The risks that come with letting your business remain unsecured are undeniable. Not only could your personal information and data be in jeopardy, but so could your team members and customers.
As a business owner, it is up to you to protect your staff, manage the business’ legalities and necessary documents, and handle any cyberattacks or data breaches that infiltrate your company. By being proactive with your business’ security, you can protect your company and devote your attention to its success.
Below, you can check out our five essential steps to secure your business and set it up for long-term growth.
How to Secure Your Business in 5 Easy Steps
1. Keep Digital Data Safe
The first step in securing your business is keeping your digital data safe. There are several levels to keeping it secure. Here are some of the protections that should be at the top of your priority list:
Require Strong Passwords
Start by requiring solid passwords when employees and users utilize your business software and programs. Although choosing more complex passwords may be inconvenient, it will be far worse if your employees or clients find their personal information has been jeopardized.
Have a Secure Method for Processing Business Payments
Make sure you have an online payment processor that is secure. The last thing you need is to put yourself, your clients, and your business at risk for data breaches caused by an unreliable payment processor. There are many different options available depending on your business size and the industry you’re in.
Restrict Employee Access to Sensitive Data
Unless there is an express need for your employees to have access to each other’s or client’s personal information, restricting access to this sensitive data is critical. There have been instances of employees accidentally transferring such personal information to third parties without obtaining authorization to do so, putting this sensitive data in jeopardy.
2. Implement Two-Step Verification
You might be shocked at the number of cyber attacks aimed at small businesses. One of the best ways you can protect your business is by implementing two-step verification.
Also known as two-factor authentication, you, your clients, and your employees will need to provide a second source of identifying information in addition to their existing password. This is typically done by sending users a text message or email with a code to verify their identity. This makes it more difficult for hackers to gain access to sensitive personal data.
3. Invest In a Security System
Now is also an excellent time to secure your business by investing in a top-of-the-line security system. You need an alarm system that can:
- Be activated by motion
- Provide 24/7 surveillance
- Retrieve footage and records of activity easily
Simply having a robust security system in place could deter criminals from theft, vandalism, robbery, burglary, and other offenses that could set your business back.
4. Implement a Social Media Policy
Information that winds up on the Internet is there forever. As you attempt to navigate the dangerous security concerns that come with social networking and email, it is essential to implement robust business solutions, including a social media policy. This information should include the following:
- What types of content are appropriate for your business social media pages
- What types of content and information are appropriate for business and work emails
- What types of content are allowable through employee work emails
- What types of information and content employees can post about the company on their personal social media networks or through email
If an employee winds up violating your social media policies, it could be devastating for your business. The best way you can protect your business in advance is by having these social media policies in place from the start.
5. Invest in Business Insurance
When you began building your business, you likely needed to dip into your savings and put a considerable amount of your own money towards start-up costs. For this reason, taking your security a step further by investing in business insurance should be one of your top priorities.
You need to have professional liability insurance in place in the event your business is accused of negligence, misconduct, or has a lawsuit brought against it. When you have professional liability insurance, you do not need to worry about being held personally accountable for the outcome of your case.
Professional liability insurance is not the only type of business insurance you might need. Other types you might consider investing in could include:
- Commercial property insurance
- Worker’s compensation insurance
- Cyber insurance
- Premises liability insurance
- Umbrella insurance
- Business interruption insurance
- Commercial auto insurance
- Product liability insurance
Takeaways
Securing your business should be a top priority for every business owner, no matter what vertical you operate in. By spending some time and money making sure your company is properly protected, you can eliminate problems before they happen.
