(Missed part one? Check it out here.)

Every new technology or process you introduce could create new vulnerabilities and introduce new risks for your business. This is why safety should always be part of your innovation plan. 

Building security into your process from the start helps ensure that innovation doesn’t come at a cost—namely the loss of your organization’s reputation or operations. Follow these tips to safeguard your business while fueling growth. 

Make security part of the plan from the start 

To make security a foundational element of your innovation strategy, consider IT connectivity and infrastructure at the start of your technology venture, not later or as an afterthought. Otherwise, security vulnerabilities may creep in. 

For instance, deploying a new customer-facing mobile app to streamline payments and communication may seem like a great idea. But, if you focus solely on the app’s features and rolling it out quickly, while disregarding the security requirements that come with handling and integrating sensitive data, you may end up with an app that’s susceptible to data breaches or unauthorized access. This could put customer data and your business reputation at risk.  

Some technology is secure by design, meaning that security is built in from the start to help you protect data and maintain trust. So make sure you seek out these purpose-built business solutions as you explore your options.  

To keep your business protected, your employees should be trained on best practices and how their actions can positively or negatively impact security. By involving them in your strategy, you can make sure all team members understand that security is a shared responsibility.  

And remember: security isn’t something you can cross off your to-do list. It’s critical to regularly audit and update your security measures to stay ahead of evolving threats. This could include: 

  • Evaluating existing systems for weaknesses 
  • Applying software updates 
  • Adapting policies and best practices as new risks emerge 
  • Implementing and updating antivirus and anti-malware software to detect and resolve threats 
  • Enforcing multi-factor authentication (MFA) to prevent unauthorized access 
  • Backing up critical data regularly to ensure business continuity if a cyberattack were to occur  
  • Ensuring compliance with the latest relevant regulations and industry standards  

Manage risks smartly 

In addition to auditing and updating your security approach, it’s also smart to regularly assess and prioritize business risks. This means asking questions like:  

  • What external factors (economic shifts, regulatory changes, or new competitors) are impacting our exposure to risk? 
  • What internal factors (outdated systems, staffing levels, or organizational culture) are impacting our exposure to risk? 
  • Overall, which of these risks are our business most susceptible to?  
  • How likely are these risks to occur?  
  • What is the potential impact on our business if these risks were to materialize? 
  • How prepared are we to handle and respond to these risks? 

You need to have a clear plan in place to respond to security incidents—because small businesses aren’t immune to the threats posed by bad actors. According to a cybersecurity report from Microsoft, one in three small businesses were hit with a cyberattack last year, causing an average loss of $254,445.  

Your plan should outline the steps to take in the event of a breach or business disruption so you can minimize impact and recover quickly. It should also include a schedule and process to regularly test backup and recovery systems. 

Don’t let third-party risks creep in 

If you partner with vendors or agencies, be sure to vet them before bringing them into your organization. Do they meet your security standards? Don’t sign that contract or give them access to your systems until you: 

  • Conduct your due diligence by evaluating their commitment to data privacy and security. 
  • Verify that they comply with recognized security standards and frameworks like NIST. 
  • Review your security policies and procedures with them to make sure everyone’s on the same page. 
  • Ask for documentation of the security policies and procedures they have in place. 
  • Investigate the vendor’s track record by checking for past security incidents, legal issues, or regulatory violations. Ask for their historic metrics on false positives and average response time to zero-day vulnerabilities.  
  • Clearly define access protocols—which systems and data they will and won’t have access to. 
  • Regularly review their security practices, require updated certifications, and monitor for breaches or compliance violations. 

By implementing these best practices, you can safeguard your small business from potential operational setbacks, legal complications, and reputation damage that could result from a vendor failing to protect your data or meet your security requirements. 

Balance innovation with security 

As you make technology investment decisions, it’s important to keep innovation and security in check. One shouldn’t overshadow the other. By investing in flexible, scalable, purpose-built solutions, you can ensure that, as your business grows, your technology will be able to keep up and remain secure. 

Learn how a comprehensive connectivity solution can help keep your business running smoothly, and bring it all together with part three!