Cybersecurity RIsks: How They Can Affect Small Businesses

Transcript

Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today they are talking about an important subject for all small businesses: Cybersecurity.

Cyber hacking has equally been affecting big and small businesses. Today’s guests are experts in this field, who are talking about how to protect your business from cyber hackers.

Christian Espinosa is a cybersecurity expert who built and sold a company where he worked on protecting bigger companies against cyber hacking; in today’s interview, he highlights the importance of training people to make sure everyone is taking the right actions to achieve a safer business environment. Michael Drath is Vice President at Magaya Insurance Services Inc., an insurance provider, who has been working along with Transworld Business Advisors assuring safe transactions. Michael provides help to his clients for them to be covered with cybercrime insurance and remain safe during all business deals.

Listing of the week: Jenna Porzillo (Bel Air, Maryland) is selling a nationally known franchise specialized in restoration where the leads come automatically to you since they work with insurance companies that provide all clients. Call Jenna Porzillo at (443) 694-5013 or email [email protected].

Key Takeaways

Key takeaways:

[6:43] Christian Espinosa shares about himself and his journey as an entrepreneur.

[8:20] What is the cybersecurity war?

[10:25] How the cybersecurity issue may affect a small business.

[12:53] How can the “smartest person in the room” mentality be combated?

[15:50] Christian shares about the process of selling his business.

[17:52] Christian shares the lessons he learned during the sale process.

[20:01] Christian talks about his current focus and plans for the next two years.

[22:11] Deal of the week: Chris Bruner and Bill Kleinschrodtis (Goldcoast) sold a microbrewery expanding along the East Coast. Great location and assets. List price: $1.4 million, buyers made an offer of $1.35 million and close in three weeks.

[26:38] Michael Drath talks about his career journey.

[28:26] What kind of cyber risks are there for businesses?

[29:50] Where does the liability fall in a cybersecurity issue?

[31:40] What is the first step that business owners should take?

[34:06] Michael talks about the industries that must have these policies in place against cyber hacking.

[38:14] Michael extends his advice for business owners wishing to take the first step to assure their cybersecurity.

[41:08] Listing of the week: Jenna Porzillo (Bel Air, Maryland) is selling a nationally known franchise specialized in restoration where the leads come automatically to you since they work with insurance companies that provide all clients.

Mentioned in this Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on Linkedin

Transworld on Facebook

Call us — (888) 711-9018

Email us at [email protected]

Learn more about Christian Espinosa.

The Smartest Person in the Room: The Root Cause and New Solution for Cybersecurity, by Christian Espinosa

Email Chris Bruner at [email protected] or call (251) 237-1030.

Email Michael Drath at [email protected] or call (786)363-0497 or (954) 873 7997.

Call Jenna Porzillo at (443)694-5013 or email [email protected]

Mentioned in This Episode

• The Deal Board Podcast
• Transworld Business Advisors
• The Deal Board on Facebook
• The Deal Board on LinkedIn