business plan for cyber security

Cyber Security Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their cyber security companies.

If you’re unfamiliar with creating a cyber security business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a cyber security business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your cyber security business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a cyber security business or grow your existing cyber security company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your cyber security business to improve your chances of success. Your cyber security business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for cyber security Businesses

With regard to funding, the main sources of funding for a cyber security business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for cyber security companies.

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How to write a business plan for a cyber security business.

If you want to start a cyber security business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your cyber security business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of cyber security business you are running and the status. For example, are you a startup, do you have a cyber security business that you would like to grow, or are you operating a chain of cyber security businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the cyber security industry.
• Discuss the type of cyber security business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of cyber security business you are operating.

For example, you might specialize in one of the following types of cyber security businesses:

• Remote security center services : This type of cyber security is focused on providing comprehensive security for networks and devices remotely from a main control center.
• Cloud security services . As more businesses turn to storage in cloud platforms, this type of service protects the data of clients from being utilized by others in that platform.
• Vulnerability scan & management: This service screens client devices and network systems remotely on a monthly maintenance basis.
• Endpoint security services: This service is dedicated to the mobile and end user devices in corporate offices; protection for computers is not included.

In addition to explaining the type of cyber security business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of security breaches determined, the amount of revenue earned, or reaching X number of clients served, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the cyber security industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the cyber security industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your cyber security business plan:

• How big is the cyber security industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your cyber security business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your cyber security business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: government contractors, for-profit corporations, securities businesses, private security services, and individuals.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of cyber security business you operate. Clearly, government contractors would respond to different marketing promotions than individuals, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other cyber security businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. Software companies, home or office hardware, and remote alarm services  may be examples of indirect competitors. You will want to mention any direct competition, as well.

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of cyber security business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective. And, don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide discounts for major government contractors?
• Will you offer scan protection and management that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

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Marketing plan.

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a cyber security business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of cyber security company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide in-person and remote cyber security services for major corporations or will you offer compliance solutions for select clients?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your cyber security company. Document where your company is situated and mention how the site will impact your success. For example, is your cyber security business located in a professional business district, a quiet corporate area, a standalone building or a remote, unnamed location? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your cyber security marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in trade magazines
• Reach out to websites
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your cyber security business, including answering calls, planning and providing scan management, responding to emergency situations, billing clients and assisting with computer equipment, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your cyber security business to a new city.

Management Team

To demonstrate your cyber security business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing cyber security businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a cyber security business or successfully running a data management business.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you increase customer retention by 20% quarterly, offer reduced pricing for hardware maintenance contracts, or offer discounted packaged pricing for multiple services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your cyber security business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a cyber security business:

• Cost of computer and software equipment
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, furnishings and travel expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include the cyber security credentials of the CEO and COO or a list of client contracts.

Writing a business plan for your cyber security business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the cyber security industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful cyber security business.

Cyber Security Business Plan FAQs

What is the easiest way to complete my cyber security business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your cyber security company business plan.

How Do You Start a Cyber Security Business?

Starting a Cyber Security business is easy with these 14 steps:

• Choose the Name for Your Cyber Security Business
• Create Your Cyber Security Business Plan
• Choose the Legal Structure for Your Cyber Security Business
• Secure Startup Funding for Your Cyber Security Business (If Needed)
• Secure a Location for Your Business
• Register Your Cyber Security Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Cyber Security Business
• Buy or Lease the Right Cyber Security Business Equipment
• Develop Your Cyber Security Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Cyber Security Business
• Open for Business

Where Can I Download a Free Business Plan Template PDF?

Click here to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements. Here’s the link to our Ultimate Business Plan Template.

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How to Start a Cybersecurity Business

Back to All Business Ideas

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on February 9, 2022 Updated on April 10, 2024

Investment range

$7,050 - $19,100

Revenue potential

$120,000 - $900,000 p.a.

Time to build

0 – 12 months

Profit potential

$96,000 - $270,000 p.a.

Industry trend

As technology struggles to stay ahead of hackers, cybersecurity has emerged as one of the fastest growing markets, worth more than $150 billion today and expected to more than double by 2026. A data breach can cost a big business billions of dollars, and if you’re trained in cybersecurity, you already know that your skills are in huge demand. If you’re not trained, getting cybersecurity education and certification is not too difficult, and a key investment if you start your own cybersecurity business.

For the security of your business investment, however, you need business knowledge as well as technical knowledge. Fortunately, this step-by-step guide is loaded with information and insight that will put you on the path to cybersecurity success.

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Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a cybersecurity business has pros and cons to consider before deciding if it’s right for you.

• Huge Market – Services will be in high demand
• Multiple Services – Security analysis, upgrades, monitoring
• Provide Value – Strong cybersecurity saves businesses billions
• Stiff Competition – Everybody’s getting into cybersecurity these days
• Long Hours – Ensuring tech security can be a 24/7 job

Cybersecurity industry trends

The cybersecurity market is being driven by the increase in computer and internet usage, improved hacker skills, and various regulations. 

Industry size and growth

• Industry size and past growth – The US cybersecurity industry is valued at more than $58 billion in 2022.(( https://www.statista.com/outlook/tmo/cybersecurity/united-states )) 
• Growth forecast – The US market is predicted to grow around 8% per year through 2026. Globally, the $150 billion cybersecurity industry is expected to grow more than 13% annually through 2027.(( https://www.mordorintelligence.com/industry-reports/cyber-security-market ))
• Number of businesses – Research platform CyberDB says it has listed more than 3,500 cybersecurity vendors in the US.(( https://www.cyberdb.co/database/usa/ ))
• Number of people employed – The Bureau of Labor Statistics says there were more than 140,000 jobs for information security analysts in 2020, and the career is growing 33% per year through 2030.(( https://www.bls.gov/ooh/computer-and-information-technology/information-security-analysts.htm ))

Trends and challenges

Trends in the cybersecurity industry include:

• Artificial intelligence (AI) and machine learning are being increasingly used to detect and resolve security threats . These are important tools for cybersecurity professionals to use. 
• Machine to machine (M2M) and Internet of Things (IoT) connections are increasing the need for cybersecurity, driving demand in the market. The need for cloud security and information security is also boosting demand.

Challenges in cybersecurity include:

• Businesses using outdated hardware make it difficult to ensure cybersecurity.
• The number of potential cybersecurity threats is increasing, and each requires threat detection abilities and a security solution. 
• The increase in remote work represents a new challenge for cybersecurity firms, as they have to find ways to protect distant connections.

What kind of people work in cybersecurity?

Cybersecurity engineers design the security architecture.

• Gender – 84% of cybersecurity engineers are male, while 16% are female.(( https://www.zippia.com/cyber-security-engineer-jobs/demographics/#gender-statistics ))
• Average level of education – 60% of cybersecurity engineers hold a bachelor’s degree.(( https://www.zippia.com/cyber-security-engineer-jobs/demographics/#degree-level-types ))
• Average age – The average age of a cybersecurity engineer is 42 years old.(( https://www.zippia.com/cyber-security-engineer-jobs/demographics/#age-statistics ))

How much does it cost to start a cybersecurity business?

Startup costs for a cybersecurity company range from $7,000 to $20,000. Costs include a high-end computer system and relevant software. The high end includes education and certifications, if you don’t already have them. 

There are a host of different certifications, including cybersecurity expert, information security analyst, big data analysis, threat intelligence, and more. Find detailed information from the National Initiative for Cybersecurity Careers and Studies .

You’ll need a handful of items to successfully launch your cybersecurity business, including: 

• A computer system
• Network security monitoring tools
• Encryption tools
• Web vulnerability scanning tools
• Penetration testing tools
• Antivirus software
• Network intrusion detection tools
• Packet sniffers

How much can you earn from a cybersecurity business?

For analysis and installation of cybersecurity systems, prices vary from $1,000 to upwards of $10,000. Ongoing security monitoring ranges from $1,000 to $10,000 per month. The below calculations assume a price of $2,500 for each. If you’re working from home, you should be able to achieve a profit margin of about 80%.

In your first year or two, you could get one new client per month at $2,500 upfront, while also maintaining an average of three monthly clients. This would bring in $120,000 in annual revenue and a tidy profit of $96,000, assuming that 80% margin. 

As your brand gains recognition and you start to get referrals, sales could climb to 10 new clients per month and 20 clients paying for monitoring. At this stage, you would rent a commercial space and hire staff, reducing your profit margin to around 30%. With annual revenue of an impressive $900,000, you would make a very comfortable $270,000.

What barriers to entry are there?

There are a few barriers to entry for cybersecurity. Your biggest challenges will be:

• Gaining education, certification, and experience
• Funding complete startup

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Step 2: hone your idea.

Now that you know what’s involved in starting a cybersecurity business, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research cybersecurity companies in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a company that offers advanced threat intelligence. 

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as system analysis.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products or services

Your services will depend on your skills and certifications. Having a full suite of security services is probably your best bet in terms of earning money, but you could specialize in one area, such as system analysis.

How much should you charge for cybersecurity services?

Cybersecurity services can vary greatly depending on the size of the system and network. System analysis and the installation of firewalls and other security elements can range from $1,000 to $10,000 or more. The same numbers apply to monthly security monitoring. Your costs will be limited to software and marketing, so as a solopreneur working from home you should aim for a profit margin of about 80%. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your markup and final price point. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your initial target market will be small businesses, which you can find on LinkedIn. You could also find local businesses on search and review platforms like Google Maps and Yelp! and reach out to them directly. 

Where? Choose your business premises

In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out an office.  Find commercial space to rent in your area on sites such as Cra i gslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Business Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better 
• Name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “cybersecurity” or “tech security”, boosts SEO
• Name should allow for expansion, for ex: “SafeGuard Cybersecurity Solutions” over “Ecommerce Secure Solutions”
• Avoid location-based names that might hinder future expansion

Discover over 290 unique cybersecurity business name ideas here. If you want your business name to include specific keywords, you can also use our cybersecurity business name generator. Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Business Plan

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

• Executive Summary: A concise summary outlining the core elements of the cybersecurity business plan, including its mission, vision, and key financial highlights.
• Business Overview: An overview detailing the nature of the cybersecurity business, its mission, target market, and key value proposition in the cybersecurity sector.
• Product and Services: A description of the specific cybersecurity products and services offered, highlighting their unique features and benefits.
• Market Analysis: An examination of the cybersecurity market, identifying target customers, market trends, and potential growth opportunities for the business.
• Competitive Analysis: An assessment of competitors in the cybersecurity industry, analyzing their strengths and weaknesses to position the business effectively in the market.
• Sales and Marketing: A strategy outlining how the cybersecurity business plans to promote and sell its products and services, including key marketing channels and sales tactics.
• Management Team: Introductions and brief bios of key individuals in the cybersecurity business, emphasizing their relevant experience and skills.
• Operations Plan: Details on the day-to-day operations of the cybersecurity business, including infrastructure, technology, and processes to ensure effective cybersecurity services.
• Financial Plan: A comprehensive financial overview, including revenue projections, expenses, and profit margins, providing a clear picture of the business’s financial health and sustainability.
• Appendix: Additional supporting documents and information, such as detailed market research, legal documents, or any other relevant data that strengthens the cybersecurity business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to cybersecurity businesses. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your cybersecurity will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just needs to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans : This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans : The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants : A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital : Venture capital investors take an ownership stake in exchange for funds, so keep in mind that you’d be sacrificing some control over your business. This is generally only available for businesses with high growth potential.
• Angel investors : Reach out to your entire network in search of people interested in investing in early-stage startups in exchange for a stake. Established angel investors are always looking for good opportunities. 
• Friends and Family : Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding : Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal : Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a cybersecurity business. You might also try crowdfunding if you have an innovative concept. If you’re successful, you may be able to attract venture capital or angel investors.

Step 8: Apply for Licenses and Permits

Starting a cybersecurity business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your cybersecurity business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.  

You may want to use project management software, such as ClickUp , asengana , or Notion , to manage your projects, tasks, and workflows.

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial. 

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

For your cybersecurity business, the marketing strategy should focus on highlighting your expertise in protecting against digital threats, your cutting-edge technology, and your commitment to client confidentiality and trust. Emphasize the sophistication of your security solutions, the qualifications of your team, and your success stories in safeguarding client data. Here are some powerful marketing strategies for your future business:

Kickstart Marketing

• Professional Branding : Your branding should communicate security, trust, and technical expertise. This includes everything from your logo and company website to your business cards and marketing materials.
• Direct Outreach : Network with businesses, offer free security assessments or webinars, and engage with potential clients at industry events, conferences, and online forums.

Digital Presence and Online Marketing

• Professional Website and SEO : Develop a comprehensive website that outlines your services, shares client testimonials, and provides valuable resources on cybersecurity. Implement SEO best practices to optimize your site for search terms related to cybersecurity services, IT security, and data protection.
• Social Media Engagement : Use platforms like LinkedIn for B2B networking, Twitter for sharing industry news and insights, and YouTube for educational content about cybersecurity.

Content Marketing and Engagement

• Cybersecurity Blog : Publish informative articles on current cybersecurity threats, best practices, and tips for businesses and individuals.
• Case Studies and Success Stories : Highlight how your services have successfully protected clients from digital threats.
• Webinars and Online Workshops : Host educational sessions that offer value to your target audience, such as how to recognize phishing attempts or the basics of data protection.

Experiential and In-Person Engagements

• Cybersecurity Seminars and Conferences : Participate in or host events that focus on educating businesses about cybersecurity risks and solutions.
• Networking Events : Regularly attend or host networking events to build relationships with potential clients and partners in related fields.

Collaborations and Community

• Partnerships with Tech Firms and Consultants : Collaborate with technology firms, consultants, and local business organizations to offer comprehensive security solutions.
• Community Outreach : Engage in community outreach programs to educate the public about cybersecurity, potentially partnering with educational institutions or local businesses.

Customer Relationship and Loyalty Programs

• Custom Security Solutions : Offer personalized consultations to create customized security solutions, emphasizing the direct attention and tailor-made strategies you provide.
• Client Education and Training : Provide ongoing education and training resources for clients to keep them informed about evolving cybersecurity threats and prevention strategies.

Promotions and Advertising

• Targeted Advertising : Utilize digital advertising platforms to target businesses that may be in need of cybersecurity services.
• Email Marketing : Develop a targeted email marketing campaign to nurture leads, share cybersecurity updates, and promote your services.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your cybersecurity business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your cybersecurity business could be: 

• The best 24-hour on-call live security monitoring 
• Frustrate hackers with top-of-the-line cybersecurity
• Keep your business safe with a full suite of cybersecurity tools 

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a cybersecurity business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in cybersecurity for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in cybersecurity. You’ll probably generate new customers or find companies with which you could establish a partnership. 

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a cybersecurity business include:

• Cybersecurity Specialists – security services and monitoring
• Cybersecurity Engineers – analysis and installation
• General Manager – staff management, scheduling, accounting
• Marketing Lead – SEO strategies, social media, other marketing

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Cybersecurity Business – Start Making Money!

Cybersecurity is vital for most businesses today, which is why it’s one of the world’s fastest growing industries. The US is a major market and expected to sustain its strong performance, given the increasing cyber risks and threats as most companies undergo digital transformation. There’s still time to get in on the ground floor and grab a slice of this massive market with your own cybersecurity business. 

You can start from home and eventually hire a team and build a tech security empire. Now that you’ve sharpened your knowledge, it’s time to secure your future with your new cybersecurity business!

• Cybersecurity Business FAQs

You can start a cybersecurity company for about $7,000 if you already have cybersecurity education and certifications or a degree. The main costs are for a computer and software, so if you already have those tools, your costs will be far less. 

A cybersecurity business can be very profitable. Cybersecurity services are in high demand and don’t come cheap, so even if you’re a solopreneur working from home, you can make great money.

There’s no required license, though you will need to be certified in cybersecurity to attract clients. You may also need business licenses and permits at the state and local levels. Check with your local governments for requirements or visit MyCorporation’s Business License Compliance page.

There are a host of different certifications that you can get in various areas of cybersecurity. You can find more information from the National Initiative for Cybersecurity Careers and Studies .

Cybersecurity can be challenging due to the evolving nature of threats and the need for continuous learning and adaptation. It requires technical expertise, critical thinking, problem-solving skills, and staying updated with the latest security trends and technologies.

To acquire cybersecurity clients, consider networking, referrals, digital marketing, partnering with other businesses, and proactive outreach to industries in need of cybersecurity services.

Industries that often have a high demand for cybersecurity include finance and banking, healthcare, government and public sector, technology and software, and e-commerce and retail.

Starting a cybersecurity company with no experience can be challenging. Acquire relevant certifications, gain hands-on experience, continuously learn and stay updated, and consider collaborating with experienced professionals or partnering with established cybersecurity firms.

The industry with the most cyberattacks can vary, but finance, healthcare, government, and technology sectors are commonly targeted due to the value of the data they hold. However, cybersecurity threats can occur in any industry, and businesses of all types should prioritize cybersecurity.

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Business Name
• Create a Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business
• Apply for Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Cybersecurity Business - Start Making Money!

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Home » Sample Business Plans » Security

How to Write a Cyber Security Business Plan [Sample Template]

Are you about starting a cyber security company? If YES, here is a complete sample cyber security business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a cyber security business. We also took it further by analyzing and drafting a sample cyber security business marketing plan template backed up by actionable guerrilla marketing ideas for cyber security businesses. So let’s proceed to the business planning section.

Why Start a Cyber Security Business?

The internet is one innovation that has changed the world; and yet as helpful as the internet has been, it has also caused a lot of problems, as cyber crimes are being committed daily by either individuals or groups of people. The cyber crimes being committed range from financial, personal to national security issues and so many more.

They attack individuals, businesses and even the government by tapping calls, monitoring emails or hacking websites to extract sensitive information, which is why more efforts are being put in place to secure data from those seeking to use them for purposes that are against what the owner intends.

Starting a cyber security business is therefore a lucrative business to go into because individuals, businesses and the government need their data protected. However, to start this kind of business, you will need to have technical skills that will be needed to secure data or stop an ongoing attack for your client.

Due to the technical nature of this business and the need to understand what you will be getting into from the business aspect, it would be wise to consult a business consultant in the area where you intend starting the business. This is to enable the business consultant go through your business concept and advise you on whether to proceed with the business or not. If your business concept is a great one, the business consultant would offer you tips and suggestions on the way forward.

Another important aspect that you would need to take care of before starting your business is writing a comprehensive business plan . A business plan is a document that shows holistically where your business is headed and if you will likely succeed with the business you intend to start.

Writing a business plan is however not an easy task especially the financial aspect, but it is important for your business. You can either hire the services of a business plan writer or go online to get a free business plan template to use as an aid in writing a business plan for your business. Below however is a sample cyber security business plan template for you.

A Sample Cyber Security Business Plan Template

1. industry overview.

According to Ponemon Institute, within the year 2015, the costs associated with cyber crime was 19% higher than it was in 2014. Globally, a hack in 2014 cost companies on the average $7.7 million. This has led 20% of companies globally to create cyber crimes budget between $1 million and $4.9 million depending on the scale of the company and ensure its strict implementation.

This has also led to huge investments in cyber security firms, as the first half of 2015 saw investors pumping nearly $1.2 billion into start-ups in this industry. According to forecasts, the investments were likely to reach $77 billion as at the end of 2015. The industry has also been pegged to reach $170 billion by the year 2022.

According to PricewaterhouseCoopers (PwC), globally, 58 percent of companies have an overall security strategy; 49 percent conduct periodic threat assessments, 48 percent monitor and analyze security intelligence actively. However, according to KPMG, 50 percent of CEOs globally with more than $500 million in revenue are usually not prepared as they should for a cyber attack.

However worrisome the threat of an attack externally is, companies now also have to worry about internal attacks from employees. According to a survey by SANS 2015, 74 percent of Chief Information Security Officers, CISOs are more worried about internal than external cyber attacks. According to a survey conducted by PwC, 34 percent of cyber attacks in 2015 were from current employees and 28 percent from former employees.

The damage caused by cyber crime is estimated to hit $6 trillion by the year 2022. This has led to a forecast that there will be an estimated increase in spending by companies for cyber security between the periods of 2017 and 2022 to $1 trillion. According to Gartner, as at 2016, more than $80 billion was spent on products and services related to cyber security. This is however expected to exceed $1 trillion globally within a five year period.

