Common Risk Assessment Myths That Every Business Owner Needs to Know
Written By: Kristopher Wyatt
Despite believing they were immune, a small law firm in Maryland fell victim to a ransomware attack. Similarly, an accounting firm in the Midwest lost all access to its client information, financial records and tax files. They assumed that antivirus software was all the security they needed to thwart a cyberattack.
In both incidents, the victims coincidently were small businesses and fell prey to sophisticated cyberattacks because of their flawed risk assessment practices.
Regarding IT risk assessments, business owners have several misconceptions that leave them vulnerable. This blog will uncover common cyber risk assessment myths and discuss the reality. We’ll also show you how to build an adequate risk assessment strategy by the end.
Misconceptions can hurt your business
Here are some common myths that all business owners must avoid:
Myth 1: We're too small to be a target.
Reality: Hackers often use automated tools to look for vulnerabilities in a system, and small businesses invariably suffer as they lack the resources to build a strong cybersecurity posture.
Myth 2: Risk assessments are too expensive.
Reality: When you factor in the actual business loss due to a cyberattack, investing in proactive cybersecurity makes for a wise business decision. Proactive security practices protect your money and save you from costly lawsuits and reputational damage.
Myth 3: We have antivirus software, so we're protected.
Reality: You can’t rely only on antivirus software to protect your IT infrastructure. Cybercriminals today have become highly skilled and can effortlessly deploy advanced threats. To secure your business, you must have a comprehensive risk assessment strategy. A multi-layered security approach will protect your business and lay the foundation for your long-term business growth.
Myth 4: Risk assessments are a one-time event
Reality: Today's businesses operate in a threat landscape that is constantly evolving. Without regular risk assessments, you won’t be able to build a strong cybersecurity posture. New vulnerabilities can creep in without regular risk scans and leave your business vulnerable to cyber threats.
Myth 5: We can handle risk assessment ourselves
Reality: Businesses often rely on internal resources to maintain cybersecurity. However, joining forces with an IT service provider can be a game changer for your business. An experienced service provider has the expertise, resources, and advanced tools to conduct practical assessments. They also have the latest knowledge of emerging threats and vulnerabilities so that they can protect your business better than anybody else.
Why you need an IT service provider
Teaming up with an experienced IT service provider can help you:
Access accurate and up-to-date information on risk assessments without getting sidetracked by misconceptions.
Conduct thorough assessments to identify weaknesses in your IT systems and resolve them before they can pose any threat.
Implement a robust security strategy that can help protect your business from a wide range of threats.
Ensure your business has a fighting chance against evolving threats so you can focus on building your business instead of worrying about cybersecurity.
Partner for success
Are you finding it a challenge to manage your IT risks alone? Cyber threats always lurk; you could be the next victim with one mistake. Cyber incidents can slam the breaks on your growth. That’s why you need an experienced team of IT experts to help you build a resilient cybersecurity posture. Consider teaming up with an IT service provider like us. We have a team of experts and advanced tools to help you quickly navigate the complexities of cybersecurity.
Ozark Technology is a Business Technology Provider that helps organizations across the country rethink the value technology brings to their business. Want to partner with us? Let’s chat.
