You are expected to hire the services of experts that will help you with comprehensive economic and cost analysis and the profitability of the businesses within the location that you intend launching the business. The damage caused by cybercrime is estimated to hit $6 trillion by the year 2021. This will ensure that your company is able to grow in the years to come. We have put together this simple guide to starting your security guard company. It is not so for general partnerships. BPlans estimates startup costs at closer to $77,000. Conduct Market Research and Feasibility Studies, 4. The industry in fact has unfilled positions that are expected to reach 1.5 million by the year 2019. You are strongly encouraged to pursue professional certifications; it will go a long way to show your commitment towards the business. How to start a cyber security company? Many companies have employees who access company systems remotely. What is Cyber Security? The short answer is that starting a cyber security company is in many ways just like starting any kind of company. Continue reading to find out how to go about doing it. One way to do this is by coming up with a list of cybersecurity services that people won’t find when they work with other companies. Limited liability companies are simpler and more flexible to operate and you don’t need a board of directors, shareholder meetings and other managerial formalities. Besides, you would need to get the required certifications and license and also meet the standard for such business before you can be allowed to start a cyber-security company in the United States of America and in any part of the world. Besides, you would need to get the required certifications and license and also meet the standard for such business before you can be allowed to start a cyber-security company in the United States of America and in any part of the world. In some cases, you may want to set your sights on companies that operate within the banking industry. If you decide to start your own cyber security consulting services company today, one of the major challenge you are likely going to face is the presence of well – established cyber security consulting services company and also other related IT security consulting based and advisory businesses who are offering same services that you intend offering. Network security companies Starting a business Data security Cyber liability insurance Business best practices IT / Technology IT consultants. Industry: Energy, Software. Aside from your qualifications and experience, it is important to clearly state in practical terms what you have been able to achieve in time past as it relates to the cyber security consulting services industry and the organizations you have worked for in time past. It is important to state that a cyber-security consulting services company may decide to improvise or adopt any business process and structure that will guarantee them good return on investment (ROI) efficiency and flexibility; the above stated business cum services process is not cast on stone. If many of the small businesses in your area aren’t happy with the cybersecurity services they’re receiving, it could be a strong indication that there is a lane open for your company. So, if you have plans to start your own cyber security consulting services company, it will pay you to build first build a successful career in the cyber security consulting services industry. When starting a cybersecurity business, one of your main goals should be to strive to set your company apart from all the rest. Just ensure you have what it takes to proffer the right solution to people and organizations’ cyber security concerns and you know how to reach out to your target market. Additional Online Revenue Streams for Business: Is It Possible? Browse through the articles found on our blog to find more information about jumpstarting a business. In most cases, access to sensitive systems and data is protected only by a password. Start Your Cyber Security Business on the Right Foot. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp), 8. Join local chambers of commerce and industries around you with the main aim of networking and marketing your services and products; you are likely going to get referrals from such networks. Most cyber security companies tend to offer general services that a standard cyber security company is expected to offer. This has also led to huge investments in cyber security firms, as the first half of 2015 saw investors pumping nearly $1.2 billion into start-ups in this industry. Cyber security. In the event that you’re able to thwart cyber-attacks and keep businesses safe, you’ll earn positive reviews from your customers. Every business that uses the Internet is responsible for creating a culture of security that will enhance business and consumer confidence. When it comes to choosing between renting and leasing an office space, the size of the cyber security consulting services company you want to build and your entire budget for the business should influence your choice. She holds a Bachelor of Arts degree in English and Literature. The cyber-crimes being committed by these individuals range from financial, personal, national security issues to attacks on individuals, businesses and even the government, by tapping calls, monitoring emails or hacking websites to extract sensitive information, which is why more efforts are being put in place to secure data from those seeking to use them for purposes that is against what the owner intends. Company