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was 19% higher than it was in 2014. Globally, a hack in 2014 cost companies on the
average $7.7 million. This has led 20% of companies globally to create cyber crimes budget
between $1 million and $4.9 million depending on the scale of the company and ensure its
strict implementation.
This has also led to huge investments in cyber security firms, as the first half of 2015 saw
investors pumping nearly $1.2 billion into start-ups in this industry. According to forecasts,
the investments were likely to reach $77 billion as at the end of 2015. The industry has also
been pegged to reach $170 billion by the year 2020.
According to PricewaterhouseCoopers (PwC), globally, 58 percent of companies have an
overall security strategy; 49 percent conduct periodic threat assessments, 48 percent
monitor and analyze security intelligence actively. However, according to KPMG, 50 percent
of CEOs globally with more than $500 million in revenue are usually not prepared as they
should for a cyber attack.
However worrisome the threat of an attack externally is, companies now also have to worry
about internal attacks from employees. According to a survey by SANS 2015, 74 percent of
Chief Information Security Officers, CISOs are more worried about internal than external
cyber attacks. According to a survey conducted by PwC, 34 percent of cyber attacks in
2015 were from current employees and 28 percent from former employees.
The damage caused by cyber crime is estimated to hit $6 trillion by the year 2021. This has
led to a forecast that there will be an estimated increase in spending by companies for
cyber security between the periods of 2017 and 2021 to $1 trillion. According to Gartner, as
at 2016, more than $80 billion was spent on products and services related to cyber security.
This is however expected to exceed $1 trillion globally within a five year period.
The cyber security industry is one that is fast paced as there is zero percent unemployment
rate in this industry. The industry in fact has unfilled positions that are expected to reach 1.5
million by the year 2019. This shows that there is severe shortage of talent especially as
more cyber crimes are being committed almost every other day as breaches continue to
rise, with security incidents in 2015 at a 38 percent increase than as at 2014.
It has been estimated that by 2020, more than 4 billion people will be susceptible to attacks
over the internet. The United States Government between the periods of 2006 and 2016
has spent over $100 billion. It also budgeted a whopping $14 billion in 2016 for cyber
security.
According to Intel, the number of devices that will be connected might reach 200 billion in
2020; this is from the 15 billion connected devices in 2015. However, Microsoft and Cisco
has countered the report claiming that only 50 billion devices will have been connected by
2020. Regardless of the estimated number, the report points to the same fact that more
people will be online and will be vulnerable to cyber attacks.
At Kaboosh Tech we intend to offer our customers forward thinking cyber security services
that will enable them to remain ahead in whatever industry they are in.
However, because we are established to not only offer services but also generate revenue
as well, we intend to increase our sources of income by offering additional services such as
consultancy service and training. We intend to make as much profit as is legally permissible
under the laws of the United States of America.
Below therefore are some of the services we intend to offer our various customers;
Cryptography
Networking
Programming
System Hardening
In order for us to achieve our vision, we intend to build the best business structure that will
see us employing only the best here at Kaboosh Tech.; our intention is to not only meet but
exceed the expectations of our customers.
Due to the fact that we intend to build a standard cyber security firm here in Mountain View
– California, we have put in place, plans and processes that would ensure that we get it
right from the beginning as we intend to go the extra mile in picking the best employees to
come and work with us at our firm.
Our management team is comprised of the best hands who have not only had several
experiences in the industry that would be of huge benefit to our business but also has been
attuned to our corporate goals and objectives and are willing to work to ensure that we are
able to attain these goals and objectives.
Due to the fact that we would not be running a conventional cyber security firm especially in
regards to the different services that we would be offering, we would be hiring more
employees than necessary to handle the various roles and objectives that will crop up.
Below therefore is the business structure which we intend to build for our cyber security
firm.
Creates the right policies and strategies that will lead the direction of the firm
Assembles the right management personnel and delegates certain responsibilities to
them for the benefit of the firm
Meets and negotiates with high level clients on behalf of the firm
Administrative Manager
Accountant
Sources for, interviews and recruits competent and experienced employees to work
for the firm
Creates human resource policies and ensures that they are strictly adhered to
Ensures that employees undergo training as at when due and that periodic
performance appraisals are also conducted
Responsible for establishing the vision of the organization and creates strategy to
ensure that the organization’s information and technologies are protected
In charge of developing strategies and policies that will handle security related
incidents
Allocates security resources efficiently and for the overall benefit of the organization
Security Administrator
Responsible for conducting market survey that would determine new target markets
for the firm
Meets with and negotiates with clients on behalf of the firm
Conducts direct marketing and sales with a view to generating revenue and attaining
the corporate sales goals of the firm
Cleaner
Security Guard
Patrols the premises and ensures that it is free from any form of trespassers
Watches the surveillance camera in order to forestall any suspicious activity or
person
Carries out any other duty as might be determined by the management
Drivers
Strengths
Our strength lies in the fact that we are offering various services to all our customers, which
has made us get a huge share of the market and to effectively compete against our
competitors. Our employees are not only creative but very capable in ensuring that we are
not only able to meet the demands of our customers but that we are able to surpass
them as well.
