Your Greatest Asset

This week I’ll be running training for executives on Information Security, Cybersecurity and Privacy Protection (or ISO 27001). The question I will be asking them is what is their greatest asset?

There is a whole lot of data on cyberattacks worldwide and in Australia, and the threat is real, but it always comes back to “what does that mean to me?”

So, I will be asking the attendees to think about what is their most valuable asset?

Some might say their equipment, some might say their people, their inventory, or their IP. And they might be right. But I would also like to suggest that in every business there is another asset that is sometimes hard to quantify — their relationship with their customers and other stakeholders.

This could be linked to reputation, but I like to use the word Trust.

When a customer does business with us, they are potentially sharing their personal information, their financial information, their money with us, and they are planning (even a tiny bit) of their future with us or with our product or service. There is more trust in that relationship than we often consider.

  • If we then lose their personal data to dark web thieves, will we lose their trust?
  • If we can’t deliver that product or service for the future they have planned, will we lose their trust?

And if we lose their trust, the impact on our business can be significant. The next customer will probably trust us less and cost us more. What is trust worth to your business?