Download PDF Going Out of Business by Design: Why Seventy Percent of Small Businesses Fail

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Given that the single greatest cyber risk is social engineering, which is basically using people to voluntarily but unknowingly allow an attack to occur, it's critical that you put every employee through a bootcamp on how to avoid and recognize cyber threats. This can be as innocuous as a bogus spear-phishing email, which is what compromised and provided access to Hillary Clinton's campaign chairman John Podesta's Gmail account during the last election cycle. And email has become the overwhelming weapon of choice for attackers. Or it may be a bit more nefarious, such as using a personal relationship with someone to gain access to sensitive data.

You may laugh at this and say, "Not in my company, we're much too vigilant. So, ask these questions: How often do you train your employees on the threat of cyber risk and basic ways to avoid it? Even something as simple as better adherence to better password protocols is enough to avoid the vast majority of cyberattacks.

On average we each get one email containing malware each day! Have you trained your employees on the risks of email threats? Third, and this is the most important and yet least utilized defense, conducting simulations of a cyberattack, or cybersims.

What Percentage Of Small Businesses Fail -- And How Can You Avoid Being One Of Them?

This might be as simple as periodically sending out phishing emails to employees to see who actually clicks on a bogus link or opens an attached zip file, or setting up internal hackers who will try to break into your systems as an attacker might. There are many sophisticated ways to do this but pretty much anything that gives you an opportunity to expose vulnerabilities and to then have the opportunity to respond will give you an edge and the ability to learn how to deal with an attack while it is going on.

For example, last week I attended, and keynoted at the awards ceremony for one of the most sophisticated and realistic cyber war games scenarios I've seen. The games were part of a five-year effort undertaken by Symantec to increase the visibility of cyberthreats.

Why Most Entrepreneurs Fail

They involved over people from around the globe who were tasked with a series of cyber challenges culminating in a five day marathon where finalists had to hack into a self driving vehicles, the irrigation systems of a farm, and the seed store of a nation state. The event actually had working prototypes of each systems being hacked on site.

If you hacked the irrigation system in a glass case housing corn stalks would turn on until it drowned the plants.

SMBs + Digital Marketing: Did You Know…

In past years the games have included hospital room set ups complete with a simulated patient, and a scaled down version of a field of oil tanks which would even explode when hacked. Your simulations do not need to be anywhere near as sophisticated but their purpose should be the same, to give people a visceral experience that actually creates the sort of anxiety, chaos, and damage of a real attack. Don't discount this. Simulations have a profound effect on how we think about a problem. The advances that occurred in flight simulators gave pilots the ability to work under scenarios that were nearly impossible to experience in anything but the real thing.

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That same effect applies to pretty much any simulation. A business plan is your ultimate planning tool and safeguards against business failure. When you work through it, you'll do the market research you need to do and find out whether or not there is a market for your product. Need a business plan template? A business plan outline will lead you through the process.

Before starting a small business, you need to figure out how much money you need to live and how much money is needed to run your business. You can't ignore the money and just assume that somehow enough of it will come in each month. Nor can you ignore your bills. Within six months she was behind on her retail rent. Within another six, her business had gone under.

This is the part that's about you and you have to get it right or your small business is doomed. Too many people leap into selling their product or service without even considering the answer to this basic question. One small business owner decided to start a business selling cut flowers. She had the property and the garden for it already. She had even lined up distribution for her bouquets. Her business lasted three months - because she discovered that there was just no money in it.

But Joe and Tammy are of retirement age and don't have the energy or desire to continue with the business or do what needs to be done to grow it on.

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Add to cart. Be the first to write a review About this product. About this product Product Information Bad business design is plentiful in small businesses. In it can lie an entrepreneur's demise. Amidst the considerable emotion that burbles within every business owner lies formidable powers for good or bad.

What is the Small Business Failure Rate?

Business owners need to make sure their mountain moving passions are headed to end zones and not danger zones. Going Out of Business By Design can serve as owners' reference manual to keep them for becoming a failure statistic. Book jacket. Additional Product Features Publication Year. Show More Show Less. Any Condition Any Condition.