The cyber security industry is one that is fast paced as there is zero percent unemployment rate in this industry. The industry in fact has unfilled positions that are expected to reach 1.5 million by the year 2019. This shows that there is severe shortage of talent especially as more cyber crimes are being committed almost every other day as breaches continue to rise, with security incidents in 2015 at a 38 percent increase than as at 2014.

It has been estimated that by 2022, more than 4 billion people will be susceptible to attacks over the internet. The united states Government between the periods of 2006 and 2016 has spent over 0 billion. It also budgeted a whopping $14 billion in 2016 for cyber security.

According to Intel, the number of devices that will be connected might reach 200 billion in 2023; this is from the 15 billion connected devices in 2015. However, Microsoft and Cisco has countered the report claiming that only 50 billion devices will have been connected by 2022. Regardless of the estimated number, the report points to the same fact that more people will be online and will be vulnerable to cyber attacks.

2. Executive Summary

Kaboosh Tech is a standard and leading cyber security firm that is based in Mountain View – California here in the United States of America. We are in business to design cyber security solutions for our various clients – domestic and corporate. Asides from our core services, we also offer consultancy, training and technical support to our numerous clients.

Our location here in Mountain View – California is a very strategic one as we are in one of the most engaging tech communities in the whole United States of America, which therefore means that we are close to all the relevant tech companies, and other assorted stakeholders.

Our vision is to ensure that we are amongst the top five cyber security firms within three years of starting our business. We also intend to be known for our innovativeness in the cyber security world. We also intend to ensure that we are engaged in fair practices, which means that for the kind of business we would run, we intend to hold ourselves to a high standard so that our clients’ confidence in us won’t be misplaced.

In view of this, we are prepared to go the extra mile in ensuring that we build a solid business structure. We are prepared to source for and recruit only the best employees that will help grow and sustain our cyber security business.

Our management team is comprised of individuals with the best skills and experience. All those in the management team know what it means to ensure that a business such as ours is able to attain all its intended goals and objectives. Our management team believe in our values and philosophies and are fully committed to ensuring that we are a force to reckon with.

Due to the fact that we are in a very competitive industry, where being proactive is one of the factors that allows a business exist for long, we are always on the know about the trends in the industry and even intend to create a few trends as well within our one year of operation.

Finally, our Chief Executive Officer, Mr. Kab Oshe is one of the top cyber security men in the industry and has worked in several stints. He is known for not only for being innovative but for his business acumen as well. We are confident that with him at the helm we will be able to achieve all our set goals and objectives.

3. Our Products and Services

At Kaboosh Tech we intend to offer our customers forward thinking cyber security services that will enable them to remain ahead in whatever industry they are in.

However, because we are established to not only offer services but also generate revenue as well, we intend to increase our sources of income by offering additional services such as consultancy service and training. We intend to make as much profit as is legally permissible under the laws of the United States of America.

Below therefore are some of the services we intend to offer our various customers;

• Cryptography
• Programming
• System Hardening
• Consultancy and Advisory Services
• Technical Support

4. Our Mission and Vision Statement

• Our vision is to ensure that we are amongst the top five cyber security firms within three years of starting our business. We also intend to be known for our innovativeness in the cyber security world.
• In order for us to achieve our vision, we intend to build the best business structure that will see us employing only the best here at Kaboosh Tech.; our intention is to not only meet but exceed the expectations of our customers.

Our Business Structure

Due to the fact that we intend to build a standard cyber security firm here in Mountain View – California, we have put in place, plans and processes that would ensure that we get it right from the beginning as we intend to go the extra mile in picking the best employees to come and work with us at our firm.

Our management team is comprised of the best hands who have not only had several experiences in the industry that would be of huge benefit to our business but also has been attuned to our corporate goals and objectives and are willing to work to ensure that we are able to attain these goals and objectives.

Due to the fact that we would not be running a conventional cyber security firm especially in regards to the different services that we would be offering, we would be hiring more employees than necessary to handle the various roles and objectives that will crop up.

Below therefore is the business structure which we intend to build for our cyber security firm.

Chief Executive Officer

Administrative Manager

Human Resources Manager

Chief Information Security Officer

Security Administrator

Customer Service Executive

Marketing and Sales Team

Security Guard

5. Job Roles and Responsibilities

• Creates the right policies and strategies that will lead the direction of the firm
• Assembles the right management personnel and delegates certain responsibilities to them for the benefit of the firm
• Meets and negotiates with high level clients on behalf of the firm
• Ensure that the administrative functions are performed smoothly
• Ensures that other management staff are aligned with company policies at all times
• In charge of the day-to-day affair of the firm
• Prepares financial information, statements and reports on behalf of the firm
• Carries out internal audit and financial forecast
• Prepares tax documents and ensures that it is submitted to the right authorities
• Sources for, interviews and recruits competent and experienced employees to work for the firm
• Creates human resource policies and ensures that they are strictly adhered to
• Ensures that employees undergo training as at when due and that periodic performance appraisals are also conducted
• Responsible for establishing the vision of the organization and creates strategy to ensure that the organization’s information and technologies are protected
• In charge of developing strategies and policies that will handle security related incidents
• Allocates security resources efficiently and for the overall benefit of the organization
• Responsible for creating system defense against unauthorized access or modifications from external threats
• Configure the right security tools such as anti-virus software, firewalls and patch management systems on behalf of the firm
• Performs on behalf of the firm, vulnerability and networking scanning assessments
• Responds correctly to customers inquiries and orders
• Remains aware and informed of company policies as well as industry trends in order to give customers accurate information
• Keeps an updated customer database for the firm
• Responsible for conducting market survey that would determine new target markets for the firm
• Meets with and negotiates with clients on behalf of the firm
• Conducts direct marketing and sales with a view to generating revenue and attaining the corporate sales goals of the firm
• Ensures that the premises remains clean at all times
• Ensures that cleaning stock are always in supply and that depleted stock are replenished
• Carry out any other duty as might be assigned by the management
• Patrols the premises and ensures that it is free from any form of trespassers
• Watches the surveillance camera in order to forestall any suspicious activity or person
• Carries out any other duty as might be determined by the management
• Runs official errands on behalf of the firm
• Ensures that traffic rules and regulations are obeyed and a logbook kept on behalf of the firm
• Carries out preventive maintenance on the vehicle on behalf of the firm

6. SWOT Analysis

Our intention to build a standard and world class cyber security firm here at Mountain View – California has led us to seek the services of a reputable business consultant who understands the market thoroughly to take a look at our business concept and determine if we are likely to survive in the industry we intend going into.

Using four major attributes to analyze our business – strengths, weaknesses, opportunities and threats – the business consultant was able to bring our some facts that we are going to use in determining how well placed we are to start this business.

Therefore the results of the SWOT analysis conducted on behalf of Kaboosh Tech are;

Our strength lies in the fact that we are offering various services to all our customers, which has made us get a huge share of the market and to effectively compete against our competitors. Our employees are not only creative but very capable in ensuring that we are not only able to meet the demands of our customers but that we are able to surpass them as well.

Our employees are amongst the best paid in the industry of cyber security and especially amongst start-ups, this has led to our brand becoming well known in the short while that we have started. Our chief executive officer has a vast experience in this industry and has worked in various capacities in other cyber security firms and will therefore bring the right experience to bear for our firm, thereby allowing us to attain our goals and objectives.

The cyber security business is a crowded one and so it will not be so easy for us to break into this market, even as strategic as our location is. Also, because we are basically a new business, we do not have the staff strength and financial resources that will enable us effectively compete against our competitors.

• Opportunities

The cyber security market is one that has plenty of opportunities both at making a name or at making money and we fully intend to explore both. We will conduct a market research that will enlighten us more on the opportunities available to us and how we can use that to our advantage.

There are several threats that we are likely to face when starting or running the business and the first is the fact that we are going to face competitors with similar services coming to our location to start up their business. Another threat we are likely to face is with changing trends, but we will ensure that we do all we can to always be proactive so that we can easily adapt to trends.

7. MARKET ANALYSIS

• Market Trends

The healthcare sector was not spared in 2015 as it was struck by major breaches that saw 80 million records being compromised. This didn’t just start in 2015, because since 2009, close to one-third of Americans have been victims of breaches in several healthcare companies. This act has led many healthcare companies to invest more in cyber security so as to protect the data of their customers.

There are majorly two types of threats that companies face, and there are inside and outside threats. Inside threats are usually carried out by a company’s current or former employee. According to PricewaterhouseCoopers (PwC), more than 34 percent of the cyber attacks that occurred in 2015 were from current employees who were still working with the firm while about 28 percent were from former employees.

Outside cyber attacks however are often carried out by hackers, activists, government agencies and organized crime outfits amongst other kinds of people and they are usually carried out within minutes while using several methods such as RAM scraping, phishing, spyware or credential theft.

8. Our Target Market

Almost everyone who has connected devices is susceptible to cyber attacks, which would be basically everyone in the United States of America. However, in order to have an accurate data as regarding those who we would be focusing on, we intend to conduct a market research that will allow us know who our true target market are and who might be our target market in the near future.

The market research we intend to conduct however will allow us identify what is expected from us by the target market and what we should expect from them as well. In view of this, we are therefore in the cyber security market to offer our services to the following groups of people and businesses;

• Healthcare companies
• Financial institutions
• Government agencies
• Tech Companies
• Celebrities
• Small businesses
• Educational institutions
• Political organizations

Our competitive advantage

Our intention of starting Kaboosh Tech is to ensure that we offer our clients cyber security services that will allow them remain proactive ahead of their attackers. We intend to be amongst the top five preferred brands by our target market and among the top three cyber security firms in the United States of America. However, in order for us to achieve this feat, we have come up with several competitive strategies that will allow us to favorably compete against our competitors.

We understand the cyber security market and most of our products are preventive in nature, which causes more companies to prefer our security designs that will allow them remain proactive in business.

We have a vast number of experienced people on board who understand the cyber security market and who know how to bring our start-up from scratch to become a major force to be reckoned with in the industry and amongst consumers. We are constantly ensuring that our employees remain stimulated enough in order to not only meet but exceed the expectations of our clients; both corporate and domestic.

We have ensured that not only is our facility strategically located here in Mountain View – California but also that we create an environment that is not only conducive but one that mentally stimulates and brings out the creative juices for the sustainability and growth of our business.

Our employees are also well paid better than what similar start-ups here in Mountain View, Palo Alto, and Silicon Valley are paying their employees. Also, we are in tune with trends and ensure that all our employees go through training and attend seminars every now and then so as to enhance their skills, thereby boosting productivity for our company.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Kaboosh Tech is a cyber security firm that has been established with the sole intention of generating revenue and maximizing profit in the cyber security industry here in Mountain View – California. We intend to ensure that we make as much profits as we can not only in the United States of America but all over the world as well.

Kabbosh Tech will therefore generate income by offering the following services;

10. Sales Forecast

Cyber crimes have led to a lot of companies and individuals investing more in cyber security in order to protect their data and sensitive information.

Our location in Mountain View – California is very strategic as we are in one of the tech communities and so have a lot of opportunity to generate the necessary revenue that will not only sustain our business but have us making enough profits in our first six months of operation.

We however carried out a critical examination of the cyber crime market cum software and tech industry in order to determine our chances in the market and what our sales forecast is likely to be. In conducting our sales forecast, we made use of information and assumptions from similar start-ups not only here in Mountain View but also in other tech communities here in California.

Therefore, the sales projections for Kaboosh Tech based on the data and information gathered are as follows;

• First Fiscal Year-: $500.000
• Second Fiscal Year-: $950,000
• Third Fiscal Year-: $2,000,000

N.B : Our projected sale is very moderate compared to what we are actually going to make but we chose to be on the safe side. The assumptions used in this instance were that there won’t be any competitor within the time period and that we would not change locations too. Should however any of the assumptions change, the sales projected figures would either increase or decrease.

• Marketing Strategy and Sales Strategy

Marketing is a very important aspect for any business either new or existing as this is where revenue for the business is not only generated in order to sustain and grow the business, but awareness for both existing and new customers for the business is created as well. The importance of marketing has seen businesses keeping a separate budget and creating marketing policies and strategies that will allow it to stand out in the market place.

In view of this, we are conducting a thorough marketing strategy that will enable us know who our target market is, what it is they want from us, and what we should expect from them. The marketing research is also essential because it would allow us know what strategies would be effective in the short and long run and how much we would need to set aside as a marketing budget that will allow us compete favorably against our competitors.

In this regard, we have engaged the services of a reputable marketing consulting firm here in Mountain View who have dealt with firms such as ours and created marketing strategies that were effective for them. Our choice of using a marketing consulting firm rose from the fact that as this is an intensely competitive industry, we would need all the help we can get to position our business to a standard that will allow us to achieve all our goals and objectives.

We also intend to empower our marketing and sales team to ensure that marketing strategies created for the firm are in line with our core values, goals and philosophies and will seek to promote our brands at all times. Our marketing team has the right therefore to modify or remove ineffective strategies that might harm the firm in the long run.

Therefore, the following are the marketing strategies that we will adopt at Kaboosh Tech;

• Formally introduce our cyber security firm by sending introductory letter to healthcare companies, financial institutions, government agencies, tech companies and other stakeholders in the cyber security market
• Throw an elaborate party to launch our cyber security firm in such a way as to generate awareness about our firm
• Place adverts in local and national newspapers and tech magazines as well as on radio and television stations about our cyber security firm
• Engage in direct marketing and sales by negotiating with clients
• Install billboards in strategic locations all around Mountain View and around California as well
• Use our social media platforms and other tech platforms to vigorously market our cyber security firm

11. Publicity and Advertising Strategy

Due to the intense competition in this industry, cyber security firms that do not engage in the right publicity are bound not to survive long in the business. While publicity and advertising is very important for any business, knowing the right strategies to use due to the nature of the business will ensure that corporate goals and objectives are easily adhered to.

In regards to this, we have engaged the services of a reputable publicity consulting firm here in Mountain View – California with the right knowledge and expertise to help us draft strategies that will not only promote the brand of our company, positively communicate our brand and allow us stand out but one that will allow us to compete favorably against our competitors.

Therefore, some of the publicity and advertising strategies that we would use to promote Kaboosh Tech are;

• Attend seminars and relevant tech and software conferences in order to network and increase awareness about our brand
• Develop trial versions of our cyber security products for users and have them buy the original as soon as they are satisfied with the services from our products
• Use social media platforms such as Facebook, Linkedin, Google Plus and Twitter to vigorously promote our brand
• Create an interactive website and promote contests from our brand or from other brands
• Participate in and sponsor relevant community programs here in Mountain View – California
• Distribute handbills and fliers in strategic locations here in Mountain View

12. Our Pricing Strategy

Determining the right price for our products and services here at Kaboosh Tech will depend on a whole lot of factors such as how strong our products are, what category of products and services our customers will be demanding, how unique the products are, what our competitors are offering and what our overhead and running expenses would be.

Because of how competitive the market is, we intend to offer discounted price on some of our products as well as other incentives for the first two months of operation in order to increase the awareness for our product and attract more customers to purchase from us. Even though we would be offering a discounted price, our analysis has shown that while we might be having a low gross margin, we would not be running at a loss.

• Payment Options

Due to the high value we have for our customers and how sweet we want their experience at our company to be, we at Kaboosh Tech have come up with different payment options that will suit all our various customers and whatever preferences they might have.

Therefore, the payment options that we intend to make available to our various clients are;

• Cash payment
• Payment via check
• Payment via online payment portal
• Payment via Point of Sale (POS) Machine
• Payment via bank draft
• Payment via credit card
• Payment via crypto-currency

The above payment options were deliberately chosen to be able to cater to the diverse needs of our clients and they suit our business too. We intend to assure our customers that these platforms will work smoothly without hitches of any sort.

13. Startup Expenditure (Budget)

The cyber security business is not such a hard business to start but if however you intend setting up a business that is standard then you would need to spend a bit more in ensuring that the most important aspects are well covered. Mostly the bulk of the capital would be used in procuring equipment, leasing a facility, buying a van and paying the salaries of employees for a defined period of time.

Therefore the key areas where we intend to spend our start-up capital on are;

• Total fee for registering Kaboosh Tech in the United States of America – $750
• Obtaining of the necessary licenses, permits, accounting and customer software as well as other legal expenses – $2,250
• Insurance policy (general liability, workers’ compensation and property insurance) – $2,000
• Leasing of a facility for use for at least five years and carrying out renovations – $100,000
• Cost of hiring a business consultant – $2,000
• Operational cost for the first 3 months (salaries of employees and payment of utility bills) – $150,000
• Other start-up expenses which includes (virus detection software, bug tracking, anti-viruses, software subscription and cable broadband) – $15,000
• Marketing promotion expenses (general marketing expenses and promotion activities towards the grand opening ceremony of Kaboosh Tech – $5,000
• Administrative expenses (stationery, phone, computers, printers, furniture, business cards, office supplies, and stamps)  – $30,000
• Cost of purchasing an official fairly used van – $20,000
• Cost of launching a website – $1,000
• Cost of throwing a grand opening party – $5,000
• Miscellaneous – $8,000

From the above analysis, it is apparent that we need an estimate of $341,000 if we intend to start and run a standard and successful business here in Mountain View – California. It should be noted that the bulk of the capital will go into leasing a facility for a period of five years, paying the salaries of employees as well as utility bills for a period of three months, purchasing a van for official errands as well as getting the necessary equipment to start our cyber security business here in Mountain View – California.

Generating Funding/Startup Capital for Kaboosh Tech Business

Kaboosh Tech is fully owned and run by Mr. Kab Oshe. Due to the fact that we do not intend to seek for an external investor to be part of our business, we will therefore source for funding from other sources. The following are the different areas where we intend to source our start-up capital from;

• Generate part capital from personal savings and sale of stocks
• Source for part capital from online crowdfunding sites
• Apply for loan from commercial bank

N.B : We got the sum of $100,000 from our personal savings and sale of stocks. We registered in a crowdfunding site and were able to generate the sum of $100,000 for our cyber security business. We have been able to secure the sum of $141,000 from our commercial bank after signing several documents. The loan is to be repaid in 7 years at the rate of 3% per annum.

14. Sustainability and Expansion Strategy

Ensuring that our business not only exists but is sustained for as long as we want to remain in business is a priority to us and we have therefore concentrated on the factors that we know will enable us sustain and expand our cyber security business here in Mountain View – California. The factors that we intend to concentrate on are ensuring that we build the right business structure, engage in effective publicity and advertising strategies, as well as ensure that we retain a high percentage of our clients.

Finally, we understand that without our customers, our business is going to fail, and so we pay a high amount of attention to our customers. We understand how important they are to our business and we will ensure that all employees adopt an excellent customer culture.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting feasibility studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing/Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party/launching party planning: In Progress
• Establishing business relationship with vendors – wholesale suppliers/merchants: In Progress
• Purchase of trucks: Completed

More on Security

How To Write a Business Plan for Cyber Security Business in 9 Steps: Checklist

By henry sheykin, resources on cyber security company.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

In today's digital age, cyber threats are becoming increasingly prevalent, making strong cybersecurity measures a necessity for businesses of all sizes. According to recent statistics, the global cybersecurity market is projected to reach a staggering $363 billion by 2027, with a compound annual growth rate of 12.5% .

With such a significant market opportunity, starting a cyber security business can be a wise and lucrative venture. However, before diving into this competitive industry, it is crucial to develop a solid business plan that will set the foundation for success.

By following these 9 essential steps, you can create a comprehensive and effective business plan for your cyber security business:

• Identify your target market and competition
• Conduct thorough market research
• Define your unique value proposition
• Determine the legal structure and requirements for your business
• Create a detailed financial plan and budget
• Develop a pricing strategy and determine your revenue streams
• Identify and secure potential partnerships or alliances
• Outline your marketing and sales strategies
• Conduct a risk analysis and develop a risk management plan

Each of these steps plays a critical role in building a successful cyber security business. From understanding your target market and competition to developing a strong financial plan and implementing effective marketing strategies, this checklist will guide you through the process of creating a comprehensive business plan tailored for your cyber security venture.

By investing time and effort into developing a solid business plan, you will be well-prepared to navigate the competitive landscape of the cyber security industry and position your business for long-term success.

Identify Your Target Market and Competition

When starting a cyber security business, it is essential to identify your target market and understand your competition. This step will help you determine the specific needs and preferences of your potential customers and allow you to position your business effectively in the market.

