How to Start a Cybersecurity Business
Companies are desperate to protect their data, making the cybersecurity business one of the most profitable businesses. But how can you start one?
According to IBM, the average total cost of a data breach in 2020 was around $3.86 million. Indeed, a data breach causes serious financial consequences to the point it knocks some companies out of business. Moreover, falling victim to cybercrimes can really hurt your brand reputation.
This is why there is a huge demand for cybersecurity services. Large companies have the money to hire professionals to protect your data. But how can small and medium businesses with limited resources afford cybersecurity? This is where your cybersecurity expertise comes in.
By building a cybersecurity business, you can protect these smaller enterprises from digital threats. However, there are steps you must take first to get your cybersecurity business off the ground.
Get the right professional certifications
These certifications give clients reasons to trust you. The last thing they want is to hire incompetent people. Thus, having a bachelor’s degree in computer science or a related field is a good start.
Yet, degrees alone won’t seal the deal. You’ll also need certifications to prove you have what it takes to help clients with their security needs. A few examples of the most popular certifications are the CEH, GSEC, and CISSP.
Develop a business plan tailored to cybersecurity
The U.S. Small Business Administration (SBA) provides useful guidelines on what you should include in your business plan:
- An executive summary that summarizes what your business is and why it will be successful
- A detailed description of your company
- Competitive market analysis that defines your target market and identifies your competitors
- Business’ legal structure
- Product or service offerings
- Budget plan
- Marketing strategy
- Financial projections of when your company will reach profitability
Let’s take a deeper dive into some of the key components written above.
Market your services
Your business can’t survive without customers. Your marketing strategy can either attract or repel customers. Consider partnering with marketing experts. Their expertise will help you launch your offerings. Furthermore, they may give advice if you’re not interested in doing the work personally.
Moreover, start with the basics before going any further. A well-designed website is a crucial part of marketing. Your web presence is arguably your biggest marketing asset. Furthermore, pick the right domain name, do SEO, make the user interface engaging, and more.
Social media is another powerful tool to market your services. Leverage its power by promoting your cybersecurity business and sharing industry news and posts. Moreover, if you have the budget, consider hiring a content consultant to help you write a blog.
However, you should not neglect offline marketing. Networking is a crucial tool to strengthen your brand presence. You’ll typically find potential business partners and clients in cybersecurity conferences.
Hire quality employees
Congratulations on growing your company enough to hire employees! Like customers, employees are the driving force of success. Conduct thorough interviews and background checks on potential employees. Of course, make sure you are complying with laws when doing such reviews.
