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Hello, cybersecurity enthusiasts! Brian Ahern, CEO of CyberMaxx, here with another week of LinkedIn content!
We finished off August with a great round of insights. This started with the importance of cyber insurance and the evolution of the cybersecurity industry. We then ended the month by discussing how you can use channel leverage to grow your business.
Didn’t get a chance to see it? No worries at all! We’ve compiled this week’s content into one blog post to provide a seamless educational experience for our valued customers, partners, and other stakeholders.
And our audience can check it out right from the CyberMaxx blog.
So, without further ado, here’s a summary of each post, plus links to access the full LinkedIn article.
Criticality of Cyber Insurance for SME
Cyber and data breach insurance is a significant last line of defense when your business falls victim to an attack. So, it only made sense that I do a post on its importance for small and medium-sized enterprises (SMEs).
I declare that cyber insurance is now a “necessity,” not just a “nice-to-have.” Using customer examples, I highlight how frequently a business gets hit with ransomware and has to pay out of pocket because they didn’t purchase coverage. Ultimately, when it comes to cyber attacks, it’s not “if” but “when.” And I can’t stress enough the value of a robust cyber insurance policy to protect your bottom line. I then transitioned into considerations on why SMEs need a cyber policy:
- SMEs are heavily targeted due to limited cybersecurity resources, in which an attack can devastate smaller businesses (even causing them to go under as a result).
- Cyber attacks are expensive and can lead to significant financial loss from response, legal fees, and fines.
- Cyber insurance covers those expenses.
- With cyber-attacks, time is of the essence during recovery. Cyber insurance provides support and coverage for swift recovery to minimize downtime and maintain public trust.
- Cyber insurance often requires risk assessments and security measures and, by default, can help you meet industry and compliance standards.
- Cyber insurance offers a proactive approach to managing cyber risk, boosting customer confidence and gaining a competitive advantage.
- Most cyber policies include incident response teams, legal experts, and security professionals, which gives your business access to essential resources to handle a cyber crisis.
- Cyber threats might evolve, but cyber insurance doesn’t. It provides ongoing coverage for both new and emerging threats.
Need more reasons to procure cyber insurance? Check out the full LinkedIn article here.
Generation Shaping of the Cybersecurity Industry
My August 28th post provided an interesting perspective for every age group. Broken down by generation, I highlighted various perspectives, skills, and values the industry has seen over the years.
Baby Boomers (1946-1964)
- Laid the groundwork for what could later become the cybersecurity industry, including developing early mainframes, network infrastructure, and the initial protocols
- Focused on legacy systems and securing legacy infrastructure that some organizations still use today
- Played a pivotal role in developing regulatory frameworks and compliance standards, including early data protection laws like ISO/IEC 27001
Gen X (1965-1980)
- Helped evolve and shift from physical security to information security due to the rise of the internet and corresponding cyber threat risks
- Developed cybersecurity tools and solutions that are still in use today and founded major industry players such as Symantec, McAfee, and Cisco.
- Integrated cybersecurity into a broader risk management framework, which helped treat cybersecurity as a business-critical concern
Millennials (1981-1996)
- Used their deep understanding of the internet and tech landscape to identify and mitigate evolving threats quickly
- Drove innovation in nuanced areas like cloud security, mobile security, and threat intelligence, which shaped many cutting-edge solutions through startups
- Placed a significant value on data privacy, which led them to produce privacy-enhancing tools and stricter data protection regulations
- Emphasized collaboration in cybersecurity, including open-source tools and community-driven initiatives, such as bug bounty programs and threat intel sharing
Generation Z (1997-2012)
- Continue treating cybersecurity as a norm due to their exposure at a young age.
- Driving the focus on securing new technology targeted by threats, like IoT, blockchain, and AI
- Advocating for diversity and inclusion in the cybersecurity industry to tackle some of today’s challenges
- Bringing a large focus on user experience by creating security solutions that are both robust and user-friendly
Generation Alpha (2013-present)
- Shaping the future of cybersecurity by growing up in an area of constantly-evolving cyber threats and complex digital environments like smart cities and autonomous vehicles
- First-generation where cybersecurity education will start at an early age and become a standard part of the curriculum
Get the full scoop on how different generations have shaped the cybersecurity industry in my full LinkedIn article here.
Leveraging Channel to Accelerate Growth
My August 29th article is for any cybersecurity company seeking an alternative revenue-scaling model. Assuming you have limited national brand equity, I propose something different from a direct sales model: channel leverage.
My post covered why:
- You get access to a broader market and can expand geographically without needing a direct sales force at every location.
- You can reduce sales costs and share marketing and support resources with channel partners.
- You get faster speed to market and deployment of products and services, plus immediate credibility if you’re working with well-known channel partners.
- You can use channel partner expertise and leverage customization and integrated solutions to add more customer value. Partnering with channel partners allows you to focus on core competencies, innovate, and outsource a business’s operational burden.
- You can lower your risk and diversify your market via channel partnerships.
- Aligning incentives (when you win, your channel partner wins, and vice versa) creates loyalty and positive long-term relationships that promote mutual success.
- You can obtain a clear, competitive advantage by outmaneuvering others in the space with channel partners, especially if they agree to channel partner exclusivity.
Ready to take your sales to the next level? The full LinkedIn article has all the insights you need to drive business via the channel leverage model