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Want to Protect Your Business Data? Approach Security From a Hacker's Perspective

Posted: 27 Feb 2019 08:00 AM PST

Unfortunately, many security teams approach the problem the other way around. Instead of seeing their attack surfaces through a hacker's lens to fortify their weaknesses proactively, they invest in reactive strategies. These investments take an outdated inside-out approach to security, leaving a massive gap in an organization's defenses. This gap, which hackers these days are exploiting on a daily basis, leads not only to grave damages but also a prevailing lack of confidence in the tools employed by these security teams.

To better interact with customers and employees, most organizations are growing in digital channels, creating a complex attack surface that spans from the traditional network all the way across the entire internet. Traditional security programs fail to address a new wave of digital threats that target this attack surface, all the internet facing websites, mobile apps, social media profiles, servers, and third-party components running on these assets.

Without an evolving, comprehensive security strategy that accounts for internet-facing assets usually neglected by firewalled security programs, mistakes and missed opportunities are inevitable.  

Take an Attacker's Eye View of Your Vulnerabilities

Whenever skilled attackers decide to attack a network, the first phase is normally reconnaissance. They either scan a network looking for vulnerabilities or do penetration testing by hand, trying to get an inside look at individual systems that can be easily attacked or exploited.

By using tools that mirror your organization's digital landscape and give you a hacker-eye view, you can begin shoring up the most vulnerable areas of your attack surface.

To make the most of these types of resources, you need people within your organization who understand how to leverage these platforms efficiently. If no one on your team is in a position to do that right now, it's worth investing in the necessary training to bring your analysts up to speed. Depending on your current team's capabilities, you may need to recruit additional specialists who understand the changing threat landscape and know which tools to apply to your unique security risks. 

Finding the Right Experts for Your Company

These issues are hot button topics and feature prominently among researchers' presentations and articles. In addition to cultivating a team of analysts who have a unique knowledge of cyber risks, they should also have a deep understanding of the organization's industry and economic sectors. Broad spectrum cybersecurity is important, but it's the deep industry expertise that will give your company an edge over malicious actors.

Once you have the right team in place, those experts can begin assessing your network as a hacker would. They can then determine which tools are most relevant to your organization's security risks. 

Choosing the Right Security Solution

Finding the right tools for your security strategy ultimately comes down to your company's unique risks and priorities. But there are some general guidelines that will set you on the right track.

Ideally, the platform you choose will be able to discover all internet-facing sites, devices, IPs, hosting providers, service providers and affiliates connected to the organization, as well as websites and social media references and mentions. Meet with several different companies to gauge their offerings and the level of training and support before deciding on one. Although it can take some time to identify the right vendor, know that there are solutions that will support your company's goals.

Once you find the appropriate platform, your team will be able to get ahead of hackers by seeing what they see. This gives them unique insights into the network they've been tasked with defending, and it gives them the advantage of cutting off threat actors before they can launch an attack.

7 Secrets to Becoming a Great Presenter

Posted: 27 Feb 2019 07:00 AM PST

Some people are naturally great presenters. They're charismatic, clear, convincing. I can think of a few off the top of my head -- Bill Clinton, Martin Luther King Jr., and of course, in the tech world, Steve Jobs. 

But not everyone is a born storyteller, and not everyone is born a captivating speaker. The good news? Both can be improved.

Here are some tips to up your presentation game:

1. Nail your story.

Your presentation is not about you; it's your story. Oonce your story has structure and focus, your presentation style will improve significantly. Make sure the story is structured, tight and in the right flow. Make sure it's pointed at the right target audience and addressing the things they want to hear.

2. Don't improvise. 

Even actors have a script. When my clients try to improvise what they're going to say on each slide, they usually end up repeating everything about three times. It's very hard to know what to say in the moment, especially when it's high-stakes like an investor pitch meeting or a competition.

When working with clients preparing a pitch or presentation, we actually script out the story in the speaker's notes on each slide and get super clear on what needs to be said. When you're not reaching for words, your mumbling and nerves will improve dramatically.

3. Don't memorize, either.

This might sound contradictory to the previous clause, where I say to script it all out. Script yes, but don't memorize the script – use it as a guideline. If you do try to memorize and suddenly forget a word – it can throw you off track, leading to a complete black out especially if you're on stage.

You should read and reread the script so many times that you are so familiar with it that it's practically memorized, but not. Then the fun starts - you can play with it, and make it  seem like you're simply making it up on the spot. It sounds funny but it's true - try it and see for yourself

4. Be (the best version of) yourself.

When we attempt to be someone we're not, we set ourselves up to fail. Instead, try to be your most authentic self, with a good dollop of passion and animation.

