Is Your Company Ready for the Next Cyber Threat?

digital threat

Are You Prepared?

Security incidents are up 66% year-over-year since 2009. Despite this alarming statistic, 80% of CEOs report that they are confident in their company’s cybersecurity.

Cybercrime is on the rise.

Are you prepared? 

Cybersecurity expert Ray A. Rothrock shares the tactics used by hackers and then arms management with the tools to prevent these hacks in his new book Digital Resilience: Is Your Company Ready for the Next Cyber Threat?

 

76 percent of respondents to Cyberthreat Defense Report indicated that they were successfully compromised by a cyberattack.

 

Why Leaders Must Pay Attention

Ray, your book is compelling. It starts by scaring us beyond belief. For those who haven’t read your book yet, would you go ahead and scare our readers…

By the end of 2016, one category of cyberattack on business —ransomware infection– topped 4,000 instances per day. One publication, CSO, recently posted an estimate that cybercrime damage will hit $6 trillion by 2021 and, by 2022, the human attack surface, the potential victim pool, for cybercrime will reach 6 billion, which is 75 percent of the projected 2020 world population of 8 billion.

So, if you want to be scared, chew on the incontrovertible fact that you and your business are being attacked today, and you will be attacked tomorrow and the day after and the day after that. Obviously, you need excellent cybersecurity—firewalls, antivirus software, antimalware software, automatic downloading and installation of the latest security patches for all your software, and a workforce educated in basic digital hygiene. Yet the hard truth is that even the best cybersecurity will be penetrated. Some of those daily attacks will pierce your perimeter defenses.

Mediocre security will stop some attacks. Good security will stop more attacks. The best security will stop even more. But, whether mediocre or exceptional, all security will ultimately fail. You will be breached, and, if you depend on security alone, the effects of the next breach—the next inevitable breach—may be annoying or may put your business at great risk. This is why you need both excellent digital security and excellent digital resilience.  In short, you need to be prepared because you will be attacked.  Resilience starts with preparation.

 

“Resilience starts with preparation.” -Ray Rothrock

 

Shore Up Your Resilience

How to Build an A Team

a team

Build an A Team

Those who aspire to be successful quickly realize that individual performance isn’t usually enough. Only a team of committed individuals can accomplish great things. So a leader’s job turns to finding, selecting, and cultivating an amazing team.

If you wonder whether you are performing at your best, look at your team. My philosophy has always been that, if they are growing, your company will follow.

 

“Successful business leaders prioritize talent-development as a recruitment tool in the same way top athletic coaches do.” -Whitney Johnson

 

One way to tell whether you are growing is to look at where your team falls on the S curve. Based on Whitney Johnson’s proprietary research around disruption, every organization is a collection of individual S – or learning – curves. You build high performing team by optimizing these individual curves, including yours. In her book, Build an A-Team, you will learn how to manage people all along the S-curve and what to do when they reach the top of the curve. As employees are allowed, even required, to surf their individual S-curve waves, disrupting themselves, you will not only be less vulnerable to disruption, you’ll also be a boss people want to work for.

 

“The mind and skill-expanding opportunity motivates great engagement more than money or accolades.” -Whitney Johnson

 

After the release of your last book, Disrupt Yourself, you traveled and met the leaders of many organizations. As you spoke with them, what surprised you most?

Many people feel stuck, like a genie corked in a lamp; if somebody (usually their boss) would just pull that cork, they could make magic. They say, “I’m ready to disrupt myself. How can I persuade my boss to let me?” Or, “How can I get my team to disrupt themselves? How can I get my boss on board with that?” In Build an A Team I answer these questions and address the fact that, in most cases, fear of failure is the cork. We may be the cork in the bottle—our own, and our employees’.

 

“Want to know if you are about to be disrupted? Take the pulse of your workforce.” -Whitney Johnson

 

Be the Boss People Love to Work For

How the Best Companies Stay Relevant

shift

How to Stay Relevant

The number one reason for organizational success or failure is the ability to stay relevant. Staying ahead of the continual marketplace changes may seem an impossible task. How do you continually evolve at a pace that keeps you ahead of the curve?

