How much cybersecurity is enough for your startup?

When it comes to business cybersecurity they say, everyone in your business has a small or large role to play. But, if you’re the business owner, the outcome is ultimately up to you.

For small startup founders already wearing multiple hats, managing small business cybersecurity can often fall to the wayside for two reasons:

1.  You’re not sure where to start

2.  You don’t have the time to

The crux of it all – especially for tech startups – is that you need the fundamental elements of cybersecurity best practice in place to grow. Especially now, as consumers, employees, investors, and board members are more educated on its critical importance.

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But, you already have too many hats on as it is. Where do you start? And how much security is enough? ‍

For example, when you’re building a skyscraper there are foundational elements you need in place for it to meet its projected scale. In businesses, it’s no different. However, unlike large buildings where you’ll need to fork out the big bucks for construction specialists, with business cybersecurity, you can lay the foundation for scale at minimal cost by implementing these 3 elements:

1.  Protecting with multi-factor authentication - Multi-factor authentication is a method of electronic authentication that requires two or more pieces of evidence to authenticate a user.

2.  Detecting software vulnerabilities with patching – Patching can help your business to detect any software weaknesses before they become catastrophic overtime.  

3.  Recovering from worst-case scenarios with backups – Backups can provide your business resilience should a compromising cyberattack take place. ‍‍

When you’ve got these three foundations in place it will become easier to keep new and existing stakeholders happy, because you’ve got a clear and concise plan; a solid foundation for your business to grow from; and a clear path in case of any unexpected cyberattacks. ‍

However, if you need a little more convincing on why the above are so important, here’s a metaphor that emphasises just that. ‍

You’re in your house, cooking toast. For some reason you need to leave the room. Suddenly, the toast gets jammed, but you’re not there to move it. A small fire starts...

…Fortunately, you’ve applied best-practice fire safety measures throughout your house to stop it going completely up in flames.  

1.  The materials in your kitchen are flame retardant: they’re protecting you.

Like a modern kitchen, every business should build its cybersecurity practice around protection. Your cybersecurity needs flame retardant materials just like your house. Multi-factor authentication is an affordable measure that can protect your business from destructive cyberattacks. Reducing your business’ risk of quickly going up in flames.  

2.  Fire alarms communicate serious risks: they’re detecting for you.

Fire alarms are a critical safety feature of any home. For tech startups, patching should be considered the same, yet for many, it’s not. But what if your material defence (aka your multi-factor authentication) doesn’t work? What’s going to alert your business to a security breach? By running frequent patch testing you can catch on to and remove risks before they result in business flames.

3.  Extinguishers provide assurance should the worst case happen: they’ll help you with recovery.  ‍

Despite our best efforts of protection and detection, house fires unfortunately, still happen. Extinguishers provide that final layer of protection in the worst-case scenario. The same could be said for backups, and even, backup backups in business. While you may never need them, it’s better to have them there than to not.

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Cybersecurity plays an important role in the growth of any startup and while everyone involved in your business can help make it happen, it’s on you to make it work.

But, despite the responsibility cybersecurity withholds, it doesn’t need to feel difficult and stressful. By implementing the foundational elements, you can meet the demands of your key stakeholders without the weight of another hat.‍

Onwardly provides growing startups the advice, direction, and roadmaps they need to implement best practice cybersecurity measures to match their business scale. To learn more about what we offer, check out our products page or book a demo.