomware can be lucrative.
Cyberattacks on small businesses often go unnoticed, as they rarely make the headlines. However, if you’re unsure about the extent of protection your business has in place against such threats, it’s essential to take action. Schedule a discovery call with a cybersecurity expert who can conduct a quick and easy cybersecurity risk assessment. This assessment can determine the effectiveness of your current IT protection and your overall risk level for a cyberattack, all at no cost to you.
Success is not always about achieving gains; sometimes, it’s about avoiding losses. If you could travel back in time and undo a few financial, business, or life decisions, you’d likely leap at the opportunity to correct past mistakes and implement measures to prevent losses. Unfortunately, there’s no magic solution to make this happen, so prioritizing cybersecurity and investing in prevention is undeniably worth it.
Don’t wait—contact us today for a free risk assessment by clicking here or calling us at 646-734-1820.
With over 25 years of experience, we at Motiva Networks can help you plan and see if your data has been compromised with a Free Confidential Cybersecurity Risk Assessment. Or you can schedule a quick 10-minute call to discuss the best options for your Agency or small business, or go over any questions you might have HERE.
Walter Contreras
Walter Contreras has over 25 years of experience in information technology, including cybersecurity, with a focus on the Insurance Industry. As both a computer scientist and a graduate of the Columbia University Business School’s Executive MBA program, Walter understands how the world’s digital transformation is impacting small and medium businesses. His mission is to deploy information technology to protect and empower entrepreneurs.