Summary. But on the other hand, some cyber security companies may decide to major in key areas such as; No matter the line of business you decide to pitch your tent, you are still going to compete with others who are into same line of business and cyber security services business is not an exemption. For those already in the tech field that are looking to become entrepreneurs in the cyber security should expect to make more money as this is a growing field that has seen professionals earning big bucks. So, if you have done the required feasibility studies and market research, then you might want to venture into this business. This is so because the nature of the business makes it possible for you to challenge organizations and individuals in court for illegally making use of your company’s intellectual properties. If you make the mistake of renting or leasing a facility for cyber security consulting services company in a not too visible or hidden location simply because it is cheap, then you must be prepared to spend more in promoting the business and perhaps giving direction to potential clients. A unique product, ample funding and strong partnerships are just three key ingredients you’ll need if your cyber-security start-up is to survive and thrive. Even though it is relatively expensive buying the franchise of an established IT security consulting services firm, but it will definitely pay you in the long run. Ordinarily, general partnership should have been the ideal business structure for a small – scale cyber security consulting services company especially if you are just starting out with a moderate start – up capital. Decide On The Type Of Security Business. It has been estimated that by 2021, more than 4 billion people will be susceptible to attacks over the internet. People and organizations will only hire your services or purchase your product if they know that they are going to get good returns on their investment or solve their cyber security and IT security related challenges. In October 2012, the FCC re-launched the Small Biz cyber planner 2.0 , an online resource to help small businesses create customized cybersecurity plans. Do not start offering an entire gamut of the services for which you may not have sufficient funds and … A security company is a good option for a mid-career change, and some people involved with law enforcement decide to start their own security company since they have the necessary skills and experience to succeed. If you have taken your time to study cyber security consulting services company, you will realize that cyber security consulting services companies and related businesses are willing to pay expensive rents in order to stay in a busy business district; a place where business activities and ICT activities are at its peak. 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Cyber security companies or IT security consulting firms manage IT security services such as firewalls, intrusion prevention, security threat analysis, proactive security vulnerability and penetration testing and incident preparation and response, which includes IT forensics. So, it is imperative to create a budget for insurance policy covers and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your cyber security consulting services company. Some other threats that you are likely going to face as a cyber-security consulting services company operating in the United States are unfavorable government policies, the arrival of a competitor within your location of operations and global economic downturn which may affect businesses such as cyber security consulting services company. Globally, a hack in 2014 cost companies $7.7 million on the average. And, of course, there’s our own blog, which helps you stay up to date with the latest cyber security news and advice. Discuss With an Agent to Know the Best Insurance Policies for You, 10. 1. It also budgeted a whopping $14 billion in 2016 for cyber security. There is hardly anything you can do as regards these threats other than to be optimistic that things will continue to work for your good. Jack has a Masters degree in Information Security from Harvard University and is expert in the domain of cyber-security. Starting this kind of business definitely entails that you acquire the required degree and profession certifications and also build good working relationships with stakeholders in the industry. That being said, Cyber Security can be more intense than that. But before you kick things off, learn how to start a cybersecurity company. Let’s face it, the cyber-attack hazard has become an evil which no online company can neglect. One good thing about the cyber security consulting industry is that there is a readily available market for their services simply because individuals and even organizations naturally would want to improve and effectively manage their cyber security. Regardless of the estimated number, the report points to the same fact that more people will be online and will be vulnerable to cyber-attacks. Cyber Security is a really broad field that involves many different job descriptions. Know the Major Competitors in the Industry, 5. That is why it seem that there are no niche areas in the industry. This shows that there is severe shortage of talent especially as more cybercrimes are being committed almost every other day. When starting a security company, the startup should pick a category of the services that you would like to provide to the clients. There is a real need for cybersecurity services in many