Market research is crucial in this stage. Conducting thorough market research will provide you with valuable insights into the current cybersecurity landscape, trends, and customer behavior. Analyze the size of the market, potential growth, and the specific industries or sectors that are most vulnerable to cyber threats.

Once you have identified your target market, create a detailed customer profile that includes key demographics, such as industry, company size, geographic location, and IT infrastructure. This profile will assist you in tailoring your services and marketing efforts to meet the specific needs of your ideal customers.

• Consider focusing on industries that handle sensitive customer data, such as healthcare, finance, or e-commerce, as they often prioritize strong cybersecurity measures.
• Research your competition to determine their strengths, weaknesses, and market positioning. This will help you differentiate your business and highlight your unique value proposition.
• Stay up-to-date with the latest cybersecurity threats and emerging technologies to ensure your services align with the evolving needs of your target market.

Identifying your target market and understanding your competition will lay the foundation for your business plan and guide your marketing and sales strategies. It will enable you to effectively communicate the value of your specialized cyber security services to your ideal customers and stand out in a competitive market.

Conduct Thorough Market Research

When starting a cyber security business, conducting thorough market research is crucial for understanding the industry landscape, identifying potential customers, and gaining insights into your competition. This research will help you make informed decisions and develop effective strategies to position your business for success.

Here are some important steps to consider when conducting market research for your cyber security business:

• Identify the target market: Determine the specific industries or sectors that are most likely to require cyber security services. This could include healthcare, finance, government, or any other industries where data protection is paramount. Understanding your target market will help you tailor your services and marketing efforts accordingly.
• Analyze market trends: Stay updated on the latest trends and developments in the cyber security industry. This could include emerging threats, new regulations, or advancements in technology. By keeping abreast of these trends, you can position your business to offer relevant and innovative solutions.
• Assess competition: Research and analyze your competitors, both locally and globally. Identify their strengths, weaknesses, pricing models, and the services they offer. This will help you differentiate your business and develop a unique value proposition.
• Understand customer needs: Talk to potential customers and understand their pain points, challenges, and priorities when it comes to cyber security. This will allow you to tailor your services and marketing messages to address their specific needs.
• Explore market demand: Estimate the potential demand for cyber security services in your target market. Look at industry reports, surveys, and market data to gauge the market size, growth potential, and any untapped opportunities.
• Analyze pricing and revenue models: Research the pricing strategies used by existing cyber security businesses. Evaluate different revenue models, such as one-time project fees, recurring monthly subscriptions, or retainer-based contracts. This will help you determine competitive pricing and identify potential revenue streams.

Tips for conducting effective market research:

• Utilize online resources, industry forums, and social media platforms to gather insights and connect with industry experts.
• Consider conducting surveys or focus groups to gather feedback directly from your target audience.
• Attend industry conferences, trade shows, and networking events to stay connected with the latest industry trends and meet potential customers and partners.
• Keep an eye on regulatory changes and compliance requirements that may impact the cyber security industry.
• Regularly update your market research to stay ahead of emerging trends and changes in customer needs.

By conducting thorough market research, you will gain a comprehensive understanding of the market dynamics, customer needs, and competitive landscape. This knowledge will serve as a strong foundation for building a successful cyber security business.

Define Your Unique Value Proposition

When starting a cyber security business, it is crucial to clearly define your unique value proposition. Your unique value proposition is what sets your business apart from the competition and makes it compelling to potential customers. It is the answer to the question: 'Why should customers choose your cyber security services over others?'

To define your unique value proposition, consider the following:

• Identify your target market: Understand the specific needs and pain points of your target market. Determine what challenges they face in terms of cybersecurity and how your services can address those challenges.
• Evaluate the competition: Research and analyze your competitors to identify what makes them unique or different in the market. This will help you position your business and distinguish your value proposition.
• Highlight your expertise: Emphasize your team's experience, certifications, and specialized knowledge in cyber security. This will build credibility and trust among potential customers.
• Showcase your technology: If you have developed any proprietary or innovative technology for cyber security, highlight it as a differentiating factor. Explain how this technology provides a unique advantage and enhances the effectiveness of your services.

Tips for Defining Your Unique Value Proposition:

• Focus on the specific benefits your services offer, rather than just the features.
• Use clear and concise language to communicate your value proposition.
• Highlight any awards, recognitions, or industry affiliations that showcase your expertise and trustworthiness.
• Consider conducting surveys or interviews with potential customers to gain insights into their needs and preferences.
• Regularly review and refine your value proposition to stay competitive and relevant in the evolving cyber security landscape.

By clearly defining your unique value proposition, you will be able to differentiate your cyber security business in the market and attract customers who recognize the value of your services. This will ultimately contribute to the long-term success and growth of your business.

Determine The Legal Structure And Requirements For Your Business

When starting a cyber security business, it is crucial to determine the legal structure and requirements for your business. This will not only ensure that you comply with the necessary regulations and laws, but also help you establish a solid foundation for your operations. Here are a few key considerations:

• Choose the right legal structure: Decide whether you want to set up your cyber security business as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each option has its own pros and cons, so it's important to seek legal advice to determine which structure is best suited for your specific needs.
• Register your business: Research and comply with the registration requirements in your jurisdiction. This typically involves registering your business name, obtaining necessary permits or licenses, and completing any required paperwork.
• Protect your intellectual property: Depending on the nature of your cyber security services, you may have valuable intellectual property that needs protection. Consider trademarking your business name or logo, and consult with an intellectual property attorney to safeguard your innovations and proprietary information.
• Ensure compliance with data protection laws: The cyber security industry deals with sensitive information and data protection is of paramount importance. Familiarize yourself with relevant data protection laws, such as the General Data Protection Regulation (GDPR) if you operate in the European Union. Implement robust security measures to safeguard client information.
• Obtain liability insurance: Given the nature of the services you will be providing, it is prudent to have appropriate liability insurance to protect your business from potential legal claims or cybersecurity breaches.
• Consult with an attorney who specializes in cyber security or business law to ensure compliance with all legal requirements.
• Consider drafting contracts and agreements with clients and partners to clearly define your responsibilities and protect your business interests.
• Stay updated with evolving legal and regulatory requirements in the cyber security industry to adapt your business practices accordingly.

Create A Detailed Financial Plan And Budget

When starting a cyber security business, it is crucial to create a detailed financial plan and budget to ensure the success and sustainability of your venture. This step involves careful consideration of the various aspects of your business's finances and the allocation of resources to different areas. Here are some important factors to consider:

• Estimate your startup costs: Determine the initial expenses required to launch your business, including equipment, software, office space, staff salaries, and any necessary certifications or licenses.
• Identify your sources of funding: Explore different funding options, such as self-financing, loans, grants, or seeking investment from angel investors or venture capitalists.
• Project your revenue: Forecast your expected revenue based on market research and analysis. Consider factors like the size of your target market, pricing strategies, and potential growth opportunities.
• Calculate your expenses: Take into account all your business expenses, including salaries, marketing and advertising costs, technology investments, insurance, rent, utilities, and any legal or accounting services required.
• Set financial goals: Establish achievable short-term and long-term financial goals for your business. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART).

Tips for creating a detailed financial plan and budget:

• Consider hiring a professional accountant or financial advisor to assist you in creating an accurate and comprehensive financial plan.
• Regularly review and update your financial plan to adapt to changes in the market and the growth of your business.
• Monitor your expenses closely to ensure that they align with your projected budget.
• Keep detailed records of all financial transactions and regularly analyze your financial performance.

By creating a detailed financial plan and budget, you can effectively manage your resources and make informed decisions that will benefit the growth and stability of your cyber security business. Remember, financial planning is an ongoing process, so regularly evaluate and adjust your plan as needed to ensure continued success.

Develop A Pricing Strategy And Determine Your Revenue Streams

Developing a pricing strategy is crucial for the success of your cyber security business. It involves determining how much to charge for your services and products, as well as identifying various revenue streams to ensure a steady income. Consider the following steps to develop an effective pricing strategy and establish your revenue streams:

• Evaluate the market: Research industry trends and analyze the pricing models used by your competitors. Determine what the market is willing to pay for cyber security services and use this information as a benchmark for setting your prices.
• Consider your costs: Calculate the costs associated with delivering your services, including labor, technology, overhead expenses, and any third-party tools or software. This will help you establish pricing that covers your expenses while ensuring a reasonable profit margin.
• Offer tiered pricing: Consider offering different levels of service packages at varying price points to cater to different customer needs. This allows clients to choose the level of protection that best suits their requirements and budget while maximizing your revenue potential.
• Include value-added services: Identify additional services or benefits you can provide to differentiate yourself from competitors. These value-added services can justify higher pricing tiers and appeal to clients seeking comprehensive cyber security solutions.
• Consider subscription models: Explore the possibility of offering subscription-based pricing models, which provide recurring revenue streams. This can include monthly or annual contracts for ongoing monitoring and support, ensuring a predictable income for your business.
• Regularly review and adjust your pricing strategy to remain competitive and adapt to market changes.
• Consider offering discounts or promotions for new clients to attract business and establish a customer base.
• Offer add-on services that clients can choose to enhance their existing cyber security measures, providing opportunities for upselling.
• Consider bundling services together to create enticing packages and increase the overall value perception.

Developing a well-thought-out pricing strategy and diversifying your revenue streams will help position your cyber security business for long-term success. It ensures that you are pricing your services effectively while generating sustainable income to support your operations and growth.

Identify And Secure Potential Partnerships Or Alliances

In the world of cyber security, partnerships and alliances can play a crucial role in the success and growth of your business. By collaborating with other companies or organizations, you can leverage their expertise, resources, and networks to expand your reach and offer more comprehensive solutions to your clients.

One important step in this process is to identify potential partners or alliances that align with your business objectives and target market. Look for organizations that complement your services and have a strong reputation in the industry. Consider reaching out to established cyber security firms, IT service providers, or technology companies that can enhance your offerings and add value to your clients.

Securing these partnerships or alliances requires building relationships and demonstrating the value you bring to the table. Start by reaching out to the key decision-makers or business development representatives of these organizations. Highlight the unique aspects of your cyber security business and how it can benefit their clients or customers.

• Clearly articulate how a partnership or alliance will create a win-win situation for both parties involved.
• Highlight the specific resources or expertise that you bring to the table, such as specialized tools or deep knowledge of a particular industry.
• Emphasize the potential for mutual growth and the ability to tap into each other's networks.

Once you have established interest from a potential partner, it is important to establish clear expectations and responsibilities in a formal agreement. Outline the scope of the partnership, the specific roles and responsibilities of each party, and the terms of collaboration. Seek legal advice if needed to ensure that the agreement protects the interests of both parties and is enforceable.

Tips for identifying and securing partnerships or alliances:

• Attend industry conferences, trade shows, and networking events to meet potential partners face-to-face.
• Utilize online platforms and social media to connect with industry leaders and organizations.
• Consider joining professional associations or organizations related to cyber security to expand your network.
• Be proactive in reaching out and initiating conversations with potential partners.
• Focus on building trust and rapport through open and transparent communication.

Remember, partnerships and alliances can help you enhance your capabilities, access new markets, and stay competitive in the ever-evolving field of cyber security. Take the time to identify the right partners and establish strong relationships that can contribute to the long-term success of your business.

Outline Your Marketing And Sales Strategies

Once you have identified your target market and competition, conducted thorough market research, and defined your unique value proposition, it's time to outline your marketing and sales strategies. These strategies will help you reach your target audience, generate leads, and ultimately convert those leads into paying customers.

To begin, identify the most effective channels through which to reach your target audience . This could include online platforms such as social media, search engine optimization (SEO), and email marketing, as well as offline methods such as attending industry events or participating in trade shows.

Create a comprehensive marketing plan that outlines the specific tactics and activities you will utilize to reach your target audience. This plan should include a timeline, budget, and measurable goals to track your progress and success.

Develop a strong online presence to establish credibility and attract potential customers. This can be achieved by creating a professional website that showcases your services and expertise, regularly publishing relevant content through a blog or resource center, and leveraging social media platforms to engage with your audience and share valuable insights.

In addition to your digital efforts, consider implementing traditional marketing strategies such as print advertisements, direct mail campaigns, or partnering with other businesses to co-market your services.

To effectively convert leads into customers, develop a compelling sales strategy . This may involve creating a sales pipeline, identifying key decision-makers within target companies, and customizing your approach based on their specific needs and pain points.

Offering special promotions or discounts can also help incentivize potential customers to choose your cyber security services over your competitors. This can be particularly effective for companies that are just starting and need to build their customer base.

Lastly, continuously measure and analyze your marketing and sales efforts to identify areas of improvement and optimize your strategies. This can be done through tools like web analytics, tracking key performance indicators (KPIs), and seeking customer feedback.

• Personalize your marketing messages to resonate with your target audience's pain points and challenges.
• Build relationships with industry influencers or thought leaders to increase your credibility and reach.
• Offer educational resources, such as webinars or white papers, to establish yourself as a trusted authority in the cyber security industry.
• Consider partnering with complementary businesses, such as IT service providers or software companies, to cross-promote your services.

Conduct A Risk Analysis And Develop A Risk Management Plan

Conducting a risk analysis is crucial for a successful cyber security business. It allows you to identify potential vulnerabilities, threats, and risks that your business and clients may face. This analysis will help you understand the security landscape and determine the level of protection required for your clients' networks, applications, and data.

Here are some important steps to consider during the risk analysis process:

• Identify and assess potential security threats and vulnerabilities: This includes conducting a comprehensive assessment of your clients' systems, network infrastructure, and applications to identify any potential weaknesses or vulnerabilities.
• Evaluate the impact and likelihood of each risk: Once the potential risks are identified, it is important to assess the impact and likelihood of each risk scenario. This helps prioritize and allocate appropriate resources for risk mitigation.
• Develop a risk management plan: A risk management plan outlines the strategies and measures you will take to mitigate and manage identified risks. It includes implementing appropriate security controls, establishing response procedures, and assigning responsibilities.
• Regularly monitor and update risk management efforts: Cyber threats are constantly evolving, and new vulnerabilities may emerge. It is crucial to regularly monitor and update your risk management efforts to adapt to these changes.

Tips for conducting a successful risk analysis:

• Stay up-to-date with the latest trends and developments in the cyber security industry to identify emerging risks.
• Engage with industry professionals, experts, and regulatory bodies to gain insights and stay informed about best practices.
• Invest in advanced threat intelligence tools and technologies to enhance your risk analysis capabilities.
• Educate your team and clients about potential risks and preventive measures to create a proactive security culture.
• Regularly review and update your risk management plan to ensure its effectiveness.

A comprehensive risk analysis and a well-developed risk management plan are essential components of a robust cyber security business. By understanding and mitigating potential risks, you can provide your clients with the confidence and assurance they need to protect their critical assets from cyber threats.

Writing a business plan for a cyber security business is crucial to ensure its success and profitability. By following these 9 steps, you can create a comprehensive plan that covers all aspects of your business, from identifying your target market to developing a risk management strategy. Taking the time to carefully consider each step will help position your business for growth and establish a strong foundation in the competitive cyber security industry.

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Cybersecurity Business Plan (CBP)

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Cybersecurity Business Plan (CBP) Template 

Product walkthrough video.

This short product walkthrough video is designed to give a brief overview about what the CBP is to help answer common questions we receive.

What Is The Cybersecurity Business Plan (CBP)?

The  Cybersecurity Business Plan (CBP)  is a business plan template that is specifically tailored for a cybersecurity department, which is designed to support an organization's broader technology and business strategies. The CBP is entirely focused at the CISO-level, since it is a department-level planning document. 

Our products are one-time purchases with no software to install - you are buying Microsoft Office-based documentation templates that you can edit for your specific needs. If you can use Microsoft Office or OpenOffice, you can use this product! The CBP contains a template and guidance to develop organization-specific mission, vision, strategy, objectives, etc. in an editable Microsoft Word format. The following content is what you will have in the CBP with examples that you can easily modify for your specific needs:

• Organizational description
• SWOT analysis
• Definition of success
• Value proposition
• Department-level "elevator pitch"
• Prioritized objectives
• Concept of Operations (CONOPS)
• Mid-term planning
• Long-term planning
• Marketing plan
• Financial plan
• Capability Maturity Model (CMM) target definitions

The CBP can serve as a foundational element in your organization's cybersecurity program. It can stand alone or be paired with other specialized products we offer. 

What Problems Does The CBP Solve?  

• Lack of In House Security Experience - Writing security documentation is a skill that many good cybersecurity professionals simple are not proficient at and avoid the task at all cost. On top of that, writing a cybersecurity-specific business plan is a skill that not many CISOs have experience with, so it is an often outsourced or neglected activity.
• Budget Justification  - Having a coherent plan is a valuable tool for a CISO to defend budgets, since it enables the CISO to paint a long-term picture for the cybersecurity department and why the investment makes good business sense.
• CISO Career Protection - Having a documented business plan is valuable from a CISO's perspective more than just in defending staffing and budget requests. In cases where a viable business plan is rejected from a funding perspective by senior management, a CISO at least has evidence of appropriate due care on their part. In the event of a breach/incident where the CISO is "on the hook" for the blame, a CISO can demonstrate how the CIO/CEO/CXO that rejected the CISO's recommended practices and funding request(s) that could have prevented the incident now own that risk. It is a way to pass risk up the chain of command.

Our customers choose the  Cybersecurity Business Plan (CBP)  because they:

• Have a need for a timely and cost-effective solution to document their cybersecurity strategy and roadmap.  
• Need to be able to edit the document to their specific needs.
• Have documentation that is directly linked to best practices, laws and regulations
• Need an affordable solution

How Does the CBP Solve These Problems?  

• Clear Documentation - The CBP provides comprehensive cybersecurity business planning documentation to prove that your security strategy and roadmap exists. This equates to a time saving of considerable staff time and tens of thousands of dollars in either lost productivity or consultant expenses!
• Time Savings - The CBP can provide your organization with a semi-customized solution that requires minimal resources to fine tune for your organization's specific needs. 

Being a Microsoft Word document , you have the ability to add/remove/edit content, as needed. We've provided an "80-90% solution" from the perspective of formatting and content, where you merely polish off the specifics that only you would know about your organization and its culture. While we did the heavy lifting in the research and development of this cybersecurity planning document, we estimate that a mid-sized organization should be able to finalize the CBP in about 5-10 hours . That final customization focuses on "owning" the document where you wordsmith the example statements that we provide so that the content of the document is specific to your organization and relates to specifically what you do. 

Ideally, your organization's CISO is the individual who will edit/finalize the CBP. Fortunately, the CBP is written in a format that it can be "ghost written" for the CISO by their subordinates (we understand the time constraints many CISOs experience and planning functions are often delegated). In these instances, the CBP can easily be edited and finalized based on the CISO's existing guidance to subordinates.  It is important to understand that goals are not the same thing as a strategy!  It is often the case where there are a lot of good ideas and "shopping lists" for products/initiatives, but there is a lack of a formalized strategy to accomplish a set of goals. This is where the CBP is a valuable resource, since it creates a formal cybersecurity strategy and roadmap!

Product Example - CBP - Cybersecurity Business Plan Template

The CBP is a fully-editable Microsoft Word document that you can customize for your specific cybersecurity business planning needs. You can see the table of contents below to see everything the CBP covers. Due to the concise nature of the document, we are limited to what content we can share publicly for examples.

View Product Example

Cost Savings Estimate - Cybersecurity Business Plan (CBP) Template

The CBP is affordable when compared to alternatives. The cost is equivalent to about five (5) hours of a cybersecurity professional's time, which is a fraction of the time it would take to create a similar document on its own. When you look at the costs associated with either (1) hiring an external consultant to write cybersecurity documentation for you or (2) tasking your internal staff to write it, the cost comparisons paint a clear picture that buying from ComplianceForge is the logical option. Compared to hiring a consultant, you can save months of wait time and tens of thousands of dollars. Whereas, compared to writing your own documentation, you can potentially save over a hundred hours of staff time and the associated cost of lost productivity. Purchasing the CBP from ComplianceForge offers these fundamental advantages when compared to the other options for obtaining quality cybersecurity documentation:

• For your internal staff to generate comparable documentation, it would take them an estimated 120 internal staff work hours , which equates to a cost of approximately $9,000 in staff-related expenses. This is about 1-2 months of development time where your staff would be diverted from other work.
• If you hire a consultant to generate this documentation, it would take them an estimated 80 consultant work hours , which equates to a cost of approximately $24,000 . This is about 2-4 weeks of development time for a contractor to provide you with the deliverable.
• The CBP is approximately  8% of the cost for a consultant or 22% of the cost of your internal staff to generate equivalent documentation.
• We process most orders the same business day so you can potentially start working with the CBP the same day you place your order.