In SHIFT AHEAD: How the Best Companies Stay Relevant in a Fast-Changing World, authors Allen Adamson and Joel Steckel explore why some organizations can continually evolve to meet the times and the marketplace, and why others struggle to keep up. Allen is co-founder and managing partner of Metaforce and brings over thirty years of experience in building iconic brands. Joel is an expert on marketing research and branding. He is currently Vice Dean for Doctoral Education at NYU’s Stern School of Business.

I spoke with Allen about the book and their research.

 

“Focusing too much on the competition can lead to inappropriate shifts. It’s the customer that really counts.” -Adamson and Steckel

 

The Case of Blackberry

You share many examples and case studies about companies that just plain missed some key changes. Some ended up obsolete and others struggled for years. Would you share an example and what went wrong?

One of my favorite examples of “what went wrong” is the story of the rise and fall of Blackberry. For those who may not remember, Blackberry was once the indispensable mobile communication device of choice for heads of corporations, heads of state, and the Hollywood elite. It was an easy, secure and effective device that allowed workers to send and receive emails and phone calls while away from the office. The functionality of its tactile keyboard made typing easy, and it built its initial reputation on the concept of security. This was all before Apple and Android smartphones had taken hold.

The quick answer about why it fell so precipitously is that Blackberry’s inability to shift and move forward was caused by its own sense of invincibility, inward group-think, and general arrogance. With the rise of in popularity of iPhones and Androids, those at the helm saw only what they wanted to see. They considered these new devices not as significant competition, but as toys, a passing trend. They arrogantly laughed off the threat that was materializing in front of them instead of figuring out how to defend against it.  As we all know, not only were these smartphones built for ease of communication on multiple platforms, they were beautiful to look at. They became just too much to resist for even the most security-centric audience of users.

Too-little-too-late is what Blackberry eventually did in response, which was exactly what it shouldn’t have done. It began to chase the market with subpar versions of the competitors’ brilliant models, wrongly assuming that its core customers would follow with them. That did not happen. The producers of Blackberry should have doubled down on what made the product so vital to its initial loyal audience. It should have kept its focus on its point of relevant differentiation in the marketplace – security – and capitalized on it. No brand, product, or organization is invincible, especially when it dismisses the needs of its most loyal audience.

 

Shift Ahead

How To Be Decisive

decisions
This is an excerpt from Start a Successful Business: Expert Advice to Take Your Startup from Idea to Empire by Colleen DeBaise © 2018 AMACOM/AMA. All rights reserved.

Be Courageous

All leaders must make courageous decisions. It goes with the job. You understand that in certain situations, some difficult and timely decisions must be made in the best interests of the entire organization. Such decisions require a firmness, authority, and finality that will not please everyone.

 

ADVICE: HOW TO BE DECISIVE

“I think everybody who creates something is doing something audacious. Because the most difficult time is when you are starting from scratch with no financial backing—just an idea. So true audaciousness comes about with just those people who have the pluck and the courage to say, ‘Screw it; let’s do it.’” -Richard Branson, Virgin Group chairman

There are a few truths when it comes to decision making, according to Anna Johansson, a business consultant:

Logical decisions tend to trump emotional ones. Since emotions can sometimes make us biased or see things in an inaccurate light, basing a decision on logic, rather than on a current emotional state, usually gives you more objective information to make the final call.

Thought-out decisions tend to trump impulsive ones. Because you’ve spent more time on the problem, you’ll understand it more thoroughly and be better versed in the variables that might arise from any possible route.

Flexible decisions tend to trump concrete ones. Things change frequently, so making a decision that allows for some eventual degree of flexibility usually offers more adaptable options than a decision that’s absolute or concrete.

These aren’t absolute rules, however. For example, many entrepreneurs trust their gut when making decisions—and indeed, instinct can sometimes beat over-analytical thinking.

 

“Fortune does favor the bold and you’ll never know what you’re capable of if you don’t try.” -Sheryl Sandberg

 

Here are some strategies you can use in almost any decision making process to ensure that you make the best choice, according to Johansson:

 

Step Away From the Problem

Scientific research suggests that distancing yourself from a problem can help you face it in a more objective way. For example, let’s say you’re trying to choose between two different opportunities, and you can’t tell which one is better for you. Instead of remaining in your own frame of mind, consider yourself as an outside observer, such as a mentor giving advice or a fly on the wall. Removing yourself in this way helps you filter out some of your cognitive biases and lean you toward a more rational decision.

 

Research: distancing yourself from a problem allows you to face it objectively.