cities throughout the country. How to Start a Computer Security Consulting Business. Depending on the scale at which you want to start from, you might require as much as multiple thousands of dollars to strike this off and at the same time you might need far less than that if you choose to start the business on a small scale offering limited services. If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business or to partner with you. Here are some of the platforms you can utilize to market your cyber security consulting services company; If your intention of starting a cyber-security consulting Services Company is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand. But if you truly want to build your own brand, after you must have proved your worth in the IT security consulting services industry, then you might just want to start your own cyber security consulting services company from the scratch. This is however expected to exceed $1 trillion globally within a five-year period. Pally Drake IT Security Consulting Services Co. Sammie Dane Cyber Security Consulting Services, Inc. Shannon Pearce IT Security Consulting Services, Inc. 6 Best Cyber Security Franchise Opportunities for Sale, Starting a Cyber Security Monitoring Company – Sample Business Plan Template, Starting an Online Identity Theft Protection Company – Sample Business Plan Template, A Sample Cyber Security Business Plan Template, 50 Best Cyber Security Business ideas for 2021, Interesting Statistics About the Cyber Security Industry, 2. Name Your Cyber Security Company and Make It Legitimate At this point, you should know everything there is to know about your local market and where your cybersecurity company will fit in. Experience has shown that user-selected passwords are typically easily guessed, or can be obtained via a simple e-mail phishing attack. Get the Necessary Legal Documents You Need to Operate, 14. So also, you will definitely need computers / laptops, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves). Cybersecurity is fast becoming one of the biggest areas in the startup scene, and it’s no wonder why – the cybersecurity market is thriving, and by 2022 it’s expected to grow to $224.48 billion in revenue.. Engage the services of marketing executives and business developers to carry out direct marketing. Joy Nwokoro is a Freelance Business Journalist, researcher, translator and sales trainer who have worked with numerous clients amongst which is Women in World Banking, a business research NGO in New York, United States of America. So, if you are looking towards defining the demographics for your cyber security company, then you should make it all encompassing. Required fields are marked *, How to Start a Cyber Security Company: A Detailed Guide. So, when you are drafting your marketing plans and strategies for your cyber security consulting services company, make sure that you create a compelling personal and company’s profile. As a cyber-security consulting services company, you would have to prove your worth over and over again before attracting corporate organizations and individuals to hire your services or purchase your product. The level of competition in the cyber security services industry depends largely on your area of specialization and how big and organized your cyber security services company is. Below are the platforms you can leverage on to boost your brand and to promote and advertise your cyber security consulting services firm; Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. I think this question wouldn’t have risen if you were already into cybersecurity or information security domain. These are some of the leading IT security consulting services firms or cyber security companies in the United States of America and also in the globe; When it comes to starting a business such as cyber security services company, you just have to get your feasibility studies and market research right before venturing into the business. Know the Possible Threats and Challenges You Will Face, 7. Wondering how to start a security company? A harsh reality about the Cyber Security landscape is there is a huge gap between the demand and supply of Cyber Security professionals. Schneider Electric Schneider Electric. A recent report research conducted by Intel shows that the number of devices that will be connected might reach 200 billion in 2021; this is from the 15 billion connected devices in 2015. The demographic and psychographic composition of those who require the services of cyber security companies cut across individuals, corporate organizations, investors and business owners cum entrepreneurs who own computers and internet devices, work and store information in the cloud and all those who are prone to cyber-attack and hacking and all those who need cyber security advice and guidance in other to maximize their business. Your email address will not be published. Get the Necessary Professional Certification, 12. Location: Foxboro, Massachusetts Keyboard Cyber Security Consulting Services, Inc. CISSP: Certified Information Systems Security Professional, CISM: Certified Information Security Manager, CISA – Certified Information Systems Auditor, GIAC Certified Windows Security Administrator, OSWP Offensive Security Wireless Professional, SSCP – Systems Security Certified Practitioner, CRISC – Certified in Risk and Information Systems Control, ECSA – EC-Council Certified Security Analyst, Cisco Cybersecurity Specialist Certification, Apostille (for those who intend operating beyond the United States