Our employees are amongst the best paid in the industry of cyber security and especially
amongst start-ups, this has led to our brand becoming well known in the short while that we
have started. Our chief executive officer has a vast experience in this industry and has
worked in various capacities in other cyber security firms and will therefore bring the right
experience to bear for our firm, thereby allowing us to attain our goals and objectives.
Weaknesses
The cyber security business is a crowded one and so it will not be so easy for us to break
into this market, even as strategic as our location is. Also, because we are basically a new
business, we do not have the staff strength and financial resources that will enable us
effectively compete against our competitors.
Opportunities
The cyber security market is one that has plenty of opportunities both at making a name or
at making money and we fully intend to explore both. We will conduct a market research
that will enlighten us more on the opportunities available to us and how we can use that to
our advantage.
Threats
There are several threats that we are likely to face when starting or running the business
and the first is the fact that we are going to face competitors with similar services coming to
our location to start up their business. Another threat we are likely to face is with changing
trends, but we will ensure that we do all we can to always be proactive so that we can easily
adapt to trends.
Market Trends
The healthcare sector was not spared in 2015 as it was struck by major breaches that saw
80 million records being compromised. This didn’t just start in 2015, because since 2009,
close to one-third of Americans have been victims of breaches in several healthcare
companies. This act has led many healthcare companies to invest more in cyber security so
as to protect the data of their customers.
There are majorly two types of threats that companies face, and there are inside and
outside threats. Inside threats are usually carried out by a company’s current or former
employee. According to PricewaterhouseCoopers (PwC), more than 34 percent of the cyber
attacks that occurred in 2015 were from current employees who were still working with the
firm while about 28 percent were from former employees.
Outside cyber attacks however are often carried out by hackers, activists, government
agencies and organized crime outfits amongst other kinds of people and they are usually
carried out within minutes while using several methods such as RAM scraping, phishing,
spyware or credential theft.
Almost everyone who has connected devices is susceptible to cyber attacks, which would
be basically everyone in the United States of America. However, in order to have an
accurate data as regarding those who we would be focusing on, we intend to conduct a
market research that will allow us know who our true target market are and who might be
our target market in the near future.
The market research we intend to conduct however will allow us identify what is expected
from us by the target market and what we should expect from them as well. In view of this,
we are therefore in the cyber security market to offer our services to the following groups of
people and businesses;
Healthcare companies
Financial institutions
Government agencies
Tech Companies
Celebrities
Small businesses
Educational institutions
Military
Political organizations
Sources of Income
Kaboosh Tech is a cyber security firm that has been established with the sole intention of
generating revenue and maximizing profit in the cyber security industry here in Mountain
View – California. We intend to ensure that we make as much profits as we can not only in
the United States of America but all over the world as well.
Kabbosh Tech will therefore generate income by offering the following services;
Cryptography
Networking
Programming
System Hardening
Sales Forecast
Cyber crimes have led to a lot of companies and individuals investing more in cyber security
in order to protect their data and sensitive information.
Our location in Mountain View – California is very strategic as we are in one of the tech
communities and so have a lot of opportunity to generate the necessary revenue that will
not only sustain our business but have us making enough profits in our first six months of
operation.
We however carried out a critical examination of the cyber crime market cum software and
tech industry in order to determine our chances in the market and what our sales forecast is
likely to be. In conducting our sales forecast, we made use of information and assumptions
from similar start-ups not only here in Mountain View but also in other tech communities
here in California.
Therefore, the sales projections for Kaboosh Tech based on the data and information
gathered are as follows;
N.B: Our projected sale is very moderate compared to what we are actually going to make
but we chose to be on the safe side. The assumptions used in this instance were that there
won’t be any competitor within the time period and that we would not change locations too.
Should however any of the assumptions change, the sales projected figures would either
increase or decrease.
Marketing is a very important aspect for any business either new or existing as this is where
revenue for the business is not only generated in order to sustain and grow the business,
but awareness for both existing and new customers for the business is created as well. The
importance of marketing has seen businesses keeping a separate budget and creating
marketing policies and strategies that will allow it to stand out in the market place.
In view of this, we are conducting a thorough marketing strategy that will enable us know
who our target market is, what it is they want from us, and what we should expect from
them. The marketing research is also essential because it would allow us know what
strategies would be effective in the short and long run and how much we would need to set
aside as a marketing budget that will allow us compete favorably against our competitors.
In this regard, we have engaged the services of a reputable marketing consulting firm here
in Mountain View who have dealt with firms such as ours and created marketing strategies
that were effective for them. Our choice of using a marketing consulting firm rose from the
fact that as this is an intensely competitive industry, we would need all the help we can get
to position our business to a standard that will allow us to achieve all our goals and
objectives.