Try this exercise: Record yourself pitching in your regular way. Now, think about something that gets you excited you – a sporting event, traveling to a new destination, dancing, skydiving, etc. Take a moment to imagine yourself doing that thing you love. Now record yourself describing what it's like to someone who's never done it. Get them excited about it! How do you talk when you are passionate and excited about something?

Now launch straight into your pitch, while still keeping that feeling of excitement, and record it. Now watch all three recordings. Is your pitch more animated in the third recording? If it still can use some more oomph, try it another few times until you get the right level of authentic animation. Remember what it feels like to be at that level of excitement. 

5. Watch your filler words. 

Often presenters will use a filler word like "um, like, OK, right." It gets used at the end of sentences or at every pause. Usually people are entirely unaware of these filler words until someone points it out or they see themselves recorded. It's not a pause to search for a word that we're forgetting, these are actual moments of our brain doubting what we're saying, questioning how we're coming across and searching for approval. It's not the worst thing, but when there are so many of these filler words, It is simply distracting to listeners and it dilutes the potency of your message.

If you want to get rid of these, ask a friend or colleague to help. Have them watch you present and when they hear your filler word, they should clap. At first you won't get why they clapped. It will seem that they were just interrupting you. The second time they clap, you'll identify that filler word, and after a few claps you'll start to notice your pattern and nip them in the bud. Just like getting rid of any bad habit, awareness is the first step.

6. Keep practicing.

Actors, singers, dancers, athletes all go through intense rehearsal or practice periods before a show or game. Presenters often don't give themselves that privilege and come in to present without even having rehearsed once! Presentations – especially one as crucial as an investor pitch – need practice. It's not enough just to read it over, your body needs to run it through as well. We learn on a different level when reading and when doing.

Practice in front of your team, spouse, kids, neighbors or even your Uber drivers and get their feedback. You can also record yourself and watch it back. Lather, rinse, repeat until you feel completely comfortable. The more times you pitch, the more comfortable and polished you will be.

7. Remember that your audience is hearing your presentation for the first time

If you give the same pitch, speech or presentation again and again, it may start to feel old, stale and boring. You may start to tire of hearing your own voice. But you must remember, the audience seeing you this time is seeing you for the very first time. They deserve to be just as wowed as your first audience!

Before each meeting or speech, take a moment to remember why you're doing this, what the first time felt like, what a rush it was. Think that someone sitting in that room might be the person you've been waiting to meet, and you want to give it your all. Then go in there and slay it!

Bowling for Microverticals: How Narrow Focus Results in Wide Success

Posted: 27 Feb 2019 07:00 AM PST

 

My own personal experience, particularly in deploying a microvertical business strategy at Sage Intacct, has aligned with this shift away from tackling big markets all at once. We have had great success, for example, with our not-for-profit category by focusing on meeting the needs of the various microverticals within it – including faith-based, associations, healthcare, and educational organizations.

Many would say these microverticals look a lot alike and have many related requirements, but their 80 percent overlap is trumped by the 20 percent that is different. Focusing on winning that last 20 percent is typically "make it or break it'" in being successful in a microvertical.

Companies can achieve significant success by focusing on a specific segment of a vertical market – and providing more value to that space than other competitors. The strategy is to be the big fish in a small lake, instead of a small fish in a big lake.

Here's how entrepreneurs across all industries can create a microvertical-driven business model.

Pick Your Vertical

You should aspire to achieve wild success in a market that is big enough to matter, but small enough to win. If the vertical is too large, there will be too many competitors, making it harder to break through. If the vertical is too small, you won't be able to build enough business within microverticals to succeed.

Once you feel confident that you've found the right size, define the smaller microverticals segments that you will focus upon. Talk with many customers within those microverticals to validate your uniqueness and the value you will be providing. If your organization has the expertise, customer intimacy, and speed to beat the competition, that will likely be enough for you to gain early success on which you can build into other microverticals within the larger market.

Hone in on Specific Needs

Once you've identified the vertical you want to target, ask yourself: How can I provide the most value to the very specific buyers within this space? Ford is great at this –  when the company designs a new car or truck (a space rife with competitors), it develops a very detailed profile of the customer it's targeting. Whether it's a ranch hand in Waco, Texas, or a small business owner in Burlington, Vermont, Ford focuses on offering the specific features and benefits that speak to the needs of the individual, motivating them to buy Ford's truck over the competitor. If you can allocate resources to meet the unique needs of specific buyers, providing the most targeted value, you're well on your way to conquering a microvertical.

