You already know that cybercrime is a very real threat to you – but it’s very possible that you’re underestimating the potential damage, OR you are being ill-advised and underserved by the employees and/or vendors you hired to protect your business from these threats.
Just because your business is small doesn’t mean it is insignificant to potential cybercriminals. In fact, many hackers specifically target small businesses because they often make simple security mistakes that are easy to exploit. You can make changes right now to reduce the likelihood of a successful attack.
Here are six common cybersecurity mistakes you may have and how to fix them:
Mistake 1: Piecemeal approach
It’s tempting to stack new security measures on top of existing ones as new threats emerge. But this results in too many products and not enough integration. Every product has its own dashboard, controls, and alerts. And someone has to stay on top of it all. This lack of integration between security products makes it difficult to see threats holistically, and even harder to respond quickly and effectively. Instead, look for products designed to work together, and partner with companies that actively seek collaboration with the security industry.
Mistake 2: Insufficient security expertise
Cyberthreats continue to increase every day, and 43% of cyberattacks target small businesses, 1 which usually have limited IT resources in-house. Everyone else is focused on running the business, not security. You need help. Consider automated, software-based processes that can monitor your systems continuously and even take action when a threat is detected. Smart automation can save you time and energy, allowing you to focus on other priorities. Also, consider partnering with a specialized security provider. And finally, invest in educating your employees on security awareness so everyone can be part of the solution.
Mistake 3: Unsecured personal devices
How many ways do you access your business data? Even small businesses may have multiple computers, laptops in remote locations, personal smartphones, and tablets. A determined hacker can attempt access through many possible endpoints. In fact, 60% of breaches stem from a compromised endpoint, such as a personal device, according to Microsoft Secure Blog. Identity and access management (IAM) eliminates the complexity of multiple user credentials by giving each employee a single, secure identity to access all your network resources. And multifactor authentication (MFA) offers another layer of protection, requiring a user to present a password plus secondary authentication such as a fingerprint or code sent via SMS.
Mistake 4: ” I’m too small to be a target “
Cybercriminals increasingly target smaller businesses assuming that you may be complacent and unprepared. A study by the Better Business Bureau found that nearly one in four businesses with 250 employees or fewer reported having been the target of a cyberattack, and the overall annual average loss for smaller businesses from these attacks is estimated to be $79,841. Statistics show that nearly one in three security breaches starts with a phishing attack, costing the affected organization an average of $1.4 million. Make sure to invest in security, but realize that no program is 100% foolproof. Assume that you can be attacked and breached. Prepare an incident response plan, ensure continuous monitoring for suspicious activity, and organize the resources needed for a quick response to reduce the damage to your business.
Mistake 5: Overlooking the security of the cloud
Security is complex, and even well-funded enterprise IT departments struggle to stay on top of it. The correct cloud partner can do much of the heavy lifting for you and provide smart ways to encrypt and backup your data. Moving to the cloud doesn’t have to mean starting over from scratch. Evaluate your needs and make the move in stages. Or maybe employ a long-term hybrid strategy where some of your systems remain on-premises. Make sure to evaluate cloud service providers using international standards and look for vendors that publish detailed information about their security and compliance measures.
Mistake 6: Leaving data unprotected
Data travels outside your control when it’s shared by employees, partners, and customers. But trying to lock down everything discourages productivity and innovation, and eventually leads to employee workarounds if the inconvenience proves too great. Balance protection with productivity by focusing on security at the data level. Categorize your data based on how sensitive and critical it is to your business. Better yet, automate your data classification so the appropriate protections and monitoring are in place when the data is created. Protect what’s most important with the strongest measures, such as restricted access, limited sharing privileges, and encryption.
Build your security strategy— one step. Modern cybersecurity requires a coordinated, multifaceted approach. But it’s a journey, and each step you are taking makes a difference and reduces your risk. If you haven’t been attacked yet, assume that you will be a target eventually and look for partners to help. Start with this free Cybersecurity assessment, and get prepared to protect, detect, and respond to the threats that come your way.