We also intend to empower our marketing and sales team to ensure that marketing
strategies created for the firm are in line with our core values, goals and philosophies and
will seek to promote our brands at all times. Our marketing team has the right therefore to
modify or remove ineffective strategies that might harm the firm in the long run.
Therefore, the following are the marketing strategies that we will adopt at Kaboosh Tech;
Formally introduce our cyber security firm by sending introductory letter to healthcare
companies, financial institutions, government agencies, tech companies and other
stakeholders in the cyber security market
Throw an elaborate party to launch our cyber security firm in such a way as to
generate awareness about our firm
Place adverts in local and national newspapers and tech magazines as well as on
radio and television stations about our cyber security firm
Engage in direct marketing and sales by negotiating with clients
Install billboards in strategic locations all around Mountain View and around
California as well
Use our social media platforms and other tech platforms to vigorously market our
cyber security firm
Attend seminars and relevant tech and software conferences in order to network and
increase awareness about our brand
Develop trial versions of our cyber security products for users and have them buy the
original as soon as they are satisfied with the services from our products
Use social media platforms such as Facebook, Linkedin, Google Plus and Twitter to
vigorously promote our brand
Create an interactive website and promote contests from our brand or from other
brands
Participate in and sponsor relevant community programs here in Mountain View –
California
Distribute handbills and fliers in strategic locations here in Mountain View
Payment Options
Due to the high value we have for our customers and how sweet we want their experience
at our company to be, we at Kaboosh Tech have come up with different payment options
that will suit all our various customers and whatever preferences they might have.
Therefore, the payment options that we intend to make available to our various clients are;
Cash payment
Payment via check
Payment via online payment portal
Payment via Point of Sale (POS) Machine
Payment via bank draft
Payment via credit card
Payment via crypto-currency
The above payment options were deliberately chosen to be able to cater to the diverse
needs of our clients and they suit our business too. We intend to assure our customers that
these platforms will work smoothly without hitches of any sort.
The cyber security business is not such a hard business to start but if however you intend
setting up a business that is standard then you would need to spend a bit more in ensuring
that the most important aspects are well covered. Mostly the bulk of the capital would be
used in procuring equipment, leasing a facility, buying a van and paying the salaries of
employees for a defined period of time.
Therefore the key areas where we intend to spend our start-up capital on are;
Total fee for registering Kaboosh Tech in the United States of America – $750
Obtaining of the necessary licenses, permits, accounting and customer software as
well as other legal expenses – $2,250
Insurance policy (general liability, workers’ compensation and property insurance)
– $2,000
Leasing of a facility for use for at least five years and carrying out renovations
– $100,000
Cost of hiring a business consultant – $2,000
Operational cost for the first 3 months (salaries of employees and payment of utility
bills) – $150,000
Other start-up expenses which includes (virus detection software, bug tracking, anti-
viruses, software subscription and cable broadband) – $15,000
Marketing promotion expenses (general marketing expenses and promotion
activities towards the grand opening ceremony of Kaboosh Tech – $5,000
Administrative expenses (stationery, phone, computers, printers, furniture, business
cards, office supplies, and stamps) – $30,000
Cost of purchasing an official fairly used van – $20,000
Cost of launching a website – $1,000
Cost of throwing a grand opening party – $5,000
Miscellaneous – $8,000
From the above analysis, it is apparent that we need an estimate of $341,000 if we intend to
start and run a standard and successful business here in Mountain View – California. It
should be noted that the bulk of the capital will go into leasing a facility for a period of five
years, paying the salaries of employees as well as utility bills for a period of three months,
purchasing a van for official errands as well as getting the necessary equipment to start our
cyber security business here in Mountain View – California.
Generating Funding/Startup Capital for Kaboosh Tech Business
Kaboosh Tech is fully owned and run by Mr. Kab Oshe. Due to the fact that we do not
intend to seek for an external investor to be part of our business, we will therefore source
for funding from other sources. The following are the different areas where we intend to
source our start-up capital from;
N.B: We got the sum of $100,000 from our personal savings and sale of stocks. We
registered in a crowdfunding site and were able to generate the sum of $100,000 for our
cyber security business. We have been able to secure the sum of $141,000 from our
commercial bank after signing several documents. The loan is to be repaid in 7 years at the
rate of 3% per annum.
Cyber Security Business Plan – Sustainability and Expansion Strategy
Ensuring that our business not only exists but is sustained for as long as we want to remain
in business is a priority to us and we have therefore concentrated on the factors that we
know will enable us sustain and expand our cyber security business here in Mountain View
– California. The factors that we intend to concentrate on are ensuring that we build the
right business structure, engage in effective publicity and advertising strategies, as well as
ensure that we retain a high percentage of our clients.
Finally, we understand that without our customers, our business is going to fail, and so we
pay a high amount of attention to our customers. We understand how important they are to
our business and we will ensure that all employees adopt an excellent customer culture.
Check List/Milestone