The Silent Threat that can Sink You Overnight

Shark Underwater

As business owners we often keep our focus on growth and other opportunities but overlook a silent threat underneath the surface. One that can unravel years of hard work in the blink of an eye.

Let me tell you a true story.

I was once a subscriber to Stratfor, a renowned global intelligence company. Stratfor was at its peak, providing invaluable insights that businesses and investors heavily relied on.

Then like a flash in the pan they were gone.

Their multi-year journey where they became the global resource of choice for many took a sudden and unexpected turn.

They got attacked by hackers who breached Stratfor’s supposedly secure digital fortress, leaking sensitive information and shaking the trust of subscribers and stakeholders alike.

The fallout was immediate and devastating. Subscriptions plummeted, credibility was questioned, and the financial losses were significant.

This wasn’t just a temporary setback; it effectively killed them and highlighted the crucial importance of mitigating risk and overall risk management.

This incident serves as a stark reminder that operational risks, particularly cybersecurity threats, are not just IT issues—they are business-critical challenges that demand our attention and action.

They are like the deadly U-boats in the Atlantic during World War 2 that sank ships and killed thousands – hidden and silent until too late.

So, how do we safeguard our businesses against such existential threats? It starts with acknowledging and mitigating the risks facing our business – operational like this cyberattack, financial and market.

I invite you to reflect on the vulnerabilities and perceived risks in your own business. Can you show that you are aware and are taking steps to mitigate them?

You can’t eliminate risk but if potential investors see you have a handle on risk management it goes a long way to making you look professional and credible – and someone they want to do business with.

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