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Podcast: How a Cyber Breach Can Affect Your Company Value

Podcast: How a Cyber Breach Can Affect Your Company Value

Today’s episode of #PoisedForExit featured Chris Steffl and Daniel Metcalf, partners at Cyberfin, a firm who offers complete Cybersecurity protection for small to middle market companies across the globe. 

Chris comes from a commercial insurance background and saw a great need for Cybersecurity among his many insurance agency clients who were lacking proper protection from the dark web. Cyberfin started as a subscription service for financial service providers (thus the ‘fin’ in the name) but has become industry agnostic, appealing to small, medium and large companies alike. 

The cost effective nature of the service is a big attractor for subscribers. Even consultants like me are jumping on board to protect the valuable client information and their own proprietary, financial, and sensitive information. 

Among the many tips and bits of advice they dispensed on the show, one was the importance of knowing what to do if you are ever compromised by a hacker. Your first call for help should always be to your insurance agent, said Daniel. Cyber Extortion “Bad Actors”, hold your information hostage these days after they’ve had a chance to follow you and your staff awhile to learn your business, your weaknesses, and your involvements. Sometimes they are even able to access a copy of your insurance policy when they hack into your system, so they know what kind of coverage you have! 

Other prevention tactics that Chris and Daniel recommend are to force password changes regularly, that are 14 characters in length, and to use multifactor authorizations especially for email! 

For more tips, stories and advice listen to episode here

Poised for Exit Podcast Sponsors:
Sunbelt Business Advisors

Sunbelt Business Advisors is a proud sponsor of the Poised for Exit Podcast. The Poised for Exit podcast seeks to help entrepreneurs improve, grow – and successfully exit – their businesses.

Julie Keyes, a life-time entrepreneur and founder of KeyeStrategies, understands what keeps an owner up at night and the balancing act required to work both ‘in’ and ‘on’ the business. The firm’s mission is to help business owners increase enterprise value and prepare for a future exit.

Julie believes in providing outside perspective and mentoring, which made all the difference for her while spending years growing and improving her companies before selling and becoming a business adviser in 2011.