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player ready...Believe it or not, 2017 is a mere eight weeks away. Even though many small business owners and sales professionals are potentially scrambling to meet fourth quarter sales goals, they probably aren’t thinking about 2017.
Yet, for any businesses — especially small businesses — to have sustainable growth requires specific time each week to be working on the business instead of just in the business.
For example, this election has provided all small businesses with one significant takeaway – IT cyber security. Domestic and foreign hackers are stealing emails to personal identities and even holding computer files for hostage. And let us not forget all the plagiarists out there swiping the intellectual property of others.
Cyber attacks are costly for small businesses. Up to 2015, the cost to U.S companies is a staggering $15.4 million. Small businesses with fewer than 100 employees accounted for 71 percent of all cyber attacks. In 2014, 44 percent of all small businesses had experienced a cyber attack. Those businesses globally within the financial industries experienced the greatest frequency of attacks.
The Internet has become the newest and largest playground for criminals. Now is not the time to have blissful ignorance because you were too busy working in your business instead of on your business.
Here are five tips to strengthen your small business against IT cyber attacks.
No. 1 – A written security IT policy must be created and then shared with all employees. IT security is now a part of the corporate culture just as building loyal customers. This policy would cover all risks and be aware of any new, evolving risks. If your small business is involved in the financial industry, remember your industry is the most targeted by IT criminals.
No. 2 – Employees must be trained on existing protocols for handling all electronic communication. This training must include how to handle a data breach. They must understand how dangerous it is to have weak passwords to leaving computers unattended. Passwords should be changed on a regular basis to ensure continued Internet security. See Tip No. 1.
No. 3 – Update all software to ensure your software has the most recent protocols against a possible cyber attack. Firewalls and other software can act as barriers to invading hackers provided you have the newest software update.
No. 4 – Remember old technology, the phone. Use the phone to verify any financial requests. Yes this may take a few minutes longer, but the cost savings is worth it.
No. 5 – Keep your financial records, including banking, on a separate computer that is not connected to the Internet. This is the safest way to keep hackers from accessing your financial information because financial institutions are the prime target for hackers.
For the next eight weeks, this column will look at current trends for 2017. Next week, the trend of remote workers and outsourcing will be the topic.
Leanne Hoagland-Smith is an author, speaker and executive coach. Her weekly column explores issues that impact the bottom line of firms with fewer than 100 employees. She can be reached at 219-508-2859.