The process of writing cybersecurity documentation can take an internal team many months and it involves pulling your most senior and experienced cybersecurity experts away from operational duties to assist in the process, which is generally not the most efficient use of their time. In addition to the immense cost of hiring a cybersecurity consultant at $300/hr+ to write this documentation for you, the time to schedule a consultant, provide guidance and get the deliverable product can take months. Even when you bring in a consultant, this also requires involvement from your internal team for quality control and answering questions, so the impact is not limited to just the consultant's time being consumed. 

Template For Creating A Cybersecurity Strategy & Roadmap

ComplianceForge provides businesses with exactly what they need to for cybersecurity planning at a very affordable cost. Similar cybersecurity business planning documentation can be found in Fortune 500 company that have dedicated cybersecurity staff. The architect for the CBP is a former military officer and MBA who has years of experience building cybersecurity business plans and has extensively written on the subject. 

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WHY CYBERSECURITY?

Find out the importance of these documents for your business.

Read exclusive information about cybersecurity from Compliance Forge.

How To Start And Run A Successful Cyber Security Business

December 20, 2022

Adam Hoeksema

The digital economy shows no sign of slowing down, and with growing billions of people using mobile technology, an increase in mobile interactions brings a corresponding increase in security threats. Data security is critical to both individuals and businesses and it’s thought that by 2025, cyber-attacks will be responsible for $10.5 trillion in annual damages

All this means there’s a huge market for cyber security, and though it’s a bit of a mad scramble of competition, it will be a long time before the market is saturated. If you’re looking for how to start a cyber security company, you’ve come to the right place. Now may be a good time to do it, and we’ve got some help for you in this piece. 

Cyber Security Businesses: An Industry Overview

In 2021, the global cyber security market was valued at almost $140 billion. This is expected to increase with a CAGR of 13.4 until 2029 when it is expected to reach over $376 billion. 

The market is driven by emerging e-commerce apps and the wider adoption of fundamental techs such as smart devices and machine learning. Advancements in these fields are driving improvements in security solutions, and major players are now launching AI-enabled, automated cyber threat detection, creating a high bar of entry for the top competition. 

Growing demand for these solutions is being met by investment from countries all over the world and the banking, insurance, manufacturing, and healthcare industries in particular are expected to drive market growth by way of their increased adoption of such products in the foreseeable future. 

This adoption of advanced tech is one of the rapidly emerging market trends to jump on, and with it, an increase in the adoption of cloud computing. This form of data storage is part of what’s fueling such significant international investment for internet security solutions, investigating network and internet security projects for governments, consequently inspiring an increase in adoption in multiple industries.

Challenges to the market have been significant. The pandemic resulted in 43% of small and medium business owners reporting temporary shutdowns, impacting the demand for internet security systems worldwide. On the other hand, governments, healthcare systems, and manufacturers all grew exponentially during this time, forcing key players to adjust their sights to prioritize the security industrial operations.

There is still a lack of expert talent to match the growing demand, and this is one of the key restraining factors in the industry. 

However, these are challenges that create opportunities rather than stifle them. There remains a lack of sufficient spending on the problem of cyber security and plenty of opportunities for businesses that are capable of breaking into the market. There may be no better time for innovation in the industry for simpler, improvised technologies to protect the underserved market segments. 

Starting a Cyber Security Business: Business Models and Revenue Streams

There are multiple ways to approach the market in the cybersecurity industry. If you’re thinking about starting a cyber security company, it’s a good idea to have an understanding of these business models to identify the strongest option for you. Let’s take a look:

Managed Service

For corporate cybersecurity, businesses often offer a form of outsourced IT support, allowing companies to hand over the responsibility of their tech support to a third party (you). If you go down this route, you’ll be making your money by serving multiple clients with a team behind you, whose resources are split across your clients as needed. 

Installation

Whether or not you develop your own tools (see below) you’ll be able to find work installing security systems relatively easily. This approach is very involved and will cater to engineers as much as testers. It’s also going to be a lot harder to manage as a single person, though small teams are more than enough in many cases. Alternatively, clients may hire you to augment their in-house teams to get their new systems installed. 

Installing and testing new security systems for clients will bring in a range of revenue depending on whether you specialize in certain systems or have a more generalized approach, and how large and detailed the systems are. 

Penetration Testing

This is a more specific approach to security and involves actively testing security systems that are already in place. Again, this will be a company that serves multiple clients and simply tries to hack into their system to identify vulnerabilities. 

This is a popular approach and can be set up at almost any scale. There’s a range in the amount you can make doing this based both on your level of expertise (the range of systems you’re capable of testing) and the scale at which you want to operate.

Larger-scale operations are at greater risk of what’s called “scope creep”, where the agreed-upon boundaries set by the client company are breached in the running of the tests, in which case there’s a danger of legal consequences, especially if key data was exposed. 

Auditing/Monitoring

This is a very different avenue than the above for a cyber security business to take Systems auditing involves making sure your clients are compliant and their security measures match or exceed the industry standard. 

This approach uses a set of compliance protocols and checklists, which the client company will be tested against. In some ways, it’s similar to the penetration testing above, only that the scope is determined by the industry standard, rather than the client. The checklists will cover various security elements such as physical and technical safeguards, employee awareness, and other standards set by the industry. 

Ongoing monitoring of security systems also falls under this category, as it follows a similar principle of maintaining an agreed-upon standard over time. 

Revenue in this business model can come from multiple clients or potentially government agencies or industry leaders themselves. 

Outsourced Chief Technology Officer

Again, a very different approach, in which your company would act as the CTO for a client company. This is more of a managerial role that can be occupied by a single person or a smaller team, and would likely involve dealing with negotiations and consultancy around the purchase of software and fulfilling the leadership role for the company as they relate to the stakeholders with technological issues. 

However, much of the leadership is not available to outsourced CTOs as they relate to the client company, which can make this a tricky position to fill. It’s possible for a sole proprietor to take on this approach, or for a cybersecurity company to provide qualified people to different clients. This again will provide varying revenue based on scale and experience. 

For a more third-party approach to cybersecurity, it’s possible to become a vendor of tools and products that other cyber security businesses will want to use. Sometimes these companies will have other revenue streams too, perhaps in the form of any of the aforementioned business models, but as a developer of tools and services for other companies, you could have a range of clients across any industry.

The revenue streams here will depend on your specialty, your market, and the quality of your tools. 

How to Start a Cyber Security Company: Startup Costs

The first thing to mention is that this is a highly-skilled venture, and without the appropriate education and certifications, you’ll be unlikely to be able to compete. The good news is that there are some very affordable credentials you can get if you’ve already got the foundational education behind you. 

Further good news is that it may not cost very much at all to get started once you’ve got these documents. To cover the certifications, check out the National Initiative for Cybersecurity Careers and Studies . 

So, for a single person starting a cyber security company , certifications could cost you the first $5000, and from there you’ll need:

• A computer system - $2000 to $5000
• Relevant tools (software) - $3000 - $5000
• Website - $1000 to $3000
• Startup Costs - $100 to $200
• Business Licenses and Insurance - $200 to $600
• Marketing Media - $100 to $300

Adding it all up, you’re looking at something between $11400 and $19100 with the certification included. 

So, the figures aren’t astronomical for a small-scale startup. And you can make that money back fairly quickly if you find clients. 

If you’re installing security systems, you could make revenue of between $1000 and $10,0000 per job. Your margins generally will be higher with a smaller team, but you’ll be able to handle fewer clients, so typically profit will improve with scale. 

Based on jobs of $2000 each, you could be serving three clients a month and bring in $72,000 in revenue. If you’re a one-person team, almost all of that will be profit, and this is a conservative estimate: you should be able to handle a lot more work than that. 

If you’re scaling up, you’ll need a headquarters and to cover the costs of your staff, but you’ll be able to take on far more clients. If you’re able to get referrals from your good work, you could see ten new clients per month, and without increasing your prices you’re now bringing in $240,000 in revenue. Even at 30%, that’s your $72,000 profit and you will be able to offer monitoring and auditing services to these same clients for substantially more money. 

Ongoing monitoring could bring you in another $2000 per client, per month, essentially doubling your revenue on the conservative side. 

So, if you think you’re qualified, and you like the sound of these numbers, you might be wondering how to get everything started.

How to Start a Cyber Security Company

As we mentioned, your certifications are important. A degree is all but essential, but you’ll also need to show that you’ve got some experience. There are countless certifications available to prove this, and the following examples are simply for context. Please note, these are not necessarily the best ones for your business, nor are they being endorsed over any others that are available. You’ll likely want to pick multiple certifications that suit your approach and it’s important you do your research to figure out which ones those should be. 

• Certified Ethical Hacker – For penetration testers, this is a good one. The EC-Council certification vouches for your ability to test systems for weakness. This certificate costs around $100. 
• Certified Cloud Security Professional (CCSP) – This is from the ISC 2 and it demonstrates that you can design, maintain, and secure cloud infrastructure, apps, and data. It costs around $600 and might come in handy if you’re looking to develop your own tools. 
• Certified Information Security Manager (CISM) – This certification from ISACA backs you up in your ability to manage information systems and IT security. This one costs around $760 and would be useful for managed service business models.

Once you’ve got your docs behind you, you’re going to need to have a business plan. You should have an idea of the model you’re planning to use by this time so that you can get the relevant missing qualifications, but you might not have delved any deeper than this yet. Your business plan is the time to really find out whom you’re going to be as a business and how you’re going to reach your clients. 

It begins with market research and competitor analyses. This is where you’ll identify your prospects and what they’re looking for, and also analyze what your competition is currently doing for them. From there, you’ll be able to design your approach in a way that you will be offering something that your clients can’t get anywhere else. 

You’ll then work on your pricing structures in a way that’s competitive and you’ll need to figure out your financial documents. Working with projections can be tricky when you’re not yet making any money, but it’s important to be as accurate as possible. 

Your market research should provide enough detailed information to put your financial documents together including complete financial projections. ProjectionHub has a p rofessional services template that is specifically designed for this purpose and perfect for cybersecurity firms who are doing planning. The template is entirely customizable to your needs and comes with full support so you can create professional-looking projections that will appeal to investors or lenders if you’re going down that route.

You’re also going to have to choose your legal structure. Whether you go for a sole proprietorship or limited company will depend on the kind of liability you’re comfortable with and how much work you want to put into your paperwork. There are also partnerships, corporations, and other structures to look into, each with its pros and cons that you’ll need to weigh up. 

By the time you’ve done all this, you’re almost there. Getting a business license isn’t expensive, and from there you can get a company bank account and card. You’ll need to look up the requirements for your state, since they vary, and then you’ll find out which kinds of insurance you’re legally required to have. 

For example, General Liability Insurance is commonly required to get your license in most states. 

If you’re going to use external funds, there are quite a lot of options here too. There are grants which you should check out first, special loans, investors, and specific venture capital funds that focus primarily on this industry. 

Whomever you choose, make sure your financial papers are in order first, as these might be the first thing that lenders or investors consider. 

Starting a Cyber Security Company: Final Considerations

Now it’s time to market your services and get your first clients. However, there are some loose ends you might want to tie up while doing this, so we’ll go over a few last-minute considerations for setting up and running your company in this section. 

You don’t have to do this yourself. Depending on your budget, time constraints, and skill set, you might consider outsourcing it. Regardless, you’ll have designed your marketing strategy from your marketing research as part of your business plan, so now’s the time to enact it. 

Hiring experts can be great value for money if you can afford it, but however you go about it, make sure your website, your social media, and your entire online presence is active, consistent in their messaging, and streamlined to ensure clients can contact you if they need to. Use SEO principles to show up in searches locally, and lean into your network if you have one. 

Make sure you don’t go into agreements without legal backing. Drafting your contracts well is important for your own protection and the future success of your business. Cybersecurity often deals with some very sensitive information so you need to ensure you don’t get hindered by legal troubles from a lack of forethought in your contract designs.

Another key consideration to running your business is the hiring process (if you’re bringing people on board). Again, you’ll be vouching for people you don’t know here, who will be given access to the inner workings of companies and their clients. This means you need to vet people well and consider paying extra for someone who is well-established. 

This could be considered a risk mitigation strategy that will ensure you don’t fall into any pits as you’re starting up. Remember also that reputation and trust are critically important at the early stages of your company, so pick people you are proud of.

Now might be a great time to figure out how to start a cyber security company, if you’re already qualified. And if you’re not, the industry looks to be on an upward trajectory for long enough that you have time to get into it. 

There are multiple approaches you can use, all of which come with their own demands and benefits. Once you know which suits you, it’s just a matter of getting a solid business plan done, getting your financial documents in order, and securing the funding. Then, get out there and find clients! 

About the Author

Adam is the Co-founder of ProjectionHub which helps entrepreneurs create financial projections for potential investors, lenders and internal business planning. Since 2012, over 50,000 entrepreneurs from around the world have used ProjectionHub to help create financial projections.

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9 cybersecurity tips to protect your business

An easy-to-implement plan for small business owners and employees to protect against cyberattacks.

When launching my business, I certainly didn't pay much attention to security. It wasn't because I didn't care about it—I just wasn't aware of how common and devastating cyberattacks could be. But now that I'm part of the small business community, I see it happening everywhere. It's not uncommon for me to see comments on Facebook groups from people who've recently started a blog for their business saying they got hacked. 

Cyberattacks cost your business time and money, and if sensitive information about your customers gets out, it could also ruin your reputation.

One of the simplest ways to avoid cyberattacks is to make sure each individual at the business is taking steps to help—especially if the majority of employees are working remotely . 

The tips here are mostly to protect your computer and software. If your business runs on WordPress, here are some free WordPress security plugins to help protect your website.

Common types of cyberattacks

Before I show you what I do to secure my infrastructure, I want to quickly go over some of the most common attacks small businesses face.

Phishing . These are emails pretending to be from your bank, internet service provider, or other places that aren't who they say they are. They typically want you to click a link so they can gather some type of personal information from you.

RAT. A Remote Access Trojan allows attackers to access your computer's camera and microphone, and install other types of malware. 

Keylogger. This one records everything you type on your keyboard (terrifying enough for you?), and it's often used to steal passwords and credit card details.

Shoulder surfing. This is when attackers gather personal or private information by simply looking at your screen.

Malware attack. Malware is any kind of malicious software meant to harm or exploit a device, service, or network. It's an umbrella term, and it includes things like viruses, Trojans, worms, ransomware, and more.

Man-in-the-Middle attack. A MitM attack intercepts the communication between you and the server. For example, if you wanted to log in to your bank account, the attacker would receive your login information and then send it to the bank, the bank would then send the response to the attacker, and the attacker would send it back to you. This is very common when connecting to public Wi-Fi.

What each team member can do to secure small business infrastructure

Each business will need different security measures , but there are a few things employees can do on their own to help. Send this list to the rest of your team, add it to your standard operating procedures , and make sure that everyone on the team is following these best practices.

1. Don't leave your computer unattended

One of the coffee shops I frequent the most to do my work doesn't have a restroom inside. So in order to answer nature's call, I have to leave the coffee shop, walk over to the building next to it, and go up to the third floor.

This means that anyone wanting to take a peek at my computer, install malware, or simply steal it, would have plenty of time to do it. To prevent any of these things from happening, I just put my laptop inside a sleeve and take it with me. 

Since it's a small coffee shop, it's pretty easy to lose my spot, so I typically leave my backpack on top of my chair and my headphones on the table. Obviously, I don't keep anything of value inside the backpack (it's often empty) in case someone decides to take it.

I know that not leaving your belongings unattended might sound obvious, but I see it happening almost every time I go to the coffee shop. Even if it's just for a minute or two, that's enough time for someone to download malware or steal your laptop. Just take your stuff with you—it's not worth the risk.

2. Use a VPN when connecting to public Wi-Fi

A few years ago, I used to travel a lot for work, which meant I had to connect to many unsecured Wi-Fi networks in airports and hotels. The issue with these types of networks is that hackers can position themselves between you and the connection point—Man-in-the-Middle attacks.

So instead of your data going directly to the hotspot, it goes to the hacker, who then sends it to the hotspot. This gives them access to anything you send over the internet, which could be emails, bank statements, credit card information, your website's login information, the list goes on. Basically, they can access your systems as if they were you.

Other common things hackers do with these types of unsecured connections are distributing malware and creating fake connecting points to connect to.

To protect myself from these attacks when connecting to public Wi-Fi, I use a virtual private network (VPN) called CyberGhost. One of the things a VPN does is encrypt your data traffic, so that even if an attacker gets their hands on it, they won't be able to decipher it because it'll show as a bunch of gibberish to them. Since hackers typically go for easy targets, once they see that you have a VPN set up, they'll simply skip you and go on to the next victim who isn't protecting their data. 

3. Use a privacy screen

One thing I saw a lot when traveling was people opening up their laptops in the airplane rows in front of me and working on what was obviously sensitive information. If I'd been interested in learning more about their jobs or stealing their information, I could have easily done it.

If I could see other people's screens, that meant they could see mine. So to prevent people from shoulder surfing me, I use a privacy screen. It's essentially a piece of plastic you put on your laptop screen that allows only someone directly in front of the computer to see what's going on. Anyone looking from the sides will see a completely black screen.

There are plenty of privacy screen brands you can get online, but the brands I've liked the most are SightPro and Akamai. I've tried super cheap ones as well, but they always ended up deteriorating fairly quickly. I guess it's true what they say: "Buy nice or buy twice."

4. Don't click on unknown links

I'm also very wary of clicking on links in emails. A lot of people think that as long as they don't download anything, they'll be safe. But even clicking a bad link can cause your computer to get infected. And while sometimes they're easy to spot, spammers are getting pretty good at disguising their links to make you think they're legitimate.

Here's an example of an email I received pretending to be from Norton AntiVirus, but it was actually redirecting me to a different website:

Sure, it's not the best ripoff of Norton branding, but if I were doing a quick email cleanup, I might not notice. So, before clicking a link, no matter who it's from, I always hover over it to see where it actually goes. The real website is typically shown at the bottom-left corner of the browser screen, as you can see in the image above.

I also get the occasional spam comment with weird links on my website. Clicking any one of those unknown links could deploy various types of malware, such as RAT, keylogger, and botnets. If you're bombarded with spam comments, you can block them using a plugin like Akismet. Another option (and the one I use) is to copy this list of common strings used by spammers to automatically send those comments to the trash.

Simply copy all the strings on that list, and then go to your WordPress dashboard > Settings > Discussion > Disallowed Comments Keys > paste the strings > Save Changes.

5. Keep everything up-to-date

Apps seem to require updates all the time, which can seem annoying. But those updates contain important fixes to known vulnerabilities that hackers can exploit to install malware, steal your data, or do any other type of harm to your system.

You can automate the process of keeping things up-to-date. Here's how to enable automatic updates on the two most popular operating systems:

How to enable automatic updates on macOS

Open the App Store > Click App Store on the top menu > Preferences > tick the Automatic Updates box.

How to enable automatic updates on Windows

Open the Microsoft Store > click the three dots on the upper-right corner > Settings > App updates > turn on Update apps automatically.

While you're at it, it's worth doing the same on your phone.

6. Use full-disk encryption

As a small business owner, I have lots of private information on my computer, including banking information, business plans, account numbers, taxes, client data, and more. Having someone access some of this information, especially my clients' data, could seriously damage my business and reputation—not to mention the harm it would do to the client.

If your business stores things like personal health information (PHI) from your clients, and this information gets revealed, you could face huge fines and even jail time for allowing the breach. The HIPAA and FINRA regulations are justifiably strict.

Without full-disk encryption, if someone steals your laptop, they can access the data on your drive, even if you have a password protecting your login: they can simply remove the drive and install it on another computer. With full-disk encryption, they won't be able to see anything that's inside the drive since it'll all be encrypted.

Both macOS and Windows come with free full-disk encryption, which should be enabled by default. However, if yours isn't enabled, you can follow these steps.

How to enable full-disk encryption on macOS

If you're using macOS, then FileVault is the program you want to activate. To do this, click the Apple logo on the top-left corner > System Preferences… > Security & Privacy.

