Principle of least privilege: Business owners, ask your IT folks if your accounts are set up this way. It means users and systems only get access to what they need to get their tasks done. It’s a simple way to keep your info safe.
Small-biz tip: Don't overlook this digital danger
Are you the type of business owner who forgets about ex-employees as soon as they’re gone? Failing to remove former employees’ access to your systems and data could lead to security breaches. Don’t let poor offboarding practices be the weak link in your cybersecurity chain.
How improper offboarding can hurt your business
Whenever an employee leaves the organization, you must remove their access to company systems and data. That’s especially true if you’ve laid off an employee. They may feel a sense of anger or resentment towards the company, which makes them more likely to be malicious.
It’s more common than you might think. A recent study from Beyond Identity examined how ineffective offboarding impacts a business’ cybersecurity. They found that one in three employers has been hacked due to ineffective offboarding.
Oh, and most former employees say they can still access company files. Researchers say 91% of employees can still see private files after offboarding earlier last year. Do you want former employees to know what you’re doing a year later? Probably not!
Plus, the study found only 21% of employers deactivated an employee’s account immediately after they let the worker go. It took 29% a whole week to cut the strings.
Overall, businesses estimated they lost $7,687 to ineffective offboarding. In other words, it’s a mistake you can’t afford to make. Want to build better business practices? Here are the three lessons Kim has for fellow business owners.
Offboarding dangers for small-business owners
⚠️ If you don’t completely cut off former employees, you’re taking on a ton of risks, like:
- Insider threats: Former employees who can still access company systems and data can steal confidential information or sabotage your systems.
- Social engineering: I talk a lot about how dangerous phishing scams are. They can level a company’s computer systems. Former employees are especially dangerous because they know social details about the workplace, which can help them access sensitive information or networks.
- Revenge: In some cases, fired employees may attempt to cause harm to their former employer out of revenge, such as launching a denial-of-service attack or spreading false information about the company.
Beyond Identity’s survey found that 86% of employees have considered taking negative actions against a former employer. People who actually went through with retaliation had diverse reasons: 37% said they didn’t get a raise, while 29% cited a bad relationship.
Small business owners: Simplify your life with one financial tool that does it all
Are your finances as organized as you’d like them to be? Come on, be honest. For most business owners, the answer is a reluctant no.
As your company grows, you will have more expenses, contractors, KPIs and hands managing it all. If your communication happens through email, over the phone, in messages, and via spreadsheets, you will hit a wall sooner or later.
Small biz social media tricks
Business owners wear many hats, and one of them is social media marketer. Here’s how to do it well without it consuming your time.
Attn., business owners: Do this! Verify your business with Apple, and your logo will now pop up in the iPhone’s Phone, Mail, Maps and Wallet apps. Start by signing into Apple’s Business Connect page with your Apple account. Add your company info, register for the service, and you’re good to go.
Best free home inventory apps to rule the roost in style
Imagine waking up in the middle of the night to the sound of fire alarms blaring. You quickly realize your home is on fire and rush your family out of the house safely. Then you realize you never took inventory of your belongings.
Watch out for fake business letters that trick owners into overpaying
At the start of this year, 33.2 million small businesses were operating in the U.S. Estimates say they make up about 99% of all companies in the country. That is a considerable percentage of owners who need to navigate the challenges of running a company. Tap or click here for free resources to grow your business.
Run a small business? Follow this end-of-the-year checklist before 2022 ends
The new year is right around the corner, which means it’s time for New Year’s resolutions, paperwork filing and holiday vacations. For busy business owners, there’s a lot to keep track of. Make sure you don’t forget anything important with this small business checklist.
Budgeting tip: An easy way to slash your monthly charges
Your dollars don’t go as far these days. Sure, things are more expensive, but “buy now” buttons and shiny new services add up much faster than we’d like to believe. It’s no surprise that subscription-based business models are so popular.
Don't make the same mistake that cost me $90K
I’ve been a small business owner for 25 years. Along the way, I’ve had some great successes, along with my fair share of mistakes.
Sometimes those mistakes are easy to recover from. You recognize what went wrong, regroup and try something new. And sometimes you realize, “Uh oh. This is something I can never let happen again.”
3 simple things that will save your business money to start the fiscal year
Many people think that owning your own business means you have hundred-dollar bills hanging out of your wallet. Small business owners know differently.
Business owners face a myriad of financial hurdles, more so since the pandemic. So when it comes to budgeting, finding ways to cut costs is a priority for every business owner.
How to prepare your business for the coronavirus
The coronavirus outbreak continues to make its way across the globe and health officials are urging Americans to be vigilant and prepare for the possibility of more cases. Currently, the numbers of infected in the U.S. are few, but the situation is fluid. Calm, proactive behavior is the key to staying healthy.