Startups are considered one of the main drivers of economic development around the world. New companies attract a lot of attention, and sometimes this attention comes from cybercriminals. How can startups recognize it’s time to respond to information security concerns?
Here’s an eight-point checklist. If you can identify even one of the signs below in your startup, it means you already need to think about your cyber defense.
Sign #1. Your startup is working with personal data, is transferring money, or is subject to government regulations. Nowadays, being able to do business in a specific area means complying with different standards and applying various frameworks. PCI DSS, HIPAA, PIPEDA (and the GDPR), SSL – these acronyms are widely known not only to businesses but also to customers, who want to be sure they are dealing with verified parties.
Sign #2. Your startup cares about your customers. Demonstrating to potential customers by taking care of cybersecurity that you are a reliable partner and know how to protect your relationship can help build rapport.
Sign #3. Your product is innovative. It’s hard to find a better way to keep your business secrets safe than implementing multi-layered security.
Sign #4. You work remotely. It has become the new norm to work away from offices, in hubs or coworking spaces. If the way your startup operates has changed during the pandemic, you must be prepared for the new challenges these unprecedented times have brought. Related security problems can show up instantly everywhere.
Sign #5. You’re looking for a competitive advantage. Sometimes, different startups offer similar solutions. If you can convince stakeholders that you can handle cyber risks better than your competitors, your business will benefit.
Sign #6. Your startup is preparing for the next round of funding and wants to increase its value. Investors are wary of providing funds to companies that can’t protect their assets or mitigate potential risks.
Sign #7. Your team has five or more people. There are many different endpoint solutions on the market, but if you’d like to protect your organization as a whole, five computers/users are usually the lowest reasonable number at which a security provider will help you with your needs.
Sign #8. You’ve heard news regarding a cyberattack. As you can see, hackers don’t care what industry you work in: banking, car rentals, pipelines, meat processing. You can’t avoid becoming a target, so you have to defend your business.
When a newborn begins to discover the world around them, they need protection and help in order to be able to develop further. It’s the same with startups: Once you start growing, you should think carefully about the measures that will assist you in maturing your business idea.
Small businesses and especially startups don’t have the time and money needed to build their own cybersecurity departments, so one other option is finding a managed security services (MSS) provider and connecting to a security operations center (SOC). In doing this, however, you need to be careful and make sure your cybersecurity partners offer tailored incident detection rules. A security operations center that offers out-of-the-box detection rules with a one-size-fits-all approach is not a good SOC. Your provider must be ready and willing to tailor their detection rules and policies to your needs.
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