What To Know About Expanding Business


The growth of a business is one of the most exciting things that an entrepreneur can experience. A dream is becoming reality, and the future looks incredibly bright.

Of course, it’s during this time that we need to be ever more alert to certain threats to our business. We have more things at stake when we’re bigger; we have lots more data that has to be secured, and the impact of losing it is far larger.

There are external threats as well. The fact is that the bigger a business we become, the bigger a target we become. There is an endless stream of criminals and con artists out there just waiting to exploit your vulnerabilities at the exact time that you think you’ve got it made.

But the good news is that it isn’t inevitable that you will be attacked. As you grow, your resources will grow, and you’ll be able to take the steps needed to ensure that someone doesn’t take advantage of your success. The key for you is to be aware of how someone may try to exploit you, and then to address those areas of weakness before anyone has a chance to get you.

Data Failures

As noted earlier, the more data you have, the more you stand to lose. That’s obvious. When your business is small, though, you also have an easier method to back things up. You can keep it as simple as a few external hard drives where you regularly copy important files. If something happens, you simply reload.

That is impractical once you get bigger. You need a system for secure data recovery that can react to any of the endless stream of physical and virtual threats to your data, keeping you protected and ready for a near-immediate resumption of normal function. Take on this protection as soon as possible; there is just too much at stake.

Getting Hacked

Technology can be one of the most difficult areas to convince people that they are at risk. When it’s just your little Mom & Pop online store selling a few items, there are two reasons why you aren’t a target. First, you aren’t big enough for them to notice you, and second, even if they notice you, they don’t figure you have enough transactions to be worth the effort.

Once you get big, you’re on the radar. Hackers can find you, and they know you’re doing enough business that you’re handling a significant number of bank accounts and credit cards with your customers. After they determine there’s something to steal, they’ll be after you.

Getting Ripped Off

The business world is fraught with legal ripoffs. The iPhone came along, and soon the smartphone industry blossomed with dozens of competitors trying to duplicate or improve on Apple’s original product.

The specifics of just how closely they can mimic your goods are complicated and best left to an expert in copyright law, and that’s the take-home message here. Industrial espionage is real. Employees you thought you could trust will gather data, leave the company, and go to a competitor with the beginnings of your next big idea. If you haven’t secured copyrights to key elements along the way, there may be nothing you can do.

As you develop your product, develop your legal protections as well. It’s the only way to make sure that your innovation remains yours.

There’s no good time to see your company victimized, but it certainly stings worse when it happens at a time when things had been looking so good. Prepare for your growth by protecting your company.

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