I was sitting with my friend, Jeffrey Mann recently. Beyond picking each other’s brain and referring business, I told Jeff about CTSi’s Recent Cyber Security Webinar that covers the financial and legal risks that every business assumes just by being in business.
Jeff always gives valuable insights into how business owners think. He is right in the middle of everything a business owner is most concerned with — a business's finances. The conversation was a great reminder that a business owner must be intentional about measuring every expense and maximizing return on investment. One area where financial decisions can become particularly difficult is risk management.
Insurance, for example, is a complicated idea because if things go as you hope, you will never have to make a claim. If that is the case, the question is, have you failed to maximize your ROI on your insurance? Of course not. The actual service provided is the peace of mind you have knowing, if needed, protection is available regardless of whether or not a claim is made.
Here’s another example:
A seatbelt does not keep you safe while driving. Instead, it keeps you safe in the case of an accident. According to CarInsurance.com, drivers will file a claim for a collision about once every 17.9 years. The likelihood that today will be the day I need my seatbelt is quite low, but the risk of not having my seatbelt on when I actually need it is worth the minor inconvenience of using it while I drive. That's why I wear my seatbelt every time I operate a vehicle. While I consider myself a safe driver, statistically, I can assume I will need it some day.
I am often amazed by how many business owners simply choose to ignore the risks that cyber attacks pose to a business. IGNORING this risk is choosing to believe you are, in fact, not at risk. According to a recent FBI Cyber Crime Report, the reality is that no one is immune to this risk.
Believing I am a safe driver does not remove the risk of being in an accident. If I choose to ignore all the other risks out there on the road by not wearing my seatbelt, I'm rolling the dice with my life. You're rolling the dice with the life of your business if you're ignoring the risks of cyber attack in this technologically advanced world.
If you are a business owner who cares about maximizing the potential of your business, does it make sense to daily risk the integrity, operation, and future of your business? Frankly, that’s for you decide. As you evaluate the risk and return in other areas of your business, cyber security needs to be a part of that process. To ignore the risk, or to be uninformed, is blindly rolling the dice on the table.
Where should you start?
I’d recommend watching our recent webinar.
It’s free to watch and provides basic information both from a technological and legal standpoint so you can begin to understand your risk and make an informed decision.
Ignoring is only making an ignorant decision. Make the responsible choice and know your risks.
Watch the webinar here.
Director, Marketing & Sales