Mitigating Business Risks: The Importance Of Cybersecurity And Free Risk Assessment For Small Businesses

“The biggest risk is the one you don’t take.” This phrase echoes through auditoriums worldwide, delivered by motivational speakers trying to inspire audiences to disregard caution and seize opportunities. While this mantra may encourage action and earn applause, seasoned entrepreneurs and executives understand the importance of calculated risks. They put safeguards in place, assess potential consequences, and understand that unchecked optimism can be dangerous in the world of cybersecurity.

Just take Warren Buffett’s two rules of investing as an example: Rule #1 – Never lose money. Rule #2 – Never forget Rule #1.

So, let’s consider where you might be exposing your business and your finances to unnecessary risk. One area where many businesses take considerable, unprotected risks is with their data and cybersecurity.

It can happen to anyone…

Despite clear evidence that the risk and financial implications of cyber-attacks are colossal, we often hear statements like, “Nobody is going to hack us…we don’t have anything they want,” or “We can’t get hacked because we use cloud applications,” or “we have a good firewall.” These excuses are often attempts to rationalize a reluctance to invest in proper cybersecurity measures.

Howard Marks, CEO of Oaktree Financial, once stated, paraphrased, the less risk you perceive, the more risk there is. This is particularly true for cybersecurity. Ignoring the risk doesn’t make it disappear; instead, it leaves you vulnerable and unprepared.

This is precisely why small businesses are the prime target for hackers: they are easy prey. They may not provide the prestige of bringing down a corporate giant like Dole or infiltrating Microsoft Azure, but hacking numerous small businesses for small ransom sums is lucrative. These attacks often fly under the radar because they don’t make the headlines, much like the majority of the six million car accidents that occur annually.

Stay protected

If you’re uncertain about your cybersecurity measures, click here to schedule a brief discovery call with us. We can conduct a quick and straightforward cybersecurity risk assessment and determine if your current IT provider is adequately protecting you and the level of risk you face from a cyber attack. This service is free and comes with no obligations or costs.

Remember, success isn’t always about gains; sometimes, it’s about avoiding losses. Given the chance to go back in time and prevent poor financial, business, or life decisions, most people would jump at the opportunity. Unfortunately, we don’t have a genie in a bottle, but we do have preventative measures against cyber attacks. An ounce of prevention in cybersecurity is unquestionably worth a pound of cure. Contact us today for your FREE Cybersecurity Risk Assessment. Questions? Call (937)291-9900 or click here.