Knock Down All the Pins

Once you've become an industry leader in one microvertical, you can utilize that momentum to win adjacent, related markets. I like to reference Geoffrey Moore's bowling pin analogy when discussing vertical strategy. In the analogy, each bowling pin is a market niche, or a microvertical. With a really targeted throw, or focus on specific buyer needs, you can knock down one pin, and dominate that microvertical. Once you've knocked down one pin, you can use the knowledge you gained during that process to knock down the rest of the surrounding pins, ultimately winning the game and dominating the larger vertical market.

Some people may question the microvertical approach, holding to the belief that it's better to meet 80 percent of common market needs well, rather than meeting 100 percent of specific microvertical needs. However, if you are able to conquer a microvertical (even if it's only 500 to 1,000 companies), you'll have the momentum and expertise to gain access to the 5,000 companies in the next, related microvertical, and beyond.

With the right resources that understand the microvertical's challenges and opportunities, along with the willingness to understand and hone in on specific needs, you can build a foundation for long-term and sustained success for your business.

Traditional vs. Roth IRAs: What SMB Owners Must Know

Posted: 27 Feb 2019 06:00 AM PST

When you are traditionally employed, saving for retirement is usually a simple matter: Pick a plan from the ones your employer has available and remember to take your contributions with you if you move to a new job. 

When you own a small or midsize business, however, saving for retirement becomes more complicated. Suddenly, no one is presenting you with options to choose from or matching your contributions. Instead, how you save for retirement is solely up to you. 

If you're a small business owner who needs to start saving for retirement, it's time to learn about traditional and Roth individual retirement accounts (IRAs).

The differences between traditional and Roth IRAs

"The differences between a traditional and Roth IRA are regarding the tax benefits, age and income requirements, and withdrawal," said Alissa Todd, a financial advisor at The Wealth Consulting Group. These differences are not necessarily pros or cons, Todd said. "What could be a pro for one investor may be a con for another, so it really depends on each person's financial situation and goal."

Roth IRA

Income requirements: Eligibility is based on your modified adjusted gross income (MAGI). After you pass a certain level of income, you may not be eligible to contribute to a Roth IRA. 

Age limits: You can contribute at any age if you are eligible based on your income. 

Tax benefits: Contributions to a Roth IRA are made with post-tax income. This means you can't deduct any Roth IRA contributions on their taxes, though you may still qualify for certain credits for being a "saver." 

"However, when you withdraw money from a Roth IRA, it comes out tax-free as long as you meet the guidelines," Todd said.

Traditional IRA

Income requirements: Contributions are not limited by your income. You may be able to open a traditional IRA for a spouse who does not work. 

Age limits: You can contribute until you are just over 70 years old. 

Tax benefits: Contributions to traditional IRAs are made pretax. This means they can be either partially or completely deducted on your taxes, depending on your income. But you will have to pay taxes in retirement. "When you withdraw money from a traditional IRA, all distributions are taxed as ordinary income," Todd said.

Contribution limits

Both Roth and Traditional IRAs have annual contribution limits, which could hinder your ability to save enough for retirement if a single Roth or traditional IRA is your only investment strategy. 

"If you would like to contribute more than $6,000, or $7,000 if you are over age 50, then you may need to open another retirement plan," Todd said.

How small business owners can pick the right IRA

Choosing the correct IRA for your retirement savings depends on several factors. 

"The benefit of a Roth IRA is that ... withdrawals are not taxable; withdrawals don't impact Social Security [or] Medicare taxes," said Ilene Davis, CFP, MBA, author of Wealthy By Choice: Choosing Your Way to a Wealthier Future. "However, there is no guarantee that withdrawals will not be taxed in the future … My general rule is that if a client is in the 22 percent or more tax bracket and can qualify for a traditional IRA, they should take the tax breaks now," Davis said. 

If neither the traditional or Roth IRA seems like the best option for you, speak to a financial advisor about other retirement plans that are available to business owners, including a SIMPLE IRA, SEP IRA or Solo 401(k). These plans can often allow you to contribute more than you would in a traditional or Roth IRA, though there are more eligibility requirements. 

"In a SEP IRA, you can contribute 20 percent of your earnings as a sole proprietor or 25 percent as an S- or C-Corp up to $56,000, which is significantly higher [than a traditional or Roth IRA]," Todd said. "Ask yourself how much you can comfortably contribute into a retirement plan without putting yourself in a tight cash flow position." 

No matter what type of plan you choose, Davis says the best thing any small or midsize business owner can do to plan for retirement is to start saving as soon as possible. 

"Find the type of plan that best suits your financial situation and needs, and start," Davis said. "And don't stop with tax-deductible or tax-advantaged plans if you can afford to invest more and still enjoy life. Often the difference between an OK retirement and a great one is the wealth accumulated beyond retirement plans."
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