Then, click the FileVault tab > Click on the lock icon at the bottom-left of the window > enter your password > Click Turn On FileVault.

How to enable full-disk encryption on Windows

If you're using Windows, click on the Start button > Settings > Update & Security > Device encryption > click on Turn on.

7. Create regular backups

Creating regular backups is a good way of preventing ransomware, a type of malware that holds your data hostage by encrypting it and demands a payment to release the data back to you. If you make regular backups of your data, you can simply wipe your computer, reset it to factory settings, and restore your data from the backup. 

I like keeping my backups in an external hard drive instead of the cloud . While it's not as convenient as simply connecting to the cloud and uploading your files, it keeps everything in a secure off-site location.

I typically create backups every month, but if you're constantly creating important information, you can do them weekly or daily. My favorite brand for external hard drives is Western Digital (WD), but Samsung also makes good options.

How to create backups on macOS

To create backups, I like using macOS' built-in backup tool called Time Machine. The cool thing about it is that, once I plug in my hard drive, it works automatically in the background. It continuously saves copies of all my files, apps, and any other important information and excludes useless files in the trash, cache files, and logs.

To use Time Machine, plug in your external drive > go to System Preferences > Time Machine > toggle the switch to On > Select Disk… > select the drive you want to use.

In order to use the drive, it needs to be formatted as macOS Extended (journaled). If yours isn't, Time Machine will ask if you want to reformat it, which will erase all the existing files on it. 

How to create backups on Windows 

Windows' built-in backup tool is called File History. To start backing up data on Windows, connect your external drive > click Start > Settings > Update & Security > Backup > Add a drive > select the external drive where you want to store the backups.

8. Use strong passwords

Growing up, I used to use the same password for everything. To be honest, I still use it, but only for accounts that don't really matter—like the email account I use to sign up for random newsletters to get coupons and discounts from stores.

When it comes to things like my website, laptop, bank accounts, email, and other products that require me to add more personal information, I go ahead and create longer and more difficult passwords that include mixed characters like numbers and symbols.

But now I've reached a point where I have too many accounts, so keeping track of all of the passwords is a nightmare. To create and store complex passwords, I use the free version of a password management tool called LastPass (you can compare it to the other popular option, 1Password, using Zapier's password manager showdown ). It has an autofill option that automatically fills usernames and passwords when visiting websites, so you don't have to copy/paste them.

Besides keeping everything secure on LastPass, I also like keeping a hard copy of my passwords in a safe place at home, just in case something happens to LastPass or I don't have access to it. If you do write your passwords on a sheet of paper, make sure that you place them in a secure place—i.e., not behind your computer monitor or under the desk.

If you don't want to install the LastPass extension but want to create strong passwords , you can just use the free password generator tool on their website.

9. Use two-factor authentication (2FA)

Two-factor authentication (2FA) means you need to verify your identity in two unique ways before you can access a website or app.

For example, if you enable 2FA for your email account, once you enter your username and password, you'll be asked to enter a unique one-time access code sent to your phone via text or an authenticator app like Microsoft Authenticator, which is the one I use.

So, even if someone knows your email and password, they won't be able to access the system without your phone.

If I'm completely honest, I dislike using two-factor authentication. My issue with it is that I have so many accounts it becomes a little annoying having to go to my phone and verify my identity every time I want to log in. 

Still, I'd rather be safe than sorry, so I enable it for important accounts, such as my bank accounts, emails, and websites. If you have online accounts with important information that support two-factor authentication, I recommend enabling it.

If everyone on your team follows these relatively simple steps, it'll add a massive layer of protection against cybercriminals. After all, cyberattackers (usually) want easy targets, so simply by not being one, you're decreasing your risk.

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Christian Coulson

Christian is an industrial engineer with a background in programming who's used his knowledge and experience to grow 7Sigma Physiques—his fitness coaching business and blog with thousands of monthly readers. He now teaches other entrepreneurs how to scale their business at blogstalgia.com.

• Small business

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Cyber Guidance for Small Businesses

A different kind of cybersecurity advice.

Cyber incidents have surged among small businesses that often do not have the resources to defend against devastating attacks like ransomware. As a small business owner, you have likely come across security advice that is out of date or that does not help prevent the most common compromises. For example, odds are that you have heard advice to never shop online using a coffee shop’s wi-fi connection. While there was some truth to this fear a decade ago, that’s not how people and organizations are compromised today. The security landscape has changed, and our advice needs to evolve with it.

This advice is different.

Below, we offer an action plan informed by the way cyber-attacks actually happen. We break the tasks down by role, starting with the CEO. We then detail tasks for a Security Program Manager, and the Information Technology (IT) team. While following this advice is not a guarantee you will never have a security incident, it does lay the groundwork for building an effective security program.

Role of the CEO

Cybersecurity is about culture as much as it is about technology. Most organizations fall into the trap of thinking the IT team alone is responsible for security. As a result, they make common mistakes that increase the odds of a compromise. Culture cannot be delegated. CEOs play a critical role by performing the following tasks:

• Establish a culture of security.  Make it a point to talk about cybersecurity to direct reports and to the entire organization. If you have regular email communications to staff, include updates on security program initiatives. When you set quarterly goals with your leadership team, include meaningful security objectives that are aligned with business goals. Security must be an “every day” activity, not an occasional one. For example, set goals to improve security of your data and accounts through the adoption of multi-factor authentication (MFA) (more on that below), the number of systems you have fully patched, and the number of systems that you backup.
• Select and support a “Security Program Manager.”  This person doesn’t need to be a security expert or even an IT professional. The Security Program Manager ensures your organization implements all the key elements of a strong cybersecurity program. The manager should report on progress and roadblocks to you and other senior executives at least monthly, or more often in the beginning.
• Review and approve the Incident Response Plan (IRP).  The Security Program Manager will create a written IRP for the leadership team to review. The IRP is your action plan before, during, and after a security incident. Give it the attention it deserves in “peace time,” and involve leaders from across the organization, not just the security and IT functions. There will be no time to digest and refine it during an incident. PRO TIP: Invoke the IRP even when you suspect a false alarm. “Near misses” drive continuous improvements in the aviation industry, and the same can be true for your security program. Never let a near miss go to waste!
• Participate in  tabletop exercise drills  (TTXs).  The Security Program Manager will host regular attack simulation exercises called tabletop exercises. These exercises will help you and your team build reflexes that you’ll need during an incident. Make sure your senior leaders attend and participate.
• Support the IT leaders.  There are places where the support of the CEO is critical, especially where the security program needs the help of every staff member. Take ownership of certain efforts instead of asking IT to do so. For example, do not rely on the IT team to persuade busy staff that they must enable a second way to sign-in to their email by enabling MFA. Instead, make the MFA announcement to the staff yourself and keep track of the progress. Personally follow up with people who have not enabled MFA. Doing so creates a culture of security from the top.

A note on MFA:  Multi-factor authentication  (MFA) is a layered approach to securing your online accounts and the data they contain. It’s the idea that you need more than a password to keep your data and accounts safe. When you enable MFA for your online services (like email), you provide a combination of two or more authenticators to verify your identity before the service grants you access. Common forms of MFA are SMS text messages sent to your phone, 6-digit codes generated on a smartphone application, push notifications sent to your phone, and physical security keys.

Using MFA protects your account more than just using a username and password. Users who enable MFA are MUCH less likely to get hacked. Why? Because even if one factor (like your password) becomes compromised, unauthorized users will be unable to meet the second authentication requirement ultimately stopping them from gaining access to your accounts.

Role of the Security Program Manager

The Security Program Manager will need to drive the elements of the security program, inform the CEO of progress and roadblocks, and make recommendations. These are the Security Program Manager’s most important tasks:

• Training.  All staff must be formally trained to understand the organization’s commitment to security, what tasks they need to perform (like enabling MFA, updating their software and avoiding clicking on suspicious links that could be phishing attacks), and how to escalate suspicious activity.
• Write and maintain the  Incident Response Plan  (IRP).  The IRP will spell out what the organization needs to do before, during, and after an actual or potential security incident. It will include roles and responsibilities for all major activities, and an address book for use should the network be down during an incident. Get the CEO and other leaders to formally approve it. Review it quarterly, and after every security incident or “near miss”. Need to know where to start? Look to our  I ncident Response Plan Basics  two-pager with advice on what to do before, during and after an incident. To request assistance or to share information about an incident that can help protect other potential victims, you can contact CISA at  https://www.cisa.gov/report .
• Host quarterly tabletop exercises (TTXs).  A TTX is a role-playing game where the organizer (possibly you!) presents a series of scenarios to the team to see how they would respond. A common scenario involves one employee discovering their laptop is blocked by ransomware. Symphonies and sports teams practice regularly, and your organization should, too. CISA has  Cybersecurity Tabletop Exercise Tips  to get you started.
• Ensure MFA compliance.  Yep--MFA Again! The most important step an organization can make is to ensure that all staff use MFA to log into key systems, especially email. While this task is also listed under the IT section below, it is critical that multiple people review the MFA status on a regular basis.

In addition to the advice here, we urge you to look at the information and toolkits available from our  Cyber Essentials  series to continue to mature your program.

Role for the IT Lead

The top tasks for the IT lead and staff include the following:

• Ensure MFA is mandated using technical controls, not faith.  Some organizations have instructed their users to enroll in MFA, but not all users complete that task. There are often MFA gaps for recently onboarded staff and for people who have migrated to a new phone. You’ll need to regularly look for non-compliant accounts and remediate. Verify, verify, verify MFA stats.
• Enable MFA for all system administrator accounts.  System administrators are valuable targets for attackers. You might assume that they would reflexively enroll in MFA. Yet Microsoft reports that only 30% of Azure Active Directory global administrators use MFA. In many compromises, attackers were able to get a foothold on the system administrator’s account, and from there they had complete access to all the company’s assets.
• Patch . Many attacks succeed because the victims were running vulnerable software when a newer, safer, version was available. Keeping your systems patched is one of the most cost-effective practices to improve your security posture. Be sure to monitor CISA’s  Known Exploited Vulnerabilities (KEV) Catalog ,  a list of the vulnerabilities we see attackers using in real attacks. Prioritize the vulnerabilities in the KEV. Also, where possible enable auto update mechanisms.
• Perform and test backups.  Many organizations who have fallen victim to ransomware either had no backups or had incomplete/damaged backups. It’s not enough to schedule all important systems to have a regular backup. It’s critical to regularly test partial and full restores. You’ll have to pick a cadence for the backups (continuous, hourly, weekly, etc.). You’ll also want to write a plan for the restoration. Some organizations experiencing ransomware attacks found that the time to restore their data was significantly longer than expected, impacting their business.
• Remove administrator privileges from user laptops.  A common attack vector is to trick users into running malicious software. The attacker’s job is made easy when users have administrator privileges. A user who lacks administrator privileges cannot install software, and this type of attack won’t work.
• Enable disk encryption for laptops.  Modern smartphones encrypt their local storage, as do Chromebooks. Windows and Mac laptops, however, must be configured to encrypt their drives. Given how many laptops are lost or stolen each year, it’s important to ensure that your laptop fleet is protected.

There are, of course, many other IT tasks that add to a good security program. While this list is not exhaustive it does contain the top actions you can take that addresses the most common attacks. 

Achieving the Highest Security Posture

When security experts give cybersecurity advice, they usually assume you are only willing to make small changes to your IT infrastructure. But what would you do if you could reshape your IT infrastructure? Some organizations have made more aggressive changes to their IT systems in order to reduce their “attack surface.” In some cases, they have been able to all but eliminate (YES, WE SAID ELIMINATE!) the possibility of falling victim to phishing attacks. Sound interesting? Keep reading!

On premises vs cloud

One major improvement you can make is to eliminate all services that are hosted in your offices. We call these services “on premises” or “on-prem” services. Examples of on-prem services are mail and file storage in your office space. These systems require a great deal of skill to secure. They also require time to patch, to monitor, and to respond to potential security events. Few small businesses have the time and expertise to keep them secure.

While it’s not possible to categorically state that “the cloud is more secure,” we have seen repeatedly that organizations of all sizes cannot continuously handle the security and time commitments of running on-prem mail and file storage services. The solution is to migrate those services to secure cloud versions, such as Google Workspace or Microsoft 365 for enterprise email. These services are built and maintained using world-class engineering and security talent at an attractive price point. We urge all businesses with on-prem systems to migrate to secure cloud-based alternatives as soon as possible.

Secure endpoints

While all operating system vendors work to continuously improve the security of their products, two stand out as being “secure by design,” specifically, Chromebooks and iOS devices like iPads.

Some organizations have migrated some or all their staff to use Chromebooks and iPads. As a result, they have removed a great deal of “attack surface,” which in turn makes it much harder for attackers to get a foothold. Even if an attacker were able to find a foothold on those systems as part of a ransomware attack, the data primarily lives in a secure cloud service, reducing the severity of the attack.

FIDO: The MFA gold standard

Any form of MFA is better than no MFA. Any form of MFA (like SMS text messages, or authenticator codes) will raise the cost of attack and will reduce your risk. Having said that, the only widely available phishing resistant authentication is called “FIDO authentication.” When an attacker eventually tricks you into trying to log into their fake site to compromise your account, the FIDO protocol will block the attempt. FIDO is built into the browsers and smartphones you already use. We urge you to learn   how   FIDO resists phishing attacks .

The combination of a cloud-hosted email service, secure-by-default devices, and FIDO authentication will dramatically raise the cost for attackers and will dramatically reduce your risk. It’s worth considering.

Additional Resources

In addition to those highlighted above, here are some additional resources available, at no cost, to help improve your cybersecurity.

Stopransomware.gov

As part of the whole-of-government approach to combating ransomware, CISA created  StopRansomware.gov , a one-stop-shop of free resources for organizations of any size to protect themselves from becoming a victim of ransomware. If you have experienced a ransomware attack, we strongly recommend using the following  checklist   from our  Ransomware Guide . 

Regional Support

Reach out to our  Regional Team  in your local area for tailored assistance.  Aligned to specific areas, the regions provide a range of cyber and physical services to support the security and resilience of critical infrastructure owners and operators and state, local, tribal, and territorial partners.

Free Cybersecurity Tools and Resources

CISA offers a list of  free cybersecurity tools and services  that serves as a living repository of cybersecurity services provided by CISA, widely used open-source tools, and free tools and services offered by private and public sector organizations across the cybersecurity community. 

Cybersecurity Evaluation Tool (CSET)

The  Cybersecurity Evaluation Tool  (CSET) is an open-source self-assessment tool designed for stakeholders to install on their endpoint device.  For those interested in using the tool or participating in CISA's open-source community, visit  https://github.com/cisagov/cset . To download the file, click  https://cset-download.inl.gov/ .

Risk Management Considerations

For businesses and organizations considering using a Managed Service Provider (MSP) for your security services, review CISA’s  guidance  on important risk management considerations.

Cloud Security

For businesses and organizations, considering using a Cloud Service Provider (CSP), review CISA’s  guidance  on cloud security.

Creating a comprehensive cyber security plan template for small businesses: A step-by-step guide for protecting your business from cyber attacks

A cyber attack is disastrous for businesses. This is even more true for small businesses without the proper security strategies in place. 

Luckily, you can protect your business from unwanted threats with a cyber security plan template for small business success. 

Keep reading to learn about the importance of strong cyber security practices and find out how you can create your own plan. 

What is a cyber security plan template for small business?

A cyber security plan template for small business outlines everything you need to protect your business from cyber security threats. 

Our research indicates that any effective cyber security plan includes both preventative and reactionary measures for cyber-attacks and breaches.

What is the purpose of the cyber security plan template for small business?

There are many reasons behind a cyber security plan template for small businesses. As per our expertise, preparing against security threats is crucial to reduce risk as your company grows. 

In general, a cyber security plan takes three factors into account.

• Technologies: Downloading protection software for your devices.
• Processes: Educating your team and enforcing security policies.
• Access controls: Segmenting your business information, and giving access to only those who need it.

Focusing on these three factors, a cyber security template clarifies the different kinds of security risks you need in order to protect your company.

Why you need a cyber security plan

Every day, your team relies on business data to keep operations moving. This includes:

• Customer information.
• Financial data.
• Sales history.

If you lose this data to a cyber security breach, you risk losing your business.  

Unfortunately, no business is immune to cyber security threats! Our findings show that even organizations at the forefront of their industry have fallen victim to this.

But it’s a lesser known fact that small and medium businesses are the prime targets for cyber attacks.

“43% of cyber attacks target small businesses.” – Cybint , 2022.

A cyber security strategy is your first line of defense against these attacks. A complete security plan prevents cyber attacks, and provides quick solutions when required. 

Based on our firsthand experience, the more secure your organization, the more trust customers have in your product or service. And more trust leads to more sales .

For example, companies with log-in websites often implement two-factor authentication for their users. This adds an additional level of security, as it requires more than just a password for access to your system. 

Without proper security procedures, both your physical computers and online accounts are at risk of security breaches. And through our practical knowledge, if you don’t take advantage of antivirus resources, for example, entire operating systems can crash on you.

Usually, companies that thrive in cybersecurity have systems in place that prevent and solve security issues. And drawing from our experience, you can achieve both with an incident response plan.

Planning for the worst saves you time and stress. More importantly, it clarifies exactly what actions you need to take in the event of an emergency. 

The more concise your plan, the better your business will be at handling cybersecurity responsibilities.

Local network security devices like firewalls are key in filtering the connection between your private network and the public Internet.

Encryption of sensitive files on your computer, or within applications, is another key factor to consider. Any file or program that contains customer data is important to protect. 

Let’s take a look at the cyber threats that can affect your business below.

Common cyber threats for small businesses

Of course, one of the requirements for creating a cyber security plan template for small business protection is to understand your business’ risk. 

To identify your possible vulnerabilities, you need to know what threats are out there. Our research indicates that these are the most common cyber security threats for small businesses. 

Malware attacks

Malware is the biggest cyber threat for small businesses today. 

The term itself is broad and refers to all categories of malicious software meant to harm devices or networks. 

Three common types of malware attacks include:

• Ransomware. 

Let’s dive deeper into each one.

In short, a virus is a piece of computer code meant to harm your technological equipment. Computer viruses affect your devices in many ways, including:

• Corrupting or deleting files.
• Damaging computer programs.
• Slowing down device performance. 
• Causing excessive pop-up windows.

In your cyber security plan template for small business, there are several benefits to highlighting the signs when a device has become infected with a virus.

What’s more is that there are several ways that your devices can catch a virus, such as:

• File sharing.
• Downloading harmful software.
• Infected emails. 

Viruses used to be the only cyber threat that businesses worried about, but cyber security has evolved and now includes other attack strategies.

Ransomware attacks

Ransomware is malware where hackers access your data and hold it for ransom by encrypting it. You then pay them to decrypt your data and regain access. 

So, if your business experiences a ransomware attack, your products or services provided will likely come to a screeching halt.

A surprising statistic:

“Ransomware is the third most popular type of malware used in data breaches.” – Verizon , 2020.

Our findings show that this will do more than just affect your numbers. Depending on the information that the hacker gathers, a ransomware attack can be tragic for your small business. It could cost you everything to pay off the hacker. 

Unfortunately, even if you comply with the hacker, there’s a chance that they won’t keep up their end of the deal. They may ask for additional payments, or cut communications once they have what they want.

Spyware is a type of malware that collects information from your device without your knowledge. Based on our observations, it’s difficult to detect, and many people never know that they’ve been subject to a spyware attack!

With spyware, cyber criminals can not only oversee your business operations. Data privacy and data security become a pipe dream as well.

Since it’s invisible, once spyware has been downloaded to a device, there is little you can do to restore your network security.

One of the most common ways spyware hackers install spyware is through phishing emails. 

Phishing scams

Unlike the other attacks on this list, phishing isn’t software. Phishing is a technique used to gather sensitive information through deception. 

The act of convincing someone to disclose information to a hacker is called social engineering. 

The most common case of phishing involves sending emails with links that lead to a website infected with malware. These scams can affect consumers and businesses alike.

A common social engineering strategy is to trick recipients to reply to emails with personal information by pretending to be a credible source, such as a colleague. 

Our findings show that cyber criminals often claim to have management roles in the businesses they target. A similar strategy involves impersonating a company that has a strong reputation.

As per our expertise, it’s important to include strategies to prevent phishing attacks in your cyber security plan template, most of which surrounds employee education (more on this later).  

