As business owners, we have to weigh the costs and make sure things balance out. Some of the decisions that I see people and companies making are mind blowing from a technical standpoint.
One thing I want to make sure that is stressed is that reactivity costs you and your business more in the long run when something happens.
We’ll focus on two big items. Your business data, and the security in place to protect that data.
- Adequate Business Backups – $200/year, depending on your data
- The cost of restore in the case of a failure without adequate backups can be $1000’s + lost data and days of downtime
Having adequate security can save you hours to months to years of headaches. There are 2200 cyber attacks per day. You should be doing everything in your power, to reduce your risk.
- Proactively keeping up with security can be a headache on its own. Experts recommend anywhere from 5-10% of your overall budget be on cyber.
- Simply put, being reactive with security can potentially put you out of business, in bankruptcy or leave you with a stolen identity. It’s not worth the risk.
Never underestimate either of these items. Never become complacent thinking what you have is enough.
Do everything you can to avoid being a statistic.