 

Give Yourself Some Time

Most of us end up being lousy decision makers when we try to force a decision in a moment, or push through to a final choice after first learning about a situation. In some high-pressure environments, this is a must, but it isn’t the most effective or rewarding way to do things. Instead, accuracy and reliability in decision making tends to increase if you first give yourself some time to decompress and collect yourself—even if it’s just a few minutes. This may also help you remove yourself from the problem, knocking out two of these strategies in one fell swoop.

 

Know That There Is No Right Answer

You can stress yourself out trying to pin down the answer that’s objectively correct, if you believe one such answer exists. Instead, remind yourself that there’s almost never an objectively correct answer. “All you can do is make the decision that’s the best for you at the time, and it’s probably going to work out okay either way,” Johansson says.

 

Forget the Past

Remember the lessons you’ve learned from the past, but don’t let your past experiences affect what you choose in the present. For example, if you’ve paid a hundred dollars a month for a service that isn’t getting you anywhere, you may be tempted to continue simply for the reason that you’ve already spent thousands of dollars. This skewed line of reasoning is an example of an escalation bias, in which you’re hesitant to cut your losses. You can’t change the past, so instead, look to the present and future.

 

Leadership Tip: don’t let your past experiences affect what you choose in the present.

 

Commit

You can overanalyze a problem as much as you like, but it probably isn’t going to help anything. It’s just going to bring up new complications, force you to second-guess yourself, and possibly double back on a decision you’ve already made. All of these will make the process more excruciating and will make you unsatisfied with whatever decision you land on. Instead, pick an option early and fully commit to it.

There’s no perfect way to make a decision, and there are very few situations in which a decision is ever “right.” However, with these strategies in tow, you’ll be well-equipped to make more rational, complete, and best of all, satisfying decisions in your life.

How Leaders Create Engagement and Competitive Advantage

purpose

How Leaders Create Engagement

A decent product at a fair price with good customer service may once have been enough. No longer. The bar has moved. Employees and customers want organizations to do some social good along the way.

My friend and bestselling author John Izzo is out with a new book, co-authored by Jeff Vanderwielen: The Purpose Revolution: How Leaders Create Engagement and Competitive Advantage in an Age of Social Good. The book is full of examples and ideas to help you move your organization to one that is infused with purpose.

I recently asked John to share more about his research and work in this area.

 

“Winning in the purpose revolution requires authenticity.” -John Izzo

 

4 Forces Driving Change

You say that there is a revolution happening right now and ignoring it will send your company to irrelevance. What is it and what forces are driving it?

The revolution is a desire among employees, customers and investors to leverage social good with their choices. This is a revolution of AND not OR. Employees want everything they have always wanted, but they also want a job that gives them a sense of purpose in a company they feel is doing good in the world. Customers want products that excite them at a good price, but they also want to leverage good with those choices—and certainly buy things that cause no harm. Investors was a return on money, but the fastest growing funds are those that also promise social impact.

In an age of commoditization, the marketplace is filled with many similar products, and purpose is a way for companies to create brand differentiation based on values, not just product.

What’s driving the revolution are four primary trends. The Millennials are now a global force with a strong set of values around creating social good and having meaning in their work. The boomers are moving into the “legacy” stage of life where the impact they leave starts to compete with ego. The rising middle class in the developing world is another major driver, as people rise out of poverty, they are able to think about the social good in their choices. Finally, business is both blamed for some of the world’s biggest challenges but also increasingly seen as the key to addressing those same issues through corporate social responsibility.

 

“Purpose is a way for companies to create brand differentiation based on values, not just product.” -John Izzo

 

Connect Purpose to Contribution

How do leaders help employees connect purpose to work contribution?

The first step is to have a clearly articulated compelling purpose that is authentic. Starbucks’ purpose is to “inspire the human spirit one cup of coffee at a time” while 3M’s is to “advance every life and improve every business while using science to solve the world’s greatest challenges” (like sustainability).

The second step is to drive job purpose more than job function. Focus on the real impact jobs and teams make. Have every person identify the purpose of their job and the same for every team. Consistently tell stories of how your company makes a real difference. Bring in customers to tell their stories, and create space for employees to do the same. One large bank we worked with started having a standing agenda item in every branch: “How did we make a difference for a client since last time we met?” In the branches that did it, engagement went up 23% and sales went up 18%!

 

Move Purpose to Center Stage