The state of your cybersecurity hinges on making a plan. Let’s jump into how to create a cyber security plan for small business.

How to create your business cyber security plan

Creating a security plan requires you to look at your current business processes to figure out your vulnerabilities. 

From there, you can put together a plan to eliminate those vulnerabilities and reduce your risk. 

You might think as a relatively unknown “small biz” that you’re safe against cyberattacks. In reality, it’s small business cybersecurity that cybercriminals target most. This is because a small organization tends to have much weaker cyber security than a larger enterprise.

It’s a good idea to use a cyber security plan template for small business through this process. Through our practical knowledge, templates for your business’ cybersecurity plan are useful tools as they eliminate internal confusion over protocols and best practices.

To guide you, here are 5 key steps to creating your plan. 

1. Identify your biggest threats

Of course, drawing from our experience, protecting your company from cyber threats requires more than just filling out a planner. 

Creating a cyber security plan is similar to setting your sales goals . For example, both involve taking every aspect of your business into account.

You can’t create a line of defense if you don’t know what you need defending from. 

This is why the first step in creating a cyber security plan for small business is to understand your business risk.

The most common threats for small businesses include:

• Ransomware.
• Weak passwords. 

Our research indicates that identifying your risks helps you find ways to prevent these risks from happening. This includes solutions, such as:

• Antivirus software.
• Newer devices with updated security features (i.e., fingerprint scanning).
• Password parameters. 

If you have an IT team, this is a job for them. If not, consult an IT professional to identify your exposure and create a plan.

2. Prioritize your assets

Cyber security asset assessment involves identifying your IT assets and potential security risks. Your assets include traditional devices as well as digital assets. 

Here are some examples of common business assets to consider:

• PCs and mobile devices.
• Networks and servers.
• Cloud-based data.

In reality, any part of your IT infrastructure is at risk of cyber security threats, so be sure to create a comprehensive list.

From there, decide which assets are the most important. That way you can determine the most vulnerable ones to begin creating your security plan. 

3. Set your goals

The goal of your security plan is to protect your small business. However, several smaller goals play into this larger objective.

In a perfect world, creating a plan to prevent cyber attacks, and including a network security device like a firewall, would be enough. However, solely relying on prevention is unrealistic. 

As much as you try to prevent cyber security attacks, there’s always a risk of cyber attackers getting through your defense. So, as per our expertise, your goals should also include optimal readiness to respond to threats. 

If you’ve already made the plans to handle unauthorized users in your system, then you’ll greatly reduce the amount of damage they can do.

Of course, malware detection is the first step once your cybersecurity is breached. So planning the ways to detect threats is as important as planning how to deal with them.

Better yet, our research indicates that you should have a goal for your recovery time to minimize your exposure and damage to your assets. 

4. Document your plan

Once you’ve determined your current cyber security risks and created a business plan to improve your response readiness, it’s time to document your plan. 

Based on our firsthand experience, documenting is easy if you use a cyber security plan template for small business, as you just have to fill in the sections in the template.

There are several reasons why documenting cybersecurity plans is important. 

For starters, you don’t want anything to slip through cracks when it comes to a cyber security plan for small business. It only takes one small slip-up for a hacker to access your information. 

Thoroughly documenting your plan minimizes the risk of overlooking an aspect of your business, and removes the possibility for any intrusion into it.

Sometimes, you’ll have conversations with your customers that are difficult . But nothing’s harder than explaining that your cyber security has been compromised. A well-documented plan softens the blow and reduces a breach’s impact.

What’s more, employee training plays a huge part in your cyber security strategy. So, document your plan in a way that’s easy to understand. 

5. Do a test run

Once you have the proper cyber security infrastructure in place that your employees are trained on, test your plan.

Don’t forget to test your employees’ ability to recognize threats by sending test phishing emails. You can also simulate a ransomware attack through encryption of your own files.

It’s important to note that cyber security is always evolving. Once you confirm that your new plan works, set up a schedule to conduct regular tests to ensure up to date strategies.

Now that you know how to create your plan, let’s explore what to include in your template. 

What to include in your cyber security plan template for small business

Making a cyber security strategy is no small task. There are two points to remember about your plan:

• It’s a document your team regularly references.
• The security of your business depends on it.

Organizations that acknowledge these points always have the most robust security strategy, making them the most cyber secure. To address these two factors, you want to ensure that you include as much detail in your plan as possible. 

Using a cyber security plan template for small business simplifies the process and ensures that your plan captures every aspect of your business. 

Since this plan will be included in the core employee resources of your organization, a template ensures that you’ve covered all your bases in a way that’s still easy to follow.

Here’s what to include in your template. 

Your objectives

To kick things off, your cyber security plan for small business protection should open with your goals. 

Your goals guide your plan, so clearly stating them at the start gives context to your proposed strategies. 

As a result, the reader sees the bigger picture and better understands the importance of cyber security strategies.

Common threats

To fully understand your cyber security strategies, you need to outline your business’ security threats.

Make sure that your plan describes each threat to your business. This means associating each common threat with an asset. 

For example, one common threat to small business security is password hacking, and one of the assets at risk is your company’s data. Knowing this, you can strengthen your employee passwords to prevent data breach.

Identifying threats specific to your business is a crucial step in protecting your staff and your customers from cyber attacks.

Security policies

Cyber security policies serve as the framework of your plan. 

Policies outline how you expect your team to protect your business assets. Some basic security practices include:

• Limiting who accesses information. 
• Restricting internet browsing on your network. 
• Implementing a plan of action for suspicious emails. 

There are also companies that offer products or services, like antivirus software to ward off security threats.

Your security policies are mainly preventative, so you should consider how to react to security breaches. 

Breach response plan

Prevention is the best tool to protect your business, but it shouldn’t be your only tool. If your business does become the victim of a cyber attack, you should have a plan of how you’ll react.

When unauthorized users infiltrate your business systems, panic sets in. It becomes difficult to think clearly and act accordingly. 

Without an established breach response plan, you’ll lack the tools  to quickly restore your business.

A breach response process allows you to identify an attack and shut it down as soon as possible. This reduces damage to your business data and ensures that you’re back up and running in no time. 

Your breach response plan should include clear steps and a timeline of how long you have to shut down an attack before your business is at risk. 

Employee education plan

You can have the tightest cyber security policies in place, but if your employees don’t know them, your business is still exposed. 

So, it’s important to implement a system that educates your employees. A cyber security plan for small business isn’t complete without employee training.

To be successful, your employees need to be up to speed on your business’ cyber risks and security policies. Design a cyber security training program to walk your employees through these.

A complete employee education plan results in your employees:

• Creating strong passwords.
• Recognizing phishing emails.
• Resisting other social engineering techniques. 
• Knowing what to do if they accidentally disclose information.

Highlight your training plan in your cyber security plan template for small business. 

For best results, conduct a cyber security training at least once a year and test employees’ knowledge monthly. 

Wrap up: Cyber security plan template for small business success

The truth is that if you don’t have a solid cyber security plan for small business, you risk losing your business completely. 

With this in mind, it’s important to prioritize cyber security policies and implement them into your business process. The applications of this plan will guarantee longevity for your business.

The key content of a complete plan includes:

• Clear goals. 
• Potential threats.
• Security policies.
• A breach response plan.
• Employee training. 

The health of your cyber security depends on these five factors for a number of reasons. Establishing each of these now means that you can quickly shut down unauthorized user or activities within your business down the road. 

The quality of your product or service means nothing if your cyber system is unsecure.

With the support of a template, your cybersecurity plan is clear, concise, and comprehensive. It allows you to draft and organize all the content that your plan requires.

Free cyber security plan template for small businesses

Protect your business from cyber attacks by drafting a robust cyber security plan.

If you don’t see the download form, download template here .

Brush up on other technology trends for your small business in this blog !

Cyber security plan template for small business FAQs

How do i implement a cyber security plan for small business.

To implement a cyber security plan for your small business, the most important step is educating your employees. Once your plan has been created, the hard part is done. 

Make your cyber security plan customary and accessible so that your employees know about your business’ strategies in the event of a cyber threat. 

If you’re unfortunate enough to experience a cyber threat, remind your staff of your plan– then follow each step closely.

How do I choose the right cyber security products for my small business?

To choose the right cyber security products for your small business, first identify all your company’s potential cyber threats. Once those are established, there are many security products to choose from.

There is not a one-size-fits all solution to cyber security. You can choose which products suit your needs, but it’s important to note that you can never be too secure.

Many cyber security companies offer free trials, so consider experimenting with different products to find the perfect fit for your business.

Where can I find a cyber security plan template for small business?

For a comprehensive cyber security plan template for small businesses plus more, simply:

• Follow this link .
• Fill out your business’ basic information.
• Click download.

Keep your data more secure with a free trial of Method:CRM.

Image credit: cottonbro via Pexels .

About The Author

Shana Cesaire

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A Cybersecurity Plan for Small Business Owners

Table of Contents

If you thought cybersecurity was something only big businesses had to worry about, think again. Small companies are at risk of cyberattacks too, and it would be a mistake not to prepare your organization to defend against them. Fortunately, a five-step cybersecurity plan could be enough to keep your business protected.

What is a cybersecurity plan?

A cybersecurity plan is designed to repel threats from online criminals. The most effective cybersecurity defenses are investing in technology and staff training. Training staff is particularly important because 85% of data breaches are caused by employee mistakes, according to a study by Tessian.

Cybersecurity plans not only serve as methods of prevention, but they can also include what to do in the event a breach does occur. The goal, of course, is to mitigate any damage and recover as quickly as possible so your company can get back to business as usual.

According to a Cyber Readiness Institute survey , only 40% of small businesses implemented a cybersecurity policy as remote work increased with the onset of the COVID-19 pandemic.

How do you create a cybersecurity plan?

To create an effective cybersecurity plan, you first need to identify which assets need protecting and where your vulnerabilities lie so you can apply the right technological and human patches. Once put in place, companies should regularly review their cybersecurity policies to identify and defend against new threats.

From assessment to implementation, follow these steps when creating a cybersecurity plan for your business.

Step 1: Decide what’s important.

In your initial cybersecurity risk assessment , do the following:

• Determine what data is essential. Over time, businesses accumulate massive amounts of information on customers, suppliers and employees. Figure out what data you need to operate your business and eliminate the rest.
• Decide who should have access to data and why. Some data may be needed by your accounts team only. Make sure each employee can access only the data they need to perform their role successfully. 

Step 2: Identify and fix technical vulnerabilities.

Before you start to build your technical firewall, understand where your problems are now and why they arose.

• Check for malware. You may have malware and ransomware already on your network. Purge your system of them as soon as possible.
• Delete any software you no longer use. If you no longer use a piece of software to operate your business, chances are you’re not updating it with the latest security patches. Delete it to eliminate potential threats.
• Consider banning BYOD (“bring your own device”). Personal devices generally have lower levels of security than business devices. If staff currently use their own laptops to connect to your network, consider purchasing equipment for them to use instead so you can set the ideal security levels.
• Know what connects to your network. Create a list of devices with permission to connect to your network, and update the registry frequently. It’s much easier for a hacker to gain overall control of your system if any device can connect to it.
• Decide account privileges. Create a virtual barrier, known as ringfencing, around parts of your computer system depending on employee seniority and data needs. An admin is not likely to need the same access to programs and data as your CFO. So if a hacker does break in via the admin’s credentials, the areas the hacker can access would be greatly restricted by default, reducing the amount of damage they can do.

Want to know how secure your business really is? Hire a white-hat hacking firm to test how hard it is to gain unauthorized access to your company’s systems and data.

Step 3: Establish your technical defenses.

Your technical defenses should include the following solutions and strategies.

• Antivirus software: The best antivirus and internet security software stops ransomware and malware from being downloaded to your computer network via a rogue link on a website or an email attachment. 
• Strong firewalls: Firewalls monitor traffic across your computer network and block traffic that fails predetermined security tests. More advanced firewalls learn patterns of traffic over time and create additional security rules. 
• Encryption: Make sure all information transmitted on your network is encrypted. If a hacker does manage to get in, it would take billions of years to crack the Advanced Encryption Standard, the modern encryption algorithm.
• Backups: Choose an encrypted cloud backup service to protect your data, and do multiple backups each day. Having a backup means that when you regain control of your system after a breach, you can download the most recent database to your system.
• Software update cycles: Sign up for newsletters from the vendors of the software titles you use. This will help you stay up to date with updates and security patches. While many software programs update automatically, not all do, so check once a month that each program is updated.
• Software swaps: If a software package you’re using has been retired and the vendor no longer provides security patches for it, swap it for a similar package that is supported.
• Wi-Fi network security: If possible, hide your Wi-Fi network, so it can’t be discovered by others, by switching off the beacon frame. Learn more about setting up Wi-Fi for your business .
• Password management: Ideally, passwords should be managed by a central team using 256-bit encryption to allow and deny employees and contractors access to your network.
• Two-factor authentication: For additional security, two-factor authentication (2FA) requires users to receive a message on a second, recognized device to verify their identity – similar to how Google asks you to authenticate signing in to your account on a tablet by sending a message to your mobile phone.

Protection for Internet of Things (IoT) devices: Cameras, printers and other internet-connected devices are favorite attack vectors for cybercriminals. Don’t limit your protection efforts only to computers.

Step 4: Establish your human defenses.

Let your employees know why stopping hackers is vital. Impress on them how all it takes is one big attack to threaten the existence of the entire company and their jobs. Then train them on what they need to be aware of and what they should do if something suspicious happens. Use this guidance as a starting point:

• Be suspicious of every email and phone call. Train staff to be alert to phishing attempts. For example, if someone claiming to be the CEO calls up the accounts team demanding an invoice be paid immediately, require team members to perform safety checks to make sure it was actually the CEO making the demand and that the invoice is genuine.
• Don’t connect to public Wi-Fi without a VPN. Public Wi-Fi equipment using the WPA2 protocol is insecure. Make sure your staff connect to public Wi-Fi only if they are using an encrypted virtual private network (VPN) platform. For even greater security, require employees to connect via 4G or 5G if available.  
• Don’t overshare on social media. The more information a person shares on social media, the more likely it is that a hacker can guess their password. Phishing attacks also become harder for staff to detect if a cybercriminal references information they gathered from social media.
• Ask for permission before allowing remote desktop access. Some cyberattackers pretend to be from a company’s IT services team and then gain access to an employee’s computer through remote desktop access. Ask staff to check with your IT manager before allowing this type of access. [See our recommendations for the best remote PC access software .]  

Step 5: Monitor employee performance.

For a cybersecurity plan to be effective, you’ll need to regularly check that your employees are responding positively to their training and putting what they’ve learned into practice. You may want to run periodic tests to see whether team members have retained the knowledge they need to keep the business safe. Retrain those who may not have understood everything, and consider rewarding employees for spotting security threats and reporting them to their managers.

Cybersecurity attacks are constantly evolving, so you may want to offer additional training as new threats emerge.

What are the common types of cybersecurity attacks?

According to Acronis , 43% of all cybersecurity attacks are against small and midsize businesses (SMBs). Worryingly, a BullGuard study found that one-third of SMBs with 50 or fewer employees in America use inadequate, free consumer security products to protect their companies. What’s even worse is that 1 in 3 use no security at all.

Given that the threat of cybercrime is changing all the time as technology develops and businesses become more connected to and reliant on the web, it’s critical companies invest in cybersecurity protection and understand the potential for cyberattacks. The current greatest cybersecurity threats to SMBs include phishing and extortion. 

• The purpose of phishing is to get people to reveal sensitive details like account logins, credit card numbers and passwords. Most phishing attempts are carried out by email, followed by phone calls and text messages. Common phishing attempts include spoof emails purportedly from well-known retailers asking you to log back in because “your account has been frozen” and text messages from courier companies asking you to make up an alleged underpayment on a delivery.
• Identity theft is the theft of personal or company financial details to set up loans, credit cards and trade accounts in your name. They get the money or the goods, but you’re stuck with the bill.
• Distributed denial-of-service (DDoS) attacks overwhelm websites, email servers and internal computer networks by sending millions of near-simultaneous requests for access. To get back control, you normally have to pay a ransom.
• Software vulnerability exploitation occurs when hackers look for computer networks where software patches haven’t been applied, as it’s easier to gain entry when there are security holes. Networks using software no longer supported by vendors are also a major target for cybercriminals.
• The goal of malware is to damage a computer network, server or individual terminal. This happens in many different ways, including cryptocurrency mining, keystroke logging , and by creating system backdoors that allow hackers to load more software onto your system at a later date.
• With extortion, hackers copy sensitive or commercially valuable data stored on your system and then threaten to sell it to a competitor or widely distribute it if a ransom is not paid.
• Data diddling involves altering data as it’s input into a computer system to create a financial benefit. Payroll, credit records and inventory records are vulnerable to this type of attack. To make detection harder, some hackers change the altered numbers back after they’ve got your money.
• With IoT hacks, cybercriminals gain access to a corporate computer network via poorly protected security cameras, printers and other connected devices.
• Victims of man-in-the-middle attacks are fooled into thinking they’re communicating with someone they know. For example, a hacker may pretend to be your property lawyer and send an email asking you to transfer your property deposit into a specific account. It can take weeks before consumers or lawyers realize there’s been a crime. This technique is also used in business email compromise fraud.
• Hackers use password attacks to gain entry into individuals’ or companies’ computer networks and online accounts. Sometimes, it’s a brute-force attack, where millions of passwords are tried simultaneously in the hopes one is correct. Other times, information targets share about themselves on company websites and social media is used to guess passwords.

Phishing was the most popular attack approach used by cybercriminals in 2020, according to the FBI’s Internet Crime Complaint Center, also known as IC3 .

What does your business have that cybercriminals want?

Cybercriminals are looking for specific information when they hack businesses.

• Sensitive commercial data: Cybercriminals know the market value of the data stored on a business’s computer system, and many gangs offer industrial espionage-as-a-service. Instead of sending thieves to break into competitors’ physical premises, companies can pay hackers to break in electronically to get copies of rivals’ customer databases, obtain details on research and development projects, and more.
• Customer databases: Information about your highest-spending customers can be sold on the black market or to competitors.
• Customer payment details: Unencrypted debit or credit card information is not as valuable as it used to be because banks are getting better at spotting and stopping fraudulent payments. A compromised credit card may work for only an hour or two before it’s blocked, but that’s enough time to inflict serious damage.
• Your company’s identity: Many cybercriminals attempt to change company details held at government agencies to open accounts with suppliers to order goods and financial institutions to take out loans.
• Money in the bank: Although successful checking account breaches are quite rare, cybergangs can still cause significant financial damage to businesses with ransomware and phishing attacks.

What is cybersecurity insurance?

As the threat from cybercrime has grown, so has the number of cybersecurity insurance providers. These insurers provide compensation for incident investigations, data recovery, computer system restoration, income loss, reputational damage, ransoms paid and notification costs.

Extended cybersecurity insurance also includes coverage for legal bills incurred defending yourself against claims related to a breach, as well as for settlements and damages. Insurers will generally not cover lost profits, loss of company value caused by intellectual property theft, or replacing or upgrading technology to become more cybersecure.

As of 2021, the average cost of cyber insurance was $1,485 per year, or $124 per month, with per-incident coverage ranging from $500,000 to $5 million.

Why is it important to safeguard your business against cyberattacks?

Business owners, small and large, need to be vigilant against online threats to protect their company reputation, financial assets and client base. Customers expect the companies they deal with to hold their private information securely. It costs time and money to be digitally secure, but why not turn that into a selling point? Let clients know in your advertising just how seriously you take protecting their personal, professional and financial information. Those safeguards could pay off in more ways than one.

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Cybersecurity Business Plan Sample

This cybersecurity business plan sample is focused on the growing information technology (IT) security sector in Boston, Massachusetts .  We hope this sample provides you with a brief foundation for starting your own cybersecurity company.  Our cybersecurity business plan writers crafted this sample for your review.

Executive Summary

“ProSecure Squad Corporation” operating as “ProSecure Squad” (The Company) was first incorporated in September of 2016 in Massachusetts, Canada and subsequently incorporated in the State of Massachusetts on June 10 th 2020. Over the past years ProSecure Squad has developed and patented revolutionary Cyber- security products.  

With digital transformation of industries being hastened by factors such as E-Commerce, Internet of Things (IoT), Connected Machines, Self-Driving vehicles, Cloud Computing, Artificial Intelligence (AI) and Coivd-19, there has been an enormous increase in the amount of electronic data.

