How to Create a Cyber Security Strategy

Did you know that 50% of UK businesses reported experiencing a cyber attack in 2023? That's right, half of the businesses out there are getting a digital slap in the face, and many don't even realise it until it's too late.

In fact, a digital slap in the face is too soft. These businesses are full on being hacked.

From sending emails to conducting transactions online, we are all practically inviting cyber criminals to our doorstep (I know, just by running our business, it’s a sorry state of the world). And no, your basic firewalls and antivirus software aren't going to cut it anymore. Cyber crime is like a bad sequel – it just keeps getting worse and more sophisticated. That's why having a cyber security strategy is no longer optional; it's essential.

What is a Cyber Security Strategy?

Think of it as your business's roadmap to digital safety. You've got a business development strategy, right? One that outlines how to grow and acquire new customers. Maybe even an IT strategy that shows how technology will help you achieve those goals. Well, a cyber security strategy is just as crucial. As your business grows, so does the cyber security risk. If your protections don't evolve, you're basically leaving the door wide open for cyber criminals.

Why Every Business Needs a Cyber Security Strategy

Every business, regardless of size or industry, needs a cyber security strategy. The details will differ depending on your company's size, industry, and the type of data you handle. For example, a small company with less than 250 employees might not need to keep records of its processing activities unless it involves sensitive data. But a legal firm handling client information? They're subject to GDPR laws and have to ensure that data is kept safe.

Before I even get to outlining the benefits (that's below), I'll cut to the chase - I can help you create a successful cyber security strategy for your business.

Top 10 Benefits of a Successful Cyber Security Strategy

1. Protection of Sensitive Data: Safeguard personal data, financial records, intellectual property, and proprietary business information from unauthorised access and breaches.
2. Business Continuity: Minimise downtime and ensure quick recovery in the event of an attack.
3. Regulatory Compliance: Stay compliant with industry-specific regulations as you grow.
4. Cost Savings: Avoid the crippling expenses of data breaches – proactive measures are more cost-effective.
5. Reputation Management: Show customers, partners, and stakeholders that you take data protection seriously.
6. Competitive Advantage: 84% of customers see a good data security track record as a key factor in deciding where to buy.
7. Risk Management: Identify and mitigate risks before they can be exploited.
8. Intellectual Property Protection: Prevent the theft of IP that could cripple your business.
9. Employee Productivity: Create a secure workplace where staff can focus on productivity without fear of disruption.
10. Improved Incident Response: Enable quick detection, response, and recovery from cyber incidents.

What Does a Business Need to Consider?

Successful cyber security strategies account for all aspects of business operations. This involves identifying potential risks and vulnerabilities and implementing measures to mitigate those risks. Here are some elements to consider:

• Policies: Set clear procedures for users, identify potential risks, and implement measures to mitigate those risks.
• Network Infrastructure: Ensure all devices are correctly configured and secured, with appropriate firewalls and intrusion detection/prevention systems in place.
• Wireless Networks: Secure your wireless networks with robust encryption methods and disable unnecessary features.
• Web Applications: Implement appropriate authentication methods and disable unused features to mitigate security threats.
• Employees: Train employees on best practices for email and social media use to protect the business from social engineering attacks.

Creating Your Cyber Security Strategy

I'll outline the step by step process to how to create a cyber security strategy. Know that, at any point you can contact myself and the AAG IT team for support.

1. Assess Current State: Conduct a thorough risk assessment to identify vulnerabilities and threats.
2. Define Objectives and Scope: Establish clear cyber security objectives aligned with business goals.
3. Develop Governance Framework: Ensure every employee understands their roles and responsibilities.
4. Identify and Prioritise Risks: Categorise and prioritise risks based on their potential impact on the business.
5. Implement Measures: Deploy technical measures like firewalls, intrusion detection systems, encryption, and access controls.
6. Develop Incident Response Plan: Establish clear procedures for reporting and responding to security incidents.
7. Implement Continuous Monitoring: Set up continuous monitoring of networks, systems, and applications.
8. Regularly Review and Update: Perform regular audits and assessments to ensure the strategy remains effective and relevant.

Why Do Cyber Security Strategies Fail?

No strategy can completely eliminate the risk of a cyber attack, but a successful one minimises the risk and ensures minimal damage and disruption. Signs that a strategy isn’t working include frequent security incidents, delayed detection and response, and a high number of unpatched vulnerabilities. The main reasons for failure are:

• Lack of Governance: Without clear objectives and accountability, it's challenging to create and implement an effective strategy.
• Lack of Resources: This includes funding for security tools and personnel, and a shortage of qualified staff.
• Lack of Training: Without proper training, employees may not follow best practices or respond appropriately to incidents.
• Lack of Integration: Poor integration between departments and systems can hinder information sharing and coordination.
• Lack of Expertise: Many businesses aren't aware of every risk, creating significant gaps in IT security.

Avoid Failure and Minimise Risks with AAG

A successful cyber security strategy is well-resourced and effectively integrated into a business. Doing this by yourself is difficult; there are many factors to consider, and missing one can have devastating consequences. That's why it's so important to have an IT partner with a deep understanding of the threat landscape. Our dedicated team combines the latest technology with extensive knowledge of cyber threats to create a strategy that protects your business today and in the future.

Drop me a message or contact my team today.