While cybersecurity might seem daunting and time-consuming, the value  of knowing how to safeguard your infant company from the outset cannot be underestimated. 

If anything, establishing a robust and cohesive cybersecurity strategy should be the first item on your to-do list as a startup, particularly if you handle sensitive client information. The financial and reputational damage that a cyber attack might cause a startup business could spell disaster in the early stages. 

What is a cybersecurity strategy?

Cybersecurity strategies are detailed plans for implementing the security of users, data, information, devices and systems across a business.

Cyber threats and attacks are fast-evolving and becoming more sophisticated with many threat vectors proving increasingly difficult to detect and contain. With this in mind, it’s advisable for businesses to have what’s known as a ‘multi-layered’ security strategy, meaning that there are separate policies, processes and strategies for devices, networks, infrastructure, applications, and so on. 

Why are cybersecurity strategies important?

There are numerous benefits to creating and implementing a layered cyber strategy for a startup business. It can do the following:

• Align security requirements with the broader business plan, ensuring that the business is well-equipped at every stage of its growth.
• Provide a detailed, long-term plan for how the company plans to protect itself, its staff and its customers.
• Enable the startup to move from a reactive strategy to a proactive strategy.
• Demonstrate accountability, commitment and compliance with relevant regulations or legislation (for example, GDPR and PCI DSS).
• Provide peace of mind and develop trust for current and future clients of the business that data will be handled securely.
• Document exactly what each person’s responsibility is in handling data and information, as well as how that will be used going forward. 
• Establish a culture of security within the organisation, educating more people about the real-world dangers of cyber attacks and applying safe practices inside (and outside) the business.

11 cybersecurity steps to implement

Cybercriminals can access company computers and data through malware, malicious software designed to infect computers and provide easier access for hackers to infiltrate them and take advantage of any vulnerabilities to commit fraud or steal data. 

While the simple solution would be to use professional, reliable antivirus software, sadly, this is simply not enough in this day and age. While this software can usually detect malware, cyber attacks are incredibly more sophisticated and can occur even with adequate antivirus and malware protection. Sadly, many companies are vastly underprepared, according to the 2022 Cybersecurity Consensus Report.

Any startup ought to consider the following 11 steps when establishing a cybersecurity strategy.

1. Identify your risks and assets

The first and most important step is understanding what you need to protect (your assets) and what you need to defend them from (the risks). 

Each business’ assets will be different from the next and have varying security requirements. It’s important to consider where these assets are stored, whether in the cloud, on private servers, within databases, project management systems and so on. These assets will have specific risks based on their environment, so it’s important to make sure that each one is sufficiently protected.

2. Invest in professional cybersecurity software

Many reliable security software solutions help companies discover the more sophisticated malware or ransomware attacks and what they look like. 

Sadly, free antivirus, firewall and spam filtering solutions won’t have all the relevant and required intuitive security features that you need to keep your business and customer data secure. Don’t cut corners regarding security software across your network and organisation.

3. Secure your WiFi network(s)

If you have a WiFi network for your office, make sure it has a wireless access point and SSID so it won’t be publicly available. You should also encrypt the network so users must enter a password to access the network. This can also be done if you plan to use VPN connectivity for employees that work remotely. 

4. Use a reliable internet security suite and firewall

Most antivirus solutions have built-in, integrated firewalls and internet security features. This can help to prevent malicious software from being downloaded via the internet, as well as stop MITM (Man-in-the-Middle) and phishing attacks from taking place. You can configure what you want the firewall and internet security program to detect and alert for any of your company equipment and apply this across all devices that use your network too.

5. Use HTTPS with SSL encryption

A secure internet connection between the browser and the client server is possible via SSL (Secure Sockets Layer) which prevents hackers from accessing HTTP requests. Instead, HTTPS requests are concealed from cybercriminals, making them almost impossible to intercept.  

SSL encryption is a must for any company website, confirming that the business protects and safeguards customer data and information. There’s also increasing evidence to suggest that most online customers do not purchase from websites without a valid SSL certificate. 

6. Establish strong, complex passwords and MFA procedures

Passwords are some of the easiest assets for cybercriminals to use when attempting to access systems and data. Creating strong, unique and complicated passwords (e.g. a combination of numbers, letters and special characters) is the bare minimum to ensure sufficient protection of personal devices and shared files and information. 

Another technique to secure passwords and access is to validate users via two-factor or multi-factor authentication. This verifies an individual’s identity (usually via email, but also device prompts or biometrics) before access is granted after a username and password have been entered. 

7. Set up secure cloud storage

Cloud-based storage adds another layer of security protection. This starts by choosing an efficient cloud storage provider that may be able to offer private, public or even hybrid cloud storage solutions, and even cloud web hosting.

Cloud storage can be an efficient mechanism for accessing shared files in a secure account, with some providers offering higher levels of security and storage space than physical private servers. This is worth considering if you want to preserve space. 

8. Maintain multiple secure backups

It’s highly recommended to back all your data and files up safely within your chosen cloud storage solution. The most reputable providers will take precautions to ensure optimum server runtime and relevant precautions to take to ensure data safety. 

However, you can also back up all data to a secure local server too, protecting it with restrictions as you see fit, such as user permissions. You can also encrypt this data if you wish. If you want to take additional security steps, you can also invest in disaster recovery services to get access to your data - from the time it was last backed up - if your security is breached.

9. Keep everything patched 

It’s crucial to keep all your protection software up to date by downloading and installing recommended security patches, bug fixes and updates. 

Using an updated, patched business-class corporate antivirus program can track down recent malware and ransomware attacks to safeguard users’ devices, company networks and customer data.

10. Invest in regular employee training

Without being too hyperbolic, your employees are a cybercriminal’s primary target. Social engineering tactics like phishing target people via email and the internet, which your employees are likely using every day. 

It’s therefore crucial that your team understands the fundamental practices to keep themselves and company assets safe and therefore, not prove an easy cybercrime target. 

Providing regular, structured training can help employees understand what constitutes a modern cyber attack, the dangers and protection techniques that they can implement to safeguard data. This can ultimately foster a culture of safety across the company. 

11. Monitor all potential risks on an ongoing basis

Cybersecurity strategies must be constantly reviewed, updated and revised to address changing business needs along with the evolving cybersecurity landscape. Therefore, the company should take additional care to monitor all of its assets regularly and implement measures for employees to take should there be concerns. It should also monitor its cybersecurity status to ensure it remains compliant. 

Many small businesses can never recover from a cyber attack. Startups have numerous responsibilities to balance, so, understandably, cybersecurity may not be high on every founder’s priority list. However, making a mistake might prove too costly, financially speaking, and also in terms of their reputation. Building a strong cybersecurity strategy will be worth the additional time, effort and resources in the long run and prevent significant damaging losses.