StartUp Founders: Take Security, Trust & Compliance Seriously From Day 0
Some founders believe that security, trust, and compliance are features they don’t need to prioritize at the initial stages of their business. It’s a common misconception that such matters can be fixed later down the line. However, this is far from the truth. Security, trust, and compliance are foundational pillars of your organization that cannot be ignored.
Brad Smith, the former President and Chief Legal Officer at Microsoft, once said: “As technology continues to evolve, it brings new opportunities and risks that require thoughtful attention to security and privacy. Companies need to take a risk management approach to these issues and recognize that achieving a secure and trusted digital environment is not just about technology, it’s also about people and processes.”
This is especially true when it comes to creating a secure, trustworthy, and compliant organization. From day one, it’s crucial to have a focus and understanding of how you are going to achieve this. By doing so, you can establish a culture that will compound as you scale.
As the custodian of your users’ data and experience, you have an obligation, a duty, a moral obligation to be a secure-first organization. Ignorance is not an excuse. Your users’ trust is essential to the success of your business, and failure to protect their data can have significant consequences. A single data breach can destroy your reputation and lead to legal consequences that can be financially devastating.
Take, for example, the 2017 Equifax data breach that affected over 147 million people. The company’s negligence led to a $575 million settlement and irreparable damage to their reputation. This is why it’s crucial to prioritize security, trust, and compliance from the start.
These are not just features that can be addressed later. They are foundational pillars of your organization that require a proactive and dedicated approach.