Despite strong cyber-security defenses implemented, cyber-criminals have been getting past these defenses at an increasingly alarming rate and the cost for an organization to retain end-to-end cybersecurity professionals has become astronomical.  This has made the Cybersecurity Market one of the fastest growing industries.  

With patented products, an accomplished team of cybersecurity experts, and a clear strategy for product and service deployment, ProSecure Squad is ready to lead the next wave of cybersecurity.  The company is focused on making its world class data security solutions accessible and inclusive; therefore, targeting wide-scale adoption from medium to large businesses, and government organizations across the globe.

What makes the company’s offering so unique is our focus on simplifying data resiliency; making it easy to protect your data from being spied on, stolen or held for ransom even if a hacker or malware gets past the current cyber-defenses. 

With years of research and development, ProSecure Squad has refined our products and has garnered the interests of large corporations in the security and other Industries. With our offering being tailored to meet the current data security demands, ProSecure Squad is well positioned to become leaders in data security. 

ProSecure Squad Corporation is seeking a 15 Million USD capital investment in return for a 15% equity and voting stake in the company.  These funds will be allocated to taking the company’s products and services to market through direct sales, marketing, customer onboarding and customer support.  With this investment the company will execute on established opportunities, further develop its capabilities, and forge a notable position in one of the fastest growing industry.

Business Overview

“ProSecure Squad International Holdings” a US based company is the parent company of two organizations including ProSecure Squad Corporation (USA) and ProTech (India).  

These locations and corporate structure have been strategically chosen to tap into the strengths of the local markets in efforts to develop, deploy and maintain state of the art cyber-security products and achieve rapid market share growth.  

Mission Statement

To create the most effective and accessible data security products.

Vision Statement

To quench the world’s thirst for data security.

Growth Formula

ProSecure Squad will lead our family of companies into rapid market share growth with the following junctures:

Accomplished Executive Team

• Levi Atif, Founder and Chief Executive Officer.  A proven executive leader with experience in law enforcement, cybersecurity and senior management.
• Adib Waqar, Chief Administrative Officer.  Southeast Asia’s foremost security, management, and talent development expert.
• Ali Reza, Head of Sales.  Sales guru, with proven track record in both enterprise and startup sale hypergrowth.
• Omar Raja, Director of Security.  Cyber Security Leader with years of experience in cyber-security, strategy, incident response, and engineering
• Dr. David Khan, Advisor.  Professor of Information Engineering at MIT, leading expert in large-scale computation, cybersecurity and cloud computing.  

Expert Security, Technical and Sales Team

• Our experts are some of the best in the industry and have been handpicked from organizations such as Deloitte, E&Y, Israel Defense Forces, Samsung, Oracle, GE, EDS, Kearney, to develop state of the art security products.

Teaming Partnerships

• Our Teaming Partnerships are strategic alliances with large and medium sized businesses possessing complementary, yet distinct, skills and resources with goals of our partners selling ProSecure Squad products along with their services and products to their customers.
• These partnerships increase the rate of customer acquisition while reducing the cost of the same. 

Coveted Portfolio of Cybersecurity Products

• Over the last few years, ProSecure Squad has been quietly engineering and patenting revolutionary cybersecurity solutions, designed to give ProSecure Squad a formidable lead over key players, cybercriminals and malware.  
• Our core products are focused on making it easy for our customers to protect their data, even if a hacker or malware penetrates their cyber defenses, thus ensuring the hacker cannot see, steal or hold their data for ransom.
• The cyber-security threat landscape is changing rapidly and ProSecure Squad will constantly innovate to meet the demands of the ever evolving threats.

Market Demand

• It has been said that timing is the biggest commonality between revolutionary companies. 
• With the past unimpressive trends in data security innovation and implementation and the current increase in hacking, there has been a pent-up demand for data security products. 
• The current increase in cyber-attacks is predicted to cost the world 6 Trillion dollars in 2021. 
• There has been a 9,851% increase in cyber-attacks on health care sectors.
• Industries are starting to enforce data level security (Automotive Industry as an example through UNECE WP29 has mandated data level security for vehicles manufacturers and their suppliers)
• ProSecure Squad is well poised to capitalize on this growing market opportunity by providing its state-of-the-art products and services to a welcoming marketplace of medium to large businesses and government agencies.  

Market Accessibility

• We define “Market accessibility” as “Ease at which our customers can consume our products to protect their data”. Technical, Procedural, Financial and Political factors are included when considering Ease.
• Market Accessibility and innovation are extremely important for ProSecure Squad to meet our goals of rapid market share growth. 
• Our products have been designed and will continue to improve our Market Accessibility. 

Goals and Objectives

• Secure a 10 Million USD capital investment, and ensure Hero, Noble, Shield are ready for deployment.
• Capture at least 500,000 active users by June 2022.
• Ensure our products are fully compatible with the UNECE WP29 Automotive Cybersecurity Regulation
• Increase brand recognition by leading our sector, increasing our presence on Linkedin, and executing a strong search engine optimization strategy.
• Ensure that progressing our company culture is of equal importance to business growth.
• Onboard at least 30 active or retired law enforcement professionals, servicemen and servicewomen by December 31, 2022.
• Receive Health Insurance Portability and Accountability Act (HIPAA) Certification.
• Receive ISO/IEC 27701 (ISO 27701) Certification, a privacy extension to ISO/IEC 27001 and ISO/IEC 27002, designed to help us protect and control the personal information we handle.
• Receive Cybersecurity Maturity Model Certification (CMMC) Certification.

Executive Team

Levi Atif, 

Founder & CEO

A lifelong entrepreneur and hands-on CEO with strategic foresight, leadership and determination. As a leader and self-sufficient innovator, Levi is comfortable with any role, from the executive boardroom to the development lab, having managed teams of various sizes and functions. 

Levi’s innate ability to adapt, improve, build and motivate high-performance teams has served as a growth catalyst to provide outstanding products.  Having served and excelled in various capacities in North American law enforcement and recognized with multiple awards.  This along with a background in computer systems and research, gives him a keen understanding of the current issues in the Cybersecurity space. 

Levi has published multiple research papers and has developed innovative software that has increased efficiencies and security of systems, processes, which has led to multiple technology patents issued and pending in his name. Excellence is not an accident, but a by-product of meticulous planning and execution – True to this Levi is determined to achieve vertical market share growth for ProSecure Squad by creating excellence in People, Process and Product.

In an effort to give back to the community, Levi has been involved with multiple non-profit organizations such as the Ceres, Cradles to Crayons and has also been actively sponsoring education for children in underprivileged communities.

Adib Waqar, 

Managing Director, ProTech

Adib is uniquely positioned to drive operations and talent as one of Southeast Asia’s foremost human rights, security, management, and talent development experts. His public sector strategy to transform the potential of human capital has been sought after and recognized internationally for Meritorious Service, leadership, and excellence, by national governments of multiple countries.  Adib holds a BSC and an MA degree in Mathematics, Sociology, Criminology and Management. He also holds certification in Human Rights and Management from Durham University.

Adib was handpicked to advise the Prime Minister of Mauritius during a chaotic term in the country’s Corrections System. Subsequently he was then appointed as the Commissioner of Mauritius by a Parliamentary motion, where he oversaw the transformation of the Prison system from its state of turmoil into being recognized as its best government agency. For this achievement, he was bestowed with the Public Excellency Award in leadership. 

For over 49 years Adib has been involved with many success stories regarding leadership, management and reformation. He served with distinction as the Deputy Inspector General of Prisons in India and has been awarded the “President of India Correctional Service Medal for Meritorious Services”, “Golden Jubilee Medal of Independence of India”, and “Silver Jubilee Medal of Independence of India”.  Adib’s lean management style has been adorned by his superiors, colleagues and team members. 

Head of Sales

Worked in Senior Management Capacity for fortune 500 companies and several successful startups, leading sales and marketing team, Ali holds an MBA from Michigan Technological University.  

Over 30 years of experience selling complex IT, and supply chain software solutions, and products and services.  Recognized for consistently achieving and exceeding sales and Revenue goals.  

Extensive experience in building sales teams, and sales partnership programs that have beat or exceeded revenue goals for the company in both Startup and Growth phase.

Hypergrowth sales experience in enterprise and startup companies such as Xeeva Inc, Revolution Oil, Netlink IT, AT Kearney, GE, EDS Procurement consulting solutions, Market.com and Revolution Oil. 

Omar Raja, 

Director Security

Omar is a seasoned Cyber Security Leader with 15 years of experience with distinct focus in areas like Cyber Security Strategy, Cyber Forensics and Incident Response, Security Engineering and Implementations, and Cloud Security.

Omar brings in GD consulting and advisory experience in managing, executing and delivering complex and dynamic technology projects in the Cyber Security Space. Most recently, he managed and executed critical engagements like performing security reviews of GD data platforms for one of the leading global BFSI partners; defining and Implementing the connectivity baseline security for one of the leading global Automotive partners, and providing a strategic roadmap around consolidation of the HSM’s [Hardware Security Module] for one of the leading global BFSI firms. 

As a GIAC Certified Forensic Examiner, Omar has over 1000+ hours of digital forensic hands-on experience including data imaging, forensic analysis, carving and harvesting. He also designed and deployed the next generation in intrusion prevention, with a revolutionary approach that completely re-thinks the cycle on how to detect and protect from adversaries. He also possesses strong business development, project and program management skills, leadership and interpersonal skills. He has worked with partners across a range of industries, including BFSI, Technology, Telecom and Manufacturing.

Dr. David Khan, 

Dr. David Khan is a Professor of Information Engineering at MIT and a leading expert in large-scale computation, cybersecurity and cloud computing. He has been named one of the Top-50 Most Influential Persons in Computer Networks in the world.

Dr. Khan has published over 300 papers and 4 books. He served as Director of the MIT AutoID Laboratory from 2006-2010, where the “Internet of Things” was invented. He also served as Co-Director of the seven global AutoID laboratories, which developed the Electronic Product Code Information Systems (EPCIS)—a key software component used by industry and government to drive almost every supply-chain. He was a member of the EPC Global Architectural Review Committee for global standards. 

In cyber-physical security, Dr. Khan was PI for impact analysis of large-scale cyberattacks and in collaboration with Lincoln Laboratories, where he designed a Cyber Range for the United States Department of Defense (DOD), which enabled his team to conduct experiments and model the cyber environment in a highly portable fashion. 

In machine learning, he is working to address financial fraud for a $70 billion state enterprise. This Accenture-funded project designed a situational awareness framework to exploit different perspectives of the same financial data, and assigns risk scores to entities (payment documents) to improve false positive ratios, and to help identify fraudulent activity in huge and unlabelled financial data sets. 

Dr. Khan consults for companies across the world including Accenture, Altria, Kajima, Simizu, SAP, Shell, Exxon, Aramco, Total, IBM, Microsoft. Along with Dr. Tan, he teaches online courses in Digital Transformation, Data Science, Computational Thinking, and Blockchain.

Core Products

Shield’s Patented technology is an easy to integrate, lightweight software that can be used by application developers to protect data as it is being moved from one device to another, or while it is being stored at endpoints such as Mobiles, Machines, IoT devices, etc.  

As the volume of data that is being moved around and stored in the endpoints increases, it becomes critical to protect this data. While infrastructure security technologies like TSL, VPN, firewall, and others protect today’s data pipelines, the data itself remains vulnerable and unprotected. 

Hackers have been extremely successful in spying and stealing such data and even use it to take over IoT devices and machines with disastrous consequences. Currently there is no easy and quick way for application developers to secure the application data in transit or when it is stored in the Levices. 

Going to market rapidly is critical for the success of a company. Lack of rapidly deployable data protection products has led to the developers, either not implementing these security precautions or choosing to implement basic level security, often with little or no internal and third party security testing. 

Hackers and malwares are exploiting these weaknesses which has resulted in an increase in hacking. As an example there has been a 9,851% increase in attempted attacks on health care endpoints.

Just to give a few examples of who can use Shield; (a) Companies with Mobile Application (b) IoT Manufactures (c) Air/Sea & Land Vehicle Manufactures (d) Machine Manufactures (e) Space Manufactures (f) Medical Machine Manufacturers (g) Robotics Manufacturers (h) Sensors Manufacturers (i) Entertainment Industry (ensuring videos or audios cannot be used without the application) etc.

Product Pricing

Ou r products are sold in a Security as a Service (SaaS) model, where our products will be licensed for use by our customers. 

ProSecure Squad plans to onboards companies in the targeted verticals which has mobile application and sensitive data.  Through these mobile applications, ProSecure Squad is planning to support 500,000 active monthly users.  

If these 500,000 users encrypts data only 5 times daily using their mobile applications, ProSecure Squad is expecting 2,500,000 encryption each day for a daily revenue of $2,500 and a yearly revenue of $ 912,500.

Targeted Verticals

• Mobile Application Developers
• BFSI Mobile Application 
• Betting Mobile Application 
• Dating Mobile Application 
• Defense Mobile Application 
• Health Care Mobile Application 
• Government Mobile Application 
• Social Media Mobile Application 
• Telecommunication Application
• Automobile Mobile Application 
• Retail and e-commerce Mobile Application
• Entertainment Application
• Education Application
• Machine Manufactures
• IoT Manufactures

Hero’s Patented technology protects data and keep it safe from both internal and external threats. Despite strong security measures, major corporations, and governments have been increasingly susceptible to having their data stolen or held for ransom.  ProSecure Squad protects data in storage by distributing it and hiding it so a hacker cannot see it, seal it or lock it.

Hero does not use access based system to protect data unlike most modern storage system, instead our patented product uses “doublelocks”  (ie. Uses a user keys and users themselves) and “ledger-less distribution” which breaks the data into tiny pieces, encrypts and distributes it amongst hidden nodes.  Only if the “doublelock” is unlocked can the data pieces can even be located. 

With an increasing number of breaches in the cloud, despite strong infrastructure security technologies like TSL, VPN, firewall, and others which protect today’s data pipelines, the data itself remains vulnerable and unprotected. 

Hackers have been extremely successful in spying, stealing and holding for ransom the data stored in the cloud with disastrous consequences.  Having the data “doublelocked” and “ledger-less distributed” means that no one except the data owner can locate the file let alone try to decrypt it.  This reduces the chances of advanced attacks and insider attacks on the customers data.

Even encrypted data stored in the cloud have been compromised multiple times in the recent past and they have also been held for ransom.  The problem lies in the fact that even encrypted data can be decrypted with appropriate access, this weakness has been exploited by attackers successfully as evidenced in the recent breaches.

Just to give a few examples of who can use Hero; (a) Companies that store sensitive data and want to protect it (Trade secrets, customer information, secret formulas, financial information etc.) (b) Companies that want to back up sensitive data and have ransomware protection (c) Cloud data storage companies such as Dropbox.

• Banking, Financial, Securities and Insurance Industry (BFSI)
• Health Care
• Governments
• Information Technology

Our products are sold in a Security as a Service (SaaS) model, where our products will be licensed for use by our customers. The licensing cost for Shield is as below:

Over 80% of security breaches are credentials-related, Noble’s authentication is infused with advanced security features, such as multifactor (biometric, puzzle, location, Levice) multipoint, cross platform authentication to validate a user or data.  The hassle free Biometrics is privatized, protected and kept in compliance, so you do not have to worry about it. Noble is more than just an user authentication module, our innovative use of this technology extends biometrics to data protection as well.  Noble technology can readily integrate into your desktop or mobile device to provide unparalleled, hassle free user and data validation.  The Noble is fast, reliable and can keep your bio-metrics protected, private and in compliance.

ProSecure Squad Hero, Shield and Noble will be targeted to the following verticals:

• Information Technology (IT)
• Manufacturing
• Banking, Financial Services and Insurance (BFSI)
• Government & Defense 

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Peripheral Products

Modernize and protect your business by exchanging and storing files through the most secure cloud platform for file transfer and storage.  Your privacy is paramount, no one except the data owner will ever be able to access the data.

Managed Security Services

Providing state of the art enterprise level cyber-security services for your business, by assessing, managing, mitigating and responding to a multitude of cyber threats, so you can focus on your business.

Recurring Revenue +New Customer Acquisition

We plan to provide our core products to the following verticals:

• Small to medium-sized businesses (SMBs)
• Healthcare 
• Energy & Utilities

Operational Model

ProSecure Squad’s operations will consist of a Hybrid Business Model where a portion of team members work remotely from home, and others meet at designated offices.  This will be determined by two overriding factors: whether a team member resides near one of our offices, and whether their position is optimized for remote or in-person work.  In situations that there is flexibility around this matter we will provide staff with the option to choose whether to work from home or in the office.

At the present time, ProSecure Squad is located in Massachusetts , Michigan and India.  ProSecure Squad has a physical location in India and operates remotely in Michigan and Massachusetts.  ProSecure Squad is looking for a space in Massachusetts and have embarked in negotiations.  The following will determine the location for ProSecure Squad’s headquarters:

• Strong support by local government 
• Lower cost of resources
• Robust Manufacturing, Health and Government Sector presence

Process Quality and Auditing

Security and quality are built into our DNA, ProSecure Squad is an ISO270001 certified company and working towards other certifications (ISO 27701, NIST, HIPPA, CMMC etc). On a regular basis, we audit ourselves and along with external parties to ensure security and quality.  

Deloitte has been tasked with ensuring manning and operating a 24X7 Security Operations Center for ProSecure Squad. 

Our External Audit is conducted by:

ProSecure Squad has the greatest businesses on the planet protecting us, and helping us grow.  This can be shown by our external auditing process:

• Deloitte: 24/7 security monitoring, annual external audit
• KPMG: annual external audit
• International Organization for Standardization (ISO): process and security audits

Our internal auditing process consists of the following:

• Internal Auditing Team that is reviewed quarterly by management
• Cyber Governance Team that is reviewed every 6 months by management
• Process and Security Audits conducted weekly and quarterly

Process Quality

ProSecure Squad has developed and matured a robust software research, development, QA Testing and Security Testing which includes both internal and external testing partners.  The process has been audited by Deloitte and during our ISO audit.  Please find the process below:

Customer Journey Process

ProSecure Squad’s customer journey process is as below:

• LEAD STAGE: A lead is a potential buyer. 
• PROSPECT & QUALIFYING STAGE: 
• Prospect – A lead that is qualified or determined to be ready, willing, and able to buy. 
• Qualified Prospect (QP) – A prospect who has been approved by ProSecure Squad for the sales agent. 
• DISCOVERY MEETING: Strategic approach to the QP. 
• DEMO/SOLUTIONING: Educating the customers on how we can enable their technology and security needs. 
• PROPOSAL: Written documents where ProSecure Squad offers product and our service pricing to the potential customer. The proposal should demonstrate how we can serve the needs of the potential customer by showing the key benefits and value that ProSecure Squad can provide. 
• NEGOTIATION: This is the strategic discussion between the buyer and the seller that will ideally lead to a deal being closed. 
• CLOSE: This is the final agreement on both sides to complete the signing of the deal, and move forward on delivering the products, or services purchased. 

Market Overview

The global cybersecurity market was worth $173B USD in 2020, growing to $270B USD by 2026. By 2026, 77% of cybersecurity spending will be for externally managed security services.  While money spent on in-house or internal cybersecurity functions is expected to grow 7.2% each year to 2026, global spending on external cybersecurity products and services is projected to increase by 8.4% annually over the same period.

Cyber security and defense against online threats undertake greater significance in today’s digital changing landscape. It has become vital amid organization due to rapidly increasing frauds, cybercrimes, risk, threats, and vulnerabilities. Disruptive and emerging technologies in banking, retail, information technology, defense, and manufacturing sectors have offered new capabilities, facilitated automation, and offered ease of working in the recent past. However, these technologies have also emerged as a potent factor in the development of the global threat landscape of exploits, vulnerabilities, and malware. The emerging threat landscape is observed with an increased number of cybercrime activities in the global digital era.

Market Trends

Expanding Cyber-Attack Surface (Remote Work, IoT, Supply Chain)

According to cybersecurity ventures, t he world will store 200 zettabytes of data by 2025 . This includes data stored on private and public IT infrastructures, on utility infrastructures, on private and public cloud data centers, on personal computing devices. 

