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Entrepreneurship in the New Normal: 5 Security Considerations for Home-Based Businesses

  • Written by Lilly Miller

Our expectations and our hopes have changed to a great extent since the beginning of the pandemic. We might have initially hoped to return to the old idea of normal – office-based work, the same level of financial security, prosperous client relationships, and regular conferences and travel. Today, as we rapidly approach 2022, our expectations have changed.

With 2021 almost at its end, we now understand that working from home will remain, not a temporary, but a long-term solution. That, however, will by no means deter professionals from chasing their dreams and starting their own ventures remotely. What’s necessary to make this transition more seamless and to allow for professional growth in the new normal is an increased focus on security for your home business.

This somewhat abstract notion needs very concrete steps to prevent security breaches while you handle client’s information and work hard at building your business from home. Here are a few core security considerations to take into account in the new normal.

Exploring online safely from home

One core element of home-based cybersecurity for your professional endeavors includes network security. No VPN means exposing your location and visiting websites that aren’t considered secure can lead to malware and ransomware attacks. Entrepreneurs and small business owners often feel like they are not a viable target simply because of the size of the business.

In reality, an attack can cost as much as $2.5 million, without accounting for the damage to your reputation should a data leak occur. In the new normal, with greater focus on security, network security will become one of the main goals for entrepreneurs to ensure the trust of their customers, authority in their industry, and overall safe practices from home.

Protecting the tools of the trade

The pandemic has become a lesson to all of humanity: the sense of security so many of us foster is nothing more than an illusion. So many companies have closed due to the economic collapse caused by the pandemic, and many more due to the simple lack of demand that swooped in like a storm. Taking precautions is the only way to increase our sense of security and to protect our investments and our assets.

One form of prevention that will prevail in the new normal is investing in insurance. It’s a mindset shift caused by the pandemic, teaching us to be more mindful of all potential threats and risks. Running a home-based business, then, will require the best home insurance available to protect your equipment and your workspace. Coverage in case of a flood, burglary, fire, or any other eventuality will help entrepreneurs safeguard their business in the face of uncertainty.

The infrastructure of security

Much like a large-scale organization invests time and funds into building a culture based on security, the entrepreneur wanting to set up their presence in 2022 will need to embrace this corporate-like mindset. The entrepreneur of the new normal will need to wear many hats to be able to build up a reputation and earn the trust of their clients and customers. To achieve that, security needs to be more than the occasional task on your to-do list.

Even though a typical entrepreneur’s infrastructure at home consists of nothing more than two or three devices such as a laptop and a smartphone, software is the dam that keeps the flood of security threats at bay.

Knowing that 60% of all breaches in 2020 occurred due to vulnerabilities that could have been resolved with patches and updates should inspire entrepreneurs in 2022 to treat regular software updates as a matter of professional hygiene.

Handling information with care

Security is an evolving notion, and it requires solutions that are scalable and adaptable. In recent years, more entrepreneurs are switching to cloud-based storage solutions in order to leverage the technology and its built-in security and compliance.

The cloud is a great option for remote collaboration, especially for creative business models, and different tiers are meant to satisfy businesses with the desire to grow. However, despite the promising security features of the most prominent cloud providers, entrepreneurs will need their own backup options to store copies of the most crucial business data.

Choose your software wisely

The notion that more is better certainly doesn’t apply to cybersecurity and your business safety. In fact, less can mean more when you are able to choose fewer but smarter security tools that will protect your data and your communications. If you have so far relied on your employer’s security precautions, and you are new to entrepreneurship, you might feel eager to invest in a dozen different malware and virus protection tools and solutions.

Although admirable, this might lead to more chaos than control. Now more than ever, with so many providers available, entrepreneurs will have to make properly-informed decisions to find security tools that match their specific needs. Depending on your business model and complexity, your interactions, and the sensitivity of data you handle, your security might benefit from a single comprehensive tool rather than a dozen or more up your sleeve.

Wrapping up

While the pandemic combined with overwhelming digitization of a wide range of industries will certainly lead to more automation and greater reliance on software – the human element remains the key piece of the security puzzle. As an entrepreneur working from home, you will be your security plan’s greatest asset and weakest link at the same time. By investing in preventative measures, risk reduction, and disaster control, you’ll create a secure foundation for running a home-based business once the pandemic ends.

 

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