And Improve Your Bottom Line
We all know about the Cyber-Elephant in the boardroom. Obvious, important, undeniably HUGE, and often overwhelming – no one wants to talk about Cyber Risk. But, it’s not going anywhere – until we find a solution. Face the cyber-elephant and Improve Your Bottom Line.
We know that the best way to tackle a problem is THROUGH. Facing the problem head-on, rather than ignoring it. Dismissing Cyber Risk is the most dangerous move of all. The more leaders avoid addressing the elephant in the room, the bigger – and costlier – the problem becomes.
Yet, the often-unspoken truth: “Business Leaders Don’t Care about Cyber Risk!”
They’re focused on their bottom line. Security, some say, “is just another cost — NOT a driver of ROI.”
A Bit Like the Elephant, CyberRisk is too often:
- Obvious but Ignored: Like the elephant in a room, cybersecurity risks are large and impossible to miss, but they are often not fully discussed or acted upon.
- Urgent and Evolving: The urgency of cybersecurity is escalating as cyberthreats become more sophisticated and constantly evolve, yet many organizations fail to keep pace.
- Impacting Business: Companies are aware of the enormous potential consequences, but in the competitive drive for digitalization and innovation, the necessary investment in security is often sidelined.
- Technically Complex: The technical nature of cybersecurity can make it difficult to communicate to leadership, who may not grasp the urgency or how to prioritize it.
- Frustrating – Leading to Disengagement: A sense of futility can arise from the perceived complexity and the constant battle against threats, leading to security frustration and riskier online behavior.
- Misunderstood/Misaligned – Focused on Compliance Over Security: Some efforts focus on achieving certifications rather than truly addressing security, creating a false sense of security that does not reflect the actual risk.
We believe it’s time to Face the Elephant. As CyberPeople, it is our responsibility.
In business, we should be saying louder: “The right security directly improves your bottom line.”
The Cost of Avoiding the Elephant:
Data breaches now cost companies an average of $4.88 million. Lost revenue, stolen data, fines, damaged reputation, and lost customers can set a business back for years. … Or worse. If you’re an SMB, chances are good you won’t survive the breach.
Investing in proactive security helps prevent these losses, stabilizes growth, and even builds customer trust – which, in turn, drives more business.
But HOW?
1. Trust Drives Customer Loyalty and Revenue
- Customers are more likely to do business with companies they trust to protect their data.
- Strong cybersecurity visibly signals that your business is safe, helping you win and keep more customers – and often at higher price points.
- Research shows mature cybersecurity firms see higher revenue growth and improved retention rates.
2. Cybersecurity Reduces Costly Disruptions
- Data breaches and ransomware can cause millions in direct and indirect losses – on average, $4.88 million per breach in 2024.
- Investing in cybersecurity drastically lowers your risk of downtime, legal penalties, and damage to your brand—all of which protects your revenue stream.
3. Security Enables New Markets and Partnerships
- Many industries require proven security and compliance before partnering or purchasing.
- Robust cybersecurity allows your business to move into regulated markets, close bigger deals, and shorten B2B sales cycles.
4. Security Streamlines User Experience
- Modern security (like passwordless authentication) can actually improve onboarding and sign-up rates, reducing abandoned carts and boosting sales.
- Fewer friction points mean more completed transactions and revenue.
The Bottom line: Strong cybersecurity isn’t just IT’s problem. It’s key to a healthy, profitable business. Proactive cybersecurity is not just a cost—it’s an investment that protects your profits and unlocks new paths to revenue growth.
So, let’s stop tiptoeing around the Beast. Embrace YOUR Elephant and Improve Your Bottom Line! ***
ReadySetCyber Faces the Elephant!
Find out more on the next edition of ReadySetCyber – Live on September 24th at 9 am Pacific!
#Cybersecurity #CyberRisk #RiskManagement #BusinessGrowth #TheElephantInTheRoom