Breaking News: Downtime Kills Small Businesses

Downtime is bad news for any business whether big or small.

A recent two-hour New York Times’ downtime occurrence sent Twitter ablaze and their stock price plummeting.

Google going down for one to five hours resulted in lost revenue up to $500,000 and decreased overall web traffic by 40%.

We know what you’re thinking. Holy crap, Google makes $100,000 an hour? Yeah… insane, huh?

While the hourly cost of downtime for a small-to-medium sized business won’t be nearly as large as that astronomical Google figure, downtime is often more detrimental to smaller companies. Smaller enterprises are more susceptible to downtime and are neither large nor profitable enough to sustain its short and long-term effects.

Downtime Leads to Unhappy/Unproductive Employees

Even the happiest of employees become dissatisfied when they can’t perform basic day-to-day job functions or properly service customers or clients.

While some employees may use downtime as an excuse to lean back, put their feet up, and comfortably collect their hourly pay, we’re talking about those employees who come to work to actually work.

And don’t forget your IT guy or tech crew. They can’t necessarily sit back and twiddle their thumbs when downtime occurs because they’re typically taking the brunt of the storm. They will ultimately grow tired of the daily routine of having to put out fires and having neither the additional manpower nor resources to change things for the better.

These things lead to high employee turnover and the expenses that come with training and re-training a revolving door of employees.

Downtime Leads to Customer Dissatisfaction

Customers and clients grow weary whenever critical components of your operations – or the services they either expect or pay for – cannot be accessed.

Nearly 50% of customers will move on to a competitor if they encounter downtime of five minutes or more. These customers represent significant lost revenue.

While some suggest this is a bigger problem in the retail sector, other types of businesses are impacted as well. Have you ever clicked a link from search engine results only to quickly bolt when the page didn’t load, you couldn’t complete an online transaction, or you were greeted with a “Technical Difficulties – Be Back Up Soon!” message?

Did you give up on finding what you were looking for or did you wait it out? You did neither. You went back to Google and found someone else offering a similar service or product that satisfied your yearning for instant gratification.

Downtime Ruins Your Reputation

One of the most commonly overlooked consequences of downtime is the hit your company’s reputation takes online. In this age of social media, one person’s bad experience is broadcast to dozens or even hundreds of followers. Bad news spreads faster than ever and has lasting repercussions.

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” — Warren Buffet.

Protect Your Bottom Line

The challenge for small businesses has always been how to minimize single-point-of-failure downtime using their limited IT resources. This is why downtime kills so many small businesses. They can’t prevent it and they can’t react quickly enough.

Thankfully, there are end-to-end business continuity solutions available today that integrate Remote Monitoring and Management (RMM) software, 24/7 access to a Network Operations Center (NOC), and advanced backup and disaster recovery solutions to alleviate this issue.

Not only do these methods minimize downtime and get businesses back up and running quickly, but they can reduce the cost of technology infrastructure maintenance by as much as 80 percent.

It’s time that small businesses stop being victims to the silent killer that is downtime.

Contact us at SpeedWise IT Services

Why SMBs Must Proactively Address the Threat of Mobile Hacks

More cyber criminals are targeting small-to-medium sized businesses. One reason for this is too many workplaces have insufficient bring-your-own-device (BYOD) policies in place. Some have none at all. Although firms are generally more knowledgeable about network security risks than in years past, they still woefully underestimate the security vulnerabilities linked to mobile devices like smartphones and tablets.

This is a real cause for concern since data breaches have the ability to put many already financially challenged SMBs out of business.

If customer/client data has been breached, there could be potential litigation costs, and naturally, lost goodwill and an irreparable hit to brand or company reputation.

Don’t Just Say You’re Worried About the Bad Guys… Deal With Them

SMBs say they view network security as a major priority but their inaction when it comes to mobile devices paints a different picture. A recent study found that only 16% of SMBs have a mobility policy in place.

Despite the fact that stolen devices are a major problem in today’s mobile workforce, only 37% of mobility policies enforced today have a clear protocol outlined for lost devices.

Even more troubling is the fact that those firms who have implemented mobility policies have initiated plans with some very obvious flaws.

Key components of a mobility policy such as personal device use, public Wi-Fi accessibility, and data transmission and storage are often omitted from many policies.

Thankfully, most SMB cybercrimes can be avoided with a comprehensive mobility policy and the help of mobile endpoint mobile device management services.

A Mobility Policy Is All About Acceptable/Unacceptable Behaviors

Your initial mobility policy doesn’t have to be all encompassing. There should be room for modifications, as things will evolve over time. Start small by laying some basic usage ground rules, defining acceptable devices and protocols for setting passwords for devices and downloading third-party apps. Define what data belongs to the company and how it’s to be edited, saved, and shared. Be sure to enforce these policies and detail the repercussions for abuse.

Features of Mobile Device Management Services

MDM services are available at an affordable cost. These services help IT managers identify and monitor the mobile devices accessing their network. This centralized management makes it easier to get each device configured for business access to securely share and update documents and content. MDM services proactively secure mobile devices by:

• Specifying password policy and enforcing encryption settings
• Detecting and restricting tampered devices
• Remotely locating, locking, and wiping out lost or stolen devices
• Removing corporate data from any system while leaving personal data intact
• Enabling real time diagnosis/resolution of device, user, or app issues

It’s important to realize that no one is immune to cybercrime. The ability to identify and combat imminent threats is critical and SMBs must be proactive in implementing solid practices that accomplish just that.