of America), Raising money from personal savings and sale of personal stocks and properties, Raising money from investors and business partners, Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors. Use the guide we’ve provided here to get your business off to the strongest start possible. According to forecasts, the investments were likely to reach $77 billion as at the end of 2015. Many employers expect to hire highly-educated professionals for cyber security so, in most cases, a college degree is a must. Those who own and operate a cyber security company will need to know how to: Identify emerging threats on the internet and find weaknesses in operating systems, apps, and networks. What A Cyber security do and gives to their customer? More than 50% of all cyber-attacks are directed at small businesses. It is a known fact that the internet is one innovation that has changed the world; but as helpful as the internet has been, it has also caused a lot of problems as cyber-crimes are now being committed by either individuals or groups of people. In this post, we discuss exactly what documents you need to start and grow a legal security company in South Africa. Limited Liability Company, LLC will cut it for you. By Doug Drinkwater CSO Setting up an LLC protects you from personal liability. Most importantly, before choosing a location for your cyber security consulting services company, ensure that you first conduct a thorough feasibility studies and market survey. Hiring a small team of cybersecurity specialists to carry out your company’s services, Setting your small team of employees up with the right tools and equipment to provide your customers with cybersecurity services, Renting office space for your cybersecurity company, Creating a website for your business with information about your cybersecurity services on it, Establishing a social media presence for your cybersecurity business, Cold-calling businesses in your area to inform them of your cybersecurity services. Starting a cyber-security business is therefore a lucrative business to go into because individuals, businesses and the government need their data protected. You should also know which specific cybersecurity services you’ll be able to offer to your target audience. If you are considering starting your own cyber security consulting services company, here are some catchy names that you can choose from; In the United States of America and in most countries of the world, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. A computer security consulting business specializes in providing companies with the tools needed to protect their networks, offer safe product distribution, conduct audits and perform testing in regard to distribution and net communications. He has been working in Symantec as a Cryptographer for ten years, but now he has decided to start a cyber-security business.. 3.2 Why the Business is being started If you have enough capital to run a standard cyber security consulting services company then you should consider the option of leasing a facility for your office; when you lease, you will be able to work with long – term planning, structuring and expansion. Why Is It Important to Go the Extra Mile for your Clients? Decide Whether to Buy a Franchise or Start from Scratch, 6. As a result, the average cyber-attack costs a small business about $200,000. The only way to avoid this challenge is to create your own market. As a matter of fact, it is cost effective to use the internet and social media platforms to promote your brands, besides it is pretty much effective and wide reaching. This post is for you: If you want to start your own security company in South Africa or if you want to get your existing security company’s compliance documentation in order to apply for Tenders, Contracts or RFQ’s. Introduce your business by sending introductory letters alongside your brochure to all the corporate organizations, business owners, research centers, institutions, banks, military establishment, blue chip companies, businessmen and businesswomen, start – ups, entrepreneurs, aspiring entrepreneurs, and telecommunication companies within and outside the city you are operating in who have the capacity to pay for your services. Normally it’ll fall to Cyber Security professionals to secure systems and keep viruses and nefarious users from gathering data or hacking a company. Starting A Cybersecurity Business. The truth is that it will pay you in the long run to start your cyber security consulting services company from the scratch. There is no guarantee that your cybersecurity company is going to be a complete success, even if there’s a market for it. But that doesn’t mean they’re going to flock to your company right away once you set up shop. It’s important to determine this right from the start so that you can tinker with your cybersecurity business model accordingly. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity, Providing email and cloud security services, Providing other IT protection consulting services, buy the franchise of a successful IT security consulting firm, choosing a location to launch the business. Generally, you have the option of either choosing a general partnership, or limited liability Company which is commonly called an LLC for a business such as a cyber-security consulting services company. Certification validates your competency and shows that you are highly skilled, committed to your career and up-to-date in this competitive market. 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