Cybersecurity Basics: Essential Business Strategies

Cybersecurity is a pervasive concern, and the risks of not having strategic defenses in place are more significant than ever:

66% of organizations were hit by a ransomware attack in 2023 (Netgate).
94% of businesses experienced email security incidents in 2023 (VENZA).
87% of small businesses have sensitive customer data at risk of being compromised in a cyberattack (strongdm).
75% of small businesses would be unable to continue operations if they suffered a ransomware attack (strongdm).

The growing prevalence of cyberattacks highlights that businesses are vulnerable, regardless of size or industry. That said, it’s easy to feel overwhelmed by the complexity and significance of protecting your organization. However, it’s helpful to go back to the basics to understand what reinforcing the foundation of your security measures looks like and to empower your staff to recognize threats, respond quickly, and reduce your overall risk.

Whether you’re starting from scratch or looking to refresh your cybersecurity knowledge, there’s never a bad time to review cybersecurity basics and take proactive steps toward protecting your business’ assets and reputation.

Understanding the Foundations of Cybersecurity

What is Cybersecurity?

Cybersecurity is the practice of protecting digital systems, networks, and data from digital attacks. It is a necessity for businesses of all sizes due to the rapid rise of cyber threats and skilled threat actors (people trying to harm your organization) finding new ways to access your systems and data.

Increasingly, businesses are allocating additional resources to strengthen their cybersecurity strategies. A significant indicator of this trend is the growth in global cybersecurity spending, which reached approximately $80 billion in 2023 and is projected to surpass $87 billion in 2024 (Statista).

While cybersecurity is more important than ever, it is only one part of a broader security framework. To fully understand your organization’s scope of protection and security priorities, differentiating between information security, cybersecurity, and network security can provide clarity.

Information security focuses on safeguarding data in all forms (digital and physical).
Cybersecurity falls under the umbrella of information security, focusing purely on digital or cyber threats and risks.
Network security is a subset of cybersecurity specific to securing your networks through firewalls, Virtual Private Networks (VPNs), and network access controls.

Defining Key Cybersecurity Concepts

The CIA Triad represents the balance between protecting information and safely accessing it. You can take secret information and lock it in a vault far away, but what good is that when you need to quickly access it during an emergency?
- Confidentiality ensures that sensitive information is only accessible to authorized users.
- Integrity protects data from being altered or tampered with.
- Availability ensures that systems and data are accessible when needed.
Threats are potential dangers that can damage your business. Examples include malware, phishing, ransomware, Distributed denial of service (DDoS) attacks, and insider threats.
Vulnerabilities are weak points in your digital security that threat actors can exploit. Examples include weak passwords, unpatched software, and outdated operating systems.
Risk is the likelihood of a threat actor exploiting a vulnerability and its potential impact. For example, a weak password can result in password theft. Phishing emails can result in malware or ransomware attacks.
Consequences are the actual damages incurred from cybersecurity attacks or data breaches. Examples include financial losses, data loss, reputational damage, and disruption of service/business operations.

Types of Cybersecurity Threats

Malware is software that is specifically designed to disrupt, damage, or gain unauthorized access to a computer system.
Phishing is the fraudulent practice of sending emails or other messages purporting to be from reputable companies to induce individuals to reveal personal information, such as passwords and credit card numbers.
Ransomware is a type of malicious software designed to block access to a computer system until a sum of money is paid.
Distributed Denial of Service (DDoS) attack is when a perpetrator seeks to make a machine or network resource unavailable to its intended users by temporarily disrupting the services of a host connected to a network. For example, a DDoS attack could flood your website with excessive traffic, causing it to crash and prevent clients from accessing your services.
Insider Threats are employees or others with authorized access (like contractors or third-party vendors) who use their access—intentionally or unintentionally—to do harm to a business.

Emerging Cybersecurity Threats

Knowledge is power. Staying up to date on the latest cybersecurity threats ensures your business remains proactive and protected, even amidst constant changes.

AI-driven attacks are cyber threats that leverage or use AI to carry out malicious activities. These are particularly tough to mitigate because AI has the ability to generate malware that could evade detection by current security filters.
Supply chain vulnerabilities are weaknesses within your network of supplies, vendors, processes, and infrastructure that can be exploited, resulting in service disruptions.
Zero-day exploits are a cyberattack vector that takes advantage of a previously unknown or unaddressed security flaw. The term “zero day” refers to the fact that once the vulnerability is disclosed, the vendor has zero days to fix the flaw before the attacker can use it to their advantage.