The digital transformation was rapidly pushed by Covid-19 and the need to move individuals working in offices to working remotely from their homes. That led to essentially millions of connected offices. It is estimated that nearly half the U.S. labor force is working from home , and that it is greater in many other countries due to lockdowns.  Home offices are not as protected as the fortified office sites that have more secure firewalls, routers, and access management run by Its security teams. Remote work has created new opportunities for hackers to exploit vulnerable employee devices and networks. Dorit Dor, vice president of products, Check Point Software elaborated on how the digital transformation. “Businesses globally surprised themselves with the speed of their digital initiatives in 2020: it’s estimated that digital transformation was advanced by up to seven years. But at the same time, threat actors and cyber criminals also changed their tactics so that they could take advantage of these changes, and the pandemic’s disruption, with surges in attacks across all sectors.” 

The 2021 Director of National Intelligence (DNI) report estimates that IoT will reach 64 billion objects all monitored in real time.  “Looking forward, a hyperconnected world could support up to 1 million devices per square kilometer with next generation cell phone systems (5G), compared with the 60,000 Levices currently possible with current cell networks, with even faster networks on the horizon.” Office of the Director of National Intelligence – Global Trends (dni.gov)

The Internet of Things (IoT) is related to supply chain vulnerabilities. IoT’s exponential connectivity is an ever-expanding mesh of networks and devices. Supply chain cyber-attacks can be perpetrated from nation state adversaries, espionage operators, criminals, or hacktivists. Their goals are to breach contractors, systems, companies, and suppliers via the weakest links in the chain. This is often done through taking advantage of poor security practices of suppliers, embedding compromised (or counterfeit) hardware and software, or from insider threats within networks. Please see my FORBES article: Cybersecurity Threats: The Daunting Challenge of Securing the Internet Of Things Cybersecurity Threats: The Daunting Challenge Of Securing The Internet Of Things (forbes.com)

Protecting such an enormous attack surface is no easy task, especially when there are so many varying types and security standards on the Levices.”  One way to address the expanding attack surface is to use an automation tool chest that can now utilize horizon scanning technologies, analytics, audits, incident alert tools, diagnostics, and even self-repairing software. Artificial intelligence and machine learning technologies can also provide for more efficient decision making by prioritizing and acting on threats, especially across larger networks with many users and variables.

Ransomware as a Cyber Weapon of Choice

Ransomware has been around for almost two decades and has grown in popularity because it can more easily bring financial rewards to hackers. It is estimated that there are now 124 separate families of ransomware and hackers have become very adept at hiding malicious code. Success for hackers does not always depend on using the newest and most sophisticated malware. It is relatively easy for a hacker to do. In most cases, they rely on the most opportune target of vulnerability, especially with the ease of online attacks.

Last year, ransomware made up nearly a quarter of the incident-response engagements for IBM Security’s X-Force threat intelligence group. Fifty-nine percent of the ransomware incidents involved cybercriminals exfiltrating, before encrypting, the data — so-called “double-extortion” attacks. Ransomware, Phishing Will Remain Primary Risks in 2021 (darkreading.com)

The reason is that ransomware became a weapon of choice for hackers in the COVID-19 induced digital landscape. The transformation of so many companies operating in a mostly digital mode had created more targets for extortion. According to a research study by Deep Instinct, ransomware increased by 435% in 2020 as compared with 2019. And the average ransomware payout has grown to nearly $234,000 per event , according to cybersecurity firm Coveware.  Malware increased by 358% in 2020 – Help Net Security

The trend in 2021 is that criminal hacker groups are becoming more sophisticated in their phishing exploits with use of machine learning and more coordinated sharing on the dark web and dark web forums. Hackers are also able to get paid via cryptocurrencies that can be difficult to trace making ransomware more a priority in their exploit tool chests. With the advent of cryptocurrencies in ransomware, it became a profit motive for a lot of the criminal enterprises. They replaced brick and mortar crime with digital crime.

The estimated cost of ransomware was $20 billion in 2020, a rise from $11.5 billion in 2019 and $8 billion in 2018. That trend will continue to grow.  22 Popular Types of Cyber Attacks in 2021 – CyberExperts.com  The likely impact for the near-term future is that there will be more ransomware attacks against institutions and corporations who are less cyber secure and cannot afford to have operations impeded such as health care, state & local governments, and educational institutions.  Preventing ransomware requires cybersecurity awareness and preparation based on anti-malware programs, secure passwords, updating patches and having secure routers, VPNs, and Wi-Fi. Most important of all, do not fall for the Phish and be sure to back up sensitive data.

Threats Against Critical Infrastructure; ICS, OT/IT Cyber-Threat Convergence

The 2020 World Economic Forum’s Global Risks Report listed cyberattacks on critical infrastructure (CI) as a top concern. WEF noted that “attacks on critical infrastructure have become the new normal across sectors such as energy, healthcare, and transportation.” The Global Risks Report 2020 | World Economic Forum (weforum.org) Dragos Inc. “Year in Review 2020” report of industrial control systems (ICS) and operational technology (OT) cyberthreats, vulnerabilities, assessments and incident response insights determined that threats have increased threefold in the past year. Dragos: ICS security threats grew threefold in 2020 on February 24, 2021 at 12:00 am SearchSecurity (itsecurity.org)

The threats are growing along with the attack surfaces associated with CI. The types of cyber threats include phishing scams, bots, ransomware, and malware and exploiting software holes. The global threat actors are many including terrorists, criminals, hackers, organized crime, malicious individuals, and, in some cases, adversarial nation states. Hackers often seek out unsecured ports and systems on industrial systems connected to the internet. IT/OT/ICS supply chains in CI can be particularly vulnerable as they cross pollinate and offer attackers many points of entry and older Legacy OT systems were not designed to protect against cyber-attacks.

In the U.S., most of the critical infrastructure, including defense, oil and gas, electric power grids, health care, utilities, communications, transportation, education, banking, and finance, is owned by the private sector (about 85 percent) and regulated by the public sector. The energy sector stands out as being particularly vulnerable. This ecosystem of insecurity includes power plants, utilities, nuclear plants, and The Grid. A reason for why the sector has become more vulnerable is that hackers have gained a deeper knowledge of control systems and how they can be attacked and can employ weaponized malware against power stations and other energy related CI assets.

The recent Solar Winds Cyber-attack can also be viewed as a wake-up call for the interactive nature of OT/IT infrastructures. According to Grant Geyer, chief product officer of Claroty the advanced capabilities and backdoors in use by the attack “should put any organization that includes nation-state actors as part of their threat mode on alert, including critical infrastructure, industrial control systems (ICS) and SCADA operators.” SolarWinds: Why OT should worry (controlglobal.com)

Protecting critical Industrial Control Systems (ICS), Operational Technology (OT), and IT systems from cybersecurity threats is a difficult endeavor. They all have unique operational frameworks, access points, and a variety of legacy systems and emerging technologies. The explosion of connected devices comprising the Internet of Things and The Internet of Industrial Things is challenging. The trends of integration of hardware and software combined with growing networked sensors are redefining the surface attack opportunities for hackers across all digital infrastructures.

To help ameliorate threats, critical infrastructure operators should apply a comprehensive risk framework to implement or to address vulnerabilities to OT/IT convergence including “security by design”, defense in depth, and zero trust to counter cyber threats. It is especially important for the public and private sectors to coordinate and apply and enforce industry security protocols, especially related to Supervisory Control and Data Acquisition (SCADA). The Internet was not built for security at its inception; it was built for connectivity. Following industry and government protocols derived from lessons learned is essential for protecting vital infrastructure.

Other mitigation efforts can be done by employing new technologies that monitor, alert, and analyze activities in the network. Emerging technologies such as artificial intelligence and machine learning tools can help provide visibility and predictive analytics.  It is also good to have diversification and multiple sourcing for suppliers in the event of a breach. Preparation and redundancy are advantageous in crisis scenarios. But like most issues in cybersecurity, it comes down to people, vigilant processes, and technologies coupled with risk factors constantly being reviewed.

Competitive Advantages

Technical Advantages: Our products are revolutionary, making it near impossible for an attacker to even stand a chance.  What truly sets us apart is our proprietary technology which protects our customers’ data.  We understand the importance of continuing to be pioneers in the cyber-resiliency space.  

These technical advantages offer a strategic advantage not only because of the patents, but also because of the diversity of clients we can onboard.  

• Advanced Transit Protection – By breaking the data into tiny pieces and “doublelocking” it with receiver information, we can ensure that no one expect the receiver can see the data. The encryption, changes every time there by evading advanced attacks.  
• Endpoint Data Protection – The data which has been protected by Shield cannot be viewed or used by any application other than the actual application that put the data there. Thereby increasing security of the data.
• Multi-Platform – The above protections can be done in mobile, desktop, cloud, machines, IoT Levices etc., thereby giving ProSecure Squad an unique advantage over our competition. 
• Low Code – Integrating our products only needs a minimum level of coding, in fact ProSecure Squad is planning to embark on a journey to automate the process of integration of our products into applications.  This will further enhance our capability and improve the speed at which we can deploy. 
• Ledger less Distributed Data Protection – By distributing the broken pieces of data across hidden storage without a ledger, we can ensure no one except the data owner can access the data.
• Double Lock Protection – We lock the data with the owners keys and the owners information to ensure the distributed data cannot be pulled out without the data owner. 

Business Advantages

• Teaming Partnership – Our Teaming Partnerships are strategic alliances with large and medium sized businesses possessing complementary, yet distinct, skills and resources with goals of our partners selling ProSecure Squad products along with their services and products to their customers.  This partnership increases the rate of customer acquisition while reducing the cost of the same.
• Accessibility – Our products will become more and more easy to use and also affordable. 

Sales & Marketing Plan

ProSecure Squad is planning to sell to customers using both Direct sales and Teaming Partners. Teaming partners will be used as power resellers while direct sales will primarily be done through our sales team and it will be supported by commission only contractors.  ProSecure Squad will also work with social media marketing agencies to market directly to customers.

Targeted Verticals 

• Information Technology,
• Banking, Financial Services and Insurance (BFSI),
• Healthcare,
• Media and Entertainment,
• Manufacturing, 
• Health care, 
• Government & Defense.

Key Channels 

Direct Sales  

• Outbound emailing
• Sponsored Linkedin Messaging
• Outbound Calling 

Teaming Agreements 

• Deloitte, KPMG, Wesco, EY
• Will utilize this model with future clients, where they can upsell our products 

Social Media Marketing

• Linkedin Content and Engagement
• Facebook Marketing to build awareness
• Targeted pay per click advertising 

Financial Plan

Pro Forma Income Statement

Pro Forma Cash Flow Statement

Pro Forma Balance Sheet

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How To Create a Small Business Cybersecurity Plan That Works

With the headlines focused on cybercrimes and information leaks affecting large companies, it’s important to remember that small businesses can also be vulnerable to data breaches and other cybersecurity issues. A small business cybersecurity plan is an effective way to document proactive steps that organizations can take to protect themselves from cyber threats.

Want to learn more about using a password manager for your business?

Check out Dashlane's password manager for small businesses or get started  with a free business trial .

Why do you need a small business cybersecurity plan?

With 52% of small to medium-sized businesses (SMBs) experiencing a cyberattack in the past year , most small businesses realize they need to develop or improve strategies to protect their company, employees, and customers from cyber threats. Building effective plans and policies takes time and effort, which is likely why 40% of SMBs still don’t have a cybersecurity plan in place.

• Small business vulnerabilities: Employees at small businesses often wear multiple hats, and IT resources can be stretched thin, so it’s understandable why some small businesses avoid or postpone cybersecurity planning. At the same time, a small organization may have fewer security protocols and tools at its disposal and may be less able to withstand the cost of a data breach if it happens. Despite the limited resources and conflicting priorities, security policies for small businesses should be considered essential.
• Flexible work arrangements: Small companies benefit from the flexibility and reduced overhead offered by work-from-home (WFH) and bring-your-own-device (BYOD) policies. An overall system security plan for small businesses should focus on keeping devices and company data secure , even when employees and devices are widely dispersed.
• Protecting stakeholders and sensitive data: Small businesses often capture personally identifiable information (PII) and other sensitive data on company laptops and other devices. A written cybersecurity strategy defines how to proactively protect data and stakeholders from cyberattacks and how to respond quickly if sensitive data is lost or stolen so that the impact can be minimized.
• Securing customer and client trust: If a small business stores customer or client information on its servers, securing this data is critical for preserving customer privacy, establishing trust, and meeting any relevant compliance standards. A written cybersecurity plan that is updated as cyber threats evolve helps to safeguard brand integrity and customer satisfaction.

The cybersecurity climate for small businesses is constantly changing. Find out how the latest trends are impacting company policies and employee attitudes as Dashlane highlights 10 New Cybersecurity Trends at Small Businesses .

What makes up a cybersecurity plan?

To create a solid small business cybersecurity plan, you must understand a few important terms and concepts. Here are some core elements you’ll find in a cybersecurity plan: 

• Security risk assessment: A cybersecurity risk assessment is an organized way to brainstorm security vulnerabilities and the actions needed to address them. Listing potential threat sources, common attack types in your industry, past known threats and breaches, and the potential financial impact of future cyber events allows you to identify and prioritize any gaps in your security profile. There are many standardized risk assessment formats available that make it easier to organize and evaluate the information you gather.
• Secure systems: A secure system consists of the three moving parts—hardware, software, and people—that work together to keep a company safe from cyberattacks and data breaches. Secure systems use prevention, protection, and response in equal measures to protect valuable information and keep the business running smoothly. 
• Access control protocols : When a user logs in to a company network or application, they must be authenticated to prevent unauthorized access. As part of a cybersecurity policy for small business environments, an access control protocol describes the steps taken to verify user identity with passwords, PINs, or security tokens. Access control is especially important for small businesses monitoring employee logins from multiple devices and locations.
• Employee training: Effective training requires more than just a read and acknowledge (R&A) checkbox with busy employees quickly skimming through cybersecurity policy documents. Interactive training sessions that stress the reasons for and importance of the cybersecurity plan are more likely to resonate and foster a flourishing cybersecurity culture . Cybersecurity training for remote employees should highlight issues like safe password sharing , avoiding public WiFi use without a VPN , prompt reporting of data breaches and malware, and enabling multi-factor authentication.

The 6 steps to creating a small business cybersecurity plan

Cybersecurity planning is made easier by breaking the process into a few simple steps that can gradually move you closer to a customized and effective cybersecurity plan.

• Update your hardware and software

As you begin the planning process by assessing risks and forming a project team to complete and carry out the cybersecurity plan, you should prepare your existing systems and software by completing any necessary maintenance and updates. This includes updating web browsers to the latest version, applying any recommended patches for applications and operating systems, and testing your WiFi network to make sure it’s secure.  

• Choose your cybersecurity tech stack

A cybersecurity tech stack includes the tools and platforms you need to enable your security strategy. To protect your digital assets, the tech stack should be based on the results of the cybersecurity risk assessment and include elements such as:

• Firewalls: A firewall forms the first line of defense for network security by allowing or blocking network traffic based on predefined security rules.
• Antivirus software: Good antivirus software continually scans employee computers and devices for harmful malware and other malicious programs that can compromise employee credentials and company data.
• Authentication protocols: New authentication measures based on the risk assessment might include 2-factor authentication (2FA) or multifactor authentication (MFA) that use identifiers like codes sent through an app or email in addition to password authentication. Dashlane uses 2FA for added protection when you sign in to your password manager from a new device. An optional authenticator app stores 6-digit 2FA tokens for your most important logins.
• Monitoring software: Monitoring tools that scan the network for vulnerabilities can be used to improve visibility into safe network and device usage for remote employees.
• Backup and recovery plans: The tech stack includes the internal and cloud storage hardware (servers) that define your options for data storage, backup, and recovery. The cybersecurity policy for small businesses should also include disaster and recovery protocols.
• Create a plan for all devices used to conduct work

With BYOD policies in place, each new phone, laptop, tablet, or smartwatch brings unique interoperability and security challenges. The small business cybersecurity plan should define what devices can and cannot be used, what applications can be installed, and how company data is removed from shared devices when employees leave the company. The policy should also include guidelines for reporting lost or stolen devices. A password manager can make it easier to control network access for all devices used to conduct work or to sync credentials remotely. 

• Develop sensible cybersecurity policies

Sensible password policies should be risk-based and eliminate legacy activities like 30/60/90-day password reset intervals that do little to improve security . The topics that should be included in a well-defined and sensible cybersecurity plan example include:

• Password requirements for length and complexity .
• Safe password-sharing guidelines, especially for remote employees sharing passwords over the internet.
• Restrictions on using browser password managers to store information.
• Conditions when 2FA must be used.
• Onboarding and offboarding checklists to streamline computer and password setup for new employees and device, data, and password controls for departing employees.

• Inform and train your employees

With remote work redefining security perimeters for small businesses, 37% of organizations have increased cybersecurity training to better inform employees on the latest threats and methods to protect against them. An information security policy for small business environments should describe how training, information sharing, and employee feedback play important roles in preventing cyberattacks and data breaches .  

• Install the right tools

You should review and upgrade your cyber tool kit to make sure the threats you’ve identified in your plan can be prevented or addressed consistently. Some of the more useful and cost-effective cybersecurity tools for small businesses include:

• Antivirus software to protect employees from malware, phishing , and spyware.
• A virtual private network (VPN) to encrypt all data going into or out of employee devices and route it through a secure portal.
• Single sign-on (SSO) to reduce attack surfaces by allowing employees to log in just once per day, using one set of secure credentials.
• A password manager to improve security and efficiency by creating, encrypting, storing, and auto-filling complex and unique passwords for employees.

How Dashlane makes your cybersecurity plan more effective

Despite the growing popularity of cybersecurity tools, 69% of small businesses are still concerned about being the victim of a cyberattack. Cybersecurity plans for small businesses bridge this gap by defining how tools, training, rules, and infrastructure come together to foster a security culture. With password management features such as SSO, VPN, encryption, a secure password-sharing portal, and 2FA, Dashlane provides solutions that support and sustain small business cybersecurity plans.  

Cybersecurity planning is too valuable to delay.

Learn more about the unique password and security challenges of small companies by reviewing the informative Dashlane Password Playbook for Small Businesses .

• Dashlane, “ These Small Businesses Got Hacked So You Don’t Have To ,” January 2022.
• Help Net Security, “ 52% of SMBs have experienced a cyberattack in the last year ,” November 2021.
• Dashlane, “ 3 Billion Reasons Your Small Business Needs a Password Manager ,” October 2022.
• Dashlane, “ Why Every Employee Device Should Be Secured ,” May 2021.
• Dashlane, “ Cybersecurity Strategy: Best Practices for Small-to Medium-Sized Businesses ,“ October 2022.
• Dashlane, “ 10 New Cybersecurity Trends at Small Businesses ,” 2022.
• IT Governance, “ Cybersecurity Risk Assessments ,” 2022.
• Dashlane, “ What a Secure System Is & How to Implement It in Your Business ,” October 2022.
• Dashlane, “ Celebrating IT Heroes at Small Businesses: How They’ve Created a Strong Cybersecurity Culture, and Why That Matters ,” November 2022.
• Dashlane, “ 3 Remote Work Security Practices for Your Small Business ,” October 2022.
• Cox Blue, “ 10 Ways To Secure Your Business WiFi Network ,” 2022.
• Datto, “ What Is a Firewall and Why Is it Important in Cyber Security? ” May 2022.
• Dashlane, “ How Dashlane Makes 2FA Easy ,” June 2022.
• Dashlane, “ How Strong Is Your Password & Should You Change It? ” August 2022.
• Dashlane, “ How to Erase Saved Browser Passwords: Step-by-Step Guide ,” November 2022.
• Dashlane, “ 2022 The Future of Secure Work for People + Organizations ,” 2022.
• Dashlane, “ Always Change Your Passwords After a Breach ,” March 2020.
• Dashlane, “ Create a Culture of Cybersecurity: Teach Employees to “Catch a Phish, ” August 2021.
• Dashlane, “ A Step-By-Step Guide to Managing Passwords in Small Businesses ,” January 2022.
• AdvisorSmith, “ Report: Cyberattacks Affected 42% of Small Businesses in Past Year ,” November 2021.
• Dashlane, “ Password Playbook for Small Businesses ,” 2022.

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Cybersecurity for Small Business

PROTECT YOUR SMALL BUSINESS

Learn the basics for protecting your business from cyber attacks. The business cybersecurity resources in this section were developed in partnership with the National Institute of Standards and Technology, the U.S. Small Business Administration, and the Department of Homeland Security.

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