Fear is an innate emotional response to a perceived threat- one that has evolved in us since the beginning of mankind. It warns us of potential dangers and can provoke a response to fight or run. It also can let us know when we’re doing something wrong or not paying attention. It is, if you will, a form of self-regulation.
In some cases, such as in business, fear can be a positive driving force. It can propel business owners to take extra steps to protect what they’ve built. For example, competitiveness is really a form of fear that drives us to do better and come out on top in the business world. Though I believe having a slight sense of fear can help propel business, positive motivators are still my favorite. 🙂
Here are several areas when fear helps to secure your business.
The Fear of Losing Data
One area where fear helps us to keep our businesses safe is in our security. The truth is, cyber hacks have increased by 11% since 2018 and 67% since 2014. This is a little scary and definitely warrants some fear.
Recent regulations from the EU and California in the US have made the business world stand up on edge. The General Data Protection Regulation from the EU is a law all businesses in the EU and interacting with EU citizens have to comply with. Personal data must be kept under lock and key when it comes to transferring it outside of the EU.
The California Consumer Privacy Act has also pushed for heightened cybersecurity measures by businesses to not reveal the purchase history of customers. Inevitably, all businesses wishing to do business within the EU and in California must have adequate cybersecurity systems in place. It’s little wonder that PC protection services have skyrocketed. Protect your network system from viruses and malware. This service provides 24/7 coverage so you won’t fear losing consumer data.
A New Battleground
During the latter part of the previous decade, customer recognition became a popular area of investment. Brands can now utilize a customer’s fingerprints as a way of identifying them and also their facial structure. However, with the advent of deepfakes, it’s becoming a battleground against hackers and malicious organizations with the intent to steal customer data.
It’s right to fear this development because AI is not at that stage where it can detect a human face as opposed to a computer-generated skin or, sometimes, a paper headshot. Invest in machine learning software so you can develop a program that allows your customers to use biometrics without your apps and systems being fooled.
Incompetence or Otherwise?
As an entrepreneur who puts her life and soul into her business, you shouldn’t feel guilty for fearing your employees. Employee incompetence and betrayal have led to internal leakage of big data and malware intrusion. It’s vital to have a strict policy around computer discipline so machines are not left unattended for long.
In 2019 alone, 34% of breaches were due to insider threats. It’s only right that you have managers watch employees like a hawk so nothing malicious is allowed to occur.
Fear is a driving force that keeps us from becoming complacent. Utilize your fear to help you make the appropriate changes to your business, as well as precautions to keep it safe.