Essential Components of a Robust Cybersecurity Strategy

A robust cybersecurity strategy provides comprehensive protection, going beyond a single security measure to safeguard all systems and information. It ensures protection at all levels of your organization. Together, these areas holistically protect your business from potential and active threats.

Risk Assessment and Management: Start with a security risk assessment to identify your critical assets, threats, and vulnerabilities. Prioritize areas that need the most protection and use this information to shape your strategy. Since risk management is an ongoing process, performing regular audits and updates ensures your company can adapt to new risks and maintain security.
Network Security: Protect your network with tools like firewalls, SIEM and SOC, Virtual Private Networks (VPNs), segmentation, and zero trust architecture. Network segmentation prevents a single device from accessing everything on the network, therefore mitigating the spread of threats and preventing systemwide breaches.
Endpoint Security: Protect every device or endpoint connected to your network. This includes everything from phones to laptops. Securing endpoints with anti-malware tools, multi-factor authentication (MFA), patch management, and endpoint detection and response (EDR) reduces risk and prevents compromised devices from spreading threats across your network and systems.
Data Protection and Encryption: Protect the critical information stored on your devices and shared across your network through data security and encryption. On a micro-level, encryption works by scrambling your data so that it can only be decrypted or “read” with an encryption key. Therefore, your sensitive data doesn’t fall into unauthorized hands and is rendered inaccessible and useless.

Building a Human-Centric Cybersecurity Culture

A recent study by CompTIA noted that “human error accounts for 52 percent of security breaches” today. Whether an employee is actively trying to harm your organization or just made a mistake, insider threats can have detrimental consequences for your business. You can significantly reduce this risk by investing in security awareness training and developing a robust workplace security culture.

Cybersecurity Awareness Training focuses on educating your employees on common cyber threats and how to prevent and respond to them effectively. Important areas to cover are how to spot phishing emails, using strong passwords, and using secure network connections.
Building a Culture of Cybersecurity Awareness is a collaborative effort (of the entire organization) to help each other stay accountable and avoid common pitfalls. This community-oriented and strategic approach to cybersecurity awareness helps everyone mitigate negligence and insider malice. You can cultivate a culture of security through executive endorsement, tailored training programs, and ongoing reinforcement or refresher courses that address emerging threats.

Incident Response and Recovery

Incident Response Plans (IRPs) and Disaster Recovery Plans (DRPs) work together to protect your organization by preparing you to respond efficiently to cybersecurity incidents and broader disasters.

Incident Response Plans (IRPs) outline how your organization detects, responds to, mitigates, and recovers from malicious cybersecurity incidents. These plans cover specific threats like phishing, malware, and ransomware attacks. Providing a detailed IRP for your team helps them be prepared and reduces downtime in the face of an incident.
Disaster Recovery Plans (DRPs) refer to the processes and practices used to prevent data loss and mitigate business disruption caused by natural disasters or emergency events (including cybersecurity incidents).

Ongoing Risk Management: Compliance and Regulation

Compliance and regulatory standards are always changing; however, striving to meet them provides more than just protection and peace of mind. With proper support, adhering to these standards can foster business growth through enhanced reputation and stronger client relationships.

Becoming Compliant: The first step to becoming compliant is understanding which regulations apply to your specific industry. For example, healthcare organizations must follow HIPAA regulations to ensure patient data privacy, finance companies adhere to PCI DSS and FINRA to safeguard financial transactions, and pharmaceuticals comply with FDA and GxP standards to maintain drug safety and data integrity.
Staying Compliant: Since regulations are always evolving, it’s critical to stay updated so your business remains compliant (and protected). Worried about falling behind? No worries; third parties can conduct timely regulatory audits for you—removing the burden so you can focus on day-to-day business needs.
Aligning Cybersecurity Compliance with Business Goals: Your cybersecurity strategy and compliance can do so much more than keep you safe—it can support your business growth. Maintaining compliance and meeting regulatory standards demonstrates your commitment to protecting the sensitive information of clients and business partners, giving them peace of mind and added confidence in your ability to operate securely and responsibly. As a result, this can improve your reputation, foster trust, encourage new business opportunities, and reduce insurance premiums.

Strengthen your Cybersecurity Strategy with IT Solutions

For many business leaders, understanding the basics of cybersecurity can feel overwhelming. Thankfully, you don’t have to manage this alone. At IT Solutions, we meet you wherever you are in your cybersecurity journey—whether that’s starting from scratch or strengthening your existing strategy. We’re here to make sure all your cybersecurity basics and bases are covered. Contact us today to get started.