Small Changes that Can Help Protect Your Business

CC0 Licensed Image Courtesy of Pexels

With so many threats in the world today, you need to protect your business and the people who help make it what it is. Staying in business is getting harder all the time, and current economic conditions don’t make it easier. From efficiency to emergency funds, here are some ideas.

Have a Disaster Backup Plan

One of the biggest threats to a modern business is data loss. Pretty much every company today contains masses of data. Data comes in various forms, including sensitive and personal data. Losing either can be a disaster in and of itself. Only an IT disaster recovery plan can save you from the potentially damaging consequences of data loss to which your company can be exposed. Backups, offsite storage, and cloud backups are standard methods of cybersecurity.

Save Time through Efficiency

Operational costs must be accounted for, and these only increase when a business uses outdated processes. From the ground up, a modern company must assess itself from within and without on a regular basis. This includes internal audits and external assessments from outside agencies. This helps improve processes, increase productivity, and meet compliance standards. All will help keep your company running like a well-oiled machine, as time is money!

Protect Your Business Intellectual Property

Developing a process, product, or original work falls under copyright, trademark, and intellectual property laws. Many companies find themselves in bitter disputes over IP and such, with long court battles that cost a lot of money. In the US alone, there are over 12,000 IP cases per year. Some notable cases include Apple vs. Samsung over smartphone icons. On the flip side your company must also be careful about using AI tools as they can infringe through content creation.

Save Money for Unexpected Instances

Like a disaster recovery plan for data, a natural disaster or world event (such as COVID) can have a substantial negative impact on a business. Because of this, you may want to set aside funds to get through a tough time for companies in your sector. Insurance can help but might be limited. So, having extra funds to lean on can mean the difference between disaster and a positive outcome. For example, being able to pay your staff during a business downturn.

Embrace Emerging Technologies

It always helps when a company embraces new technology because you can bet that the competition will. When new technologies, such as AI, emerge as ubiquitous tools within a given sector, a business can only compete by using them at all necessary levels. Where would a 1980s business be without embracing computers, as we moved into the 90s and the web? A fear of technology at the decision level will stifle business rather than helping it to grow.

Summary

A disaster backup plan for data is one of the most powerful ways to protect your business from modern threats. However, business protection goes deeper than this. IP and copyright must also be protected at all costs. Using new technology to your advantage helps with the competition.