In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the CEO of Havoc Shield, Brian Fritton.
Havoc Shield believes security is a top competitive advantage when it comes to gaining customers. Brian started as a software engineer but ultimately became a cybersecurity expert. He shares that many businesses engage contractors for their cyber security needs, but the issues start when it comes to costs, not to mention the complexities of the foundational work. Getting serious about cybersecurity is essential, and many contractors are also booked up. Too many business owners are seeing the negative effects of bad cybersecurity, so this boom in investing in cybersecurity will only get more intense.
Doing cybersecurity internally is much more difficult than you might think, and hiring a third party expert to provide top notch protection is often your best bet, both time wise and financially over time. Brian shares that it’s always been important to him to protect others, and protecting other business owners and founders gives him purpose.
Brian and Josh also explore how to audit your cybersecurity measures. For one thing, your login credentials need to be truly secured. Those are your ‘keys to the kingdom’ and are extremely vulnerable. Brian says you MUST enable multi-factor authentication to secure your credentials. Use the app, not text messaging, when you use multi-factor authentication. Brian also explains that the human element also has to be considered; if your team members are sharing passwords or clicking suspicious links, the tech you invested in isn’t effective. Make the education about protecting your company’s security a learning moment, not a punishment. Humans can be used by thieves for attacks. Protect your team by teaching them all about this topic.
Josh also talks about how password security has changed. Brian shares that new technology is coming out that will eliminate the need for passwords using behavior based and hardware token based technologies that work together with your biometrics, behavior, and location. It will take years, though, for this to be commonplace. There’s been updated guidance on how passwords should be changed; what’s recommended is that your password is at least 12 characters long (mixing character case can’t hurt but isn’t as important), but your passwords MUST be unique to everything you use. You might be asking yourself how you could possibly remember it all. Brian explains that password managers are either free or extremely affordable and remember and autofill your passwords for you. There are ways to protect your business’s cybersecurity affordably, but look into all of your options and make sure to invest in better cybersecurity for the sake of your business.