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Cyber Security Business Plan Details
Cyber Security
Course
Business Statistics 1 (DMS201)
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University of Nairobi
Academic year: 2023/2024
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Please transfer these details (edit to customize then into your preferred language and cost)
to the Cereals business Plan I made for my customer. Let it adopt it’s format even it can
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Cyber Security Business Plan
1. Industry Overview
According to Ponemon Institute, within the year 2015, the costs associated with cyber
crime was 19% higher than it was in 2014. Globally, a hack in 2014 cost companies on the
average $7 million. This has led 20% of companies globally to create cyber crimes budget
between $1 million and $4 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 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 2022.
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 2022. 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 2022 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 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 2022, 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 0 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
2022; 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
2022. 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.
2. Executive Summary
Kaboosh Tech is a standard and leading cyber security firm that is based in Mountain View
– California here in the United States of America. We are in business to design cyber
security solutions for our various clients – domestic and corporate. Asides from our core
services, we also offer consultancy, training and technical support to our numerous clients.
Our location here in Mountain View – California is a very strategic one as we are in one of
the most engaging tech communities in the whole United States of America, which
therefore means that we are close to all the relevant tech companies, and other assorted
stakeholders.
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
Consultancy and Advisory Services
Technical Support
Training
4. Our Mission and Vision Statement
Our vision is to ensure that we are amongst the top five cyber security firms within
three years of starting our business. We also intend to be known for our
innovativeness in the cyber security world.
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.
Our Business Structure
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.
Chief Executive Officer
Administrative Manager
Accountant
Human Resources Manager
Chief Information Security Officer
Security Administrator
Customer Service Executive
Marketing and Sales Team
Cleaner
Security Guard
Drivers
5. Job Roles and Responsibilities
Chief Executive Officer
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 creating system defense against unauthorized access or
modifications from external threats
Configure the right security tools such as anti-virus software, firewalls and patch
management systems on behalf of the firm
Performs on behalf of the firm, vulnerability and networking scanning assessments
Customer Service Executive
Responds correctly to customers inquiries and orders
Remains aware and informed of company policies as well as industry trends in
order to give customers accurate information
Keeps an updated customer database for the firm
Marketing and Sales Team
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
Ensures that the premises remains clean at all times
Ensures that cleaning stock are always in supply and that depleted stock are
replenished
Carry out any other duty as might be assigned by the management
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
Runs official errands on behalf of the firm
Ensures that traffic rules and regulations are obeyed and a logbook kept on behalf of
the firm
Carries out preventive maintenance on the vehicle on behalf of the firm
6. SWOT Analysis
Our intention to build a standard and world class cyber security firm here at Mountain
View – California has led us to seek the services of a reputable business consultant who
understands the market thoroughly to take a look at our business concept and determine if
we are likely to survive in the industry we intend going into.
Using four major attributes to analyze our business – strengths, weaknesses, opportunities
and threats – the business consultant was able to bring our some facts that we are going to
use in determining how well placed we are to start this business.
Therefore the results of the SWOT analysis conducted on behalf of Kaboosh Tech are;
changing trends, but we will ensure that we do all we can to always be proactive so that we
can easily adapt to trends.
7. MARKET ANALYSIS
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.
8. Our Target Market
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
Our competitive advantage
Our intention of starting Kaboosh Tech is to ensure that we offer our clients cyber security
services that will allow them remain proactive ahead of their attackers. We intend to be
amongst the top five preferred brands by our target market and among the top three cyber
security firms in the United States of America. However, in order for us to achieve this feat,
we have come up with several competitive strategies that will allow us to favorably
compete against our competitors.
We understand the cyber security market and most of our products are preventive in
nature, which causes more companies to prefer our security designs that will allow them
remain proactive in business.
We have a vast number of experienced people on board who understand the cyber security
market and who know how to bring our start-up from scratch to become a major force to
Training
10. 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;
First Fiscal Year-: $500.
Second Fiscal Year-: $950,
Third Fiscal Year-: $2,000,
N: 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 Strategy and Sales Strategy
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
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
12. Our Pricing Strategy
Determining the right price for our products and services here at Kaboosh Tech will
depend on a whole lot of factors such as how strong our products are, what category of
products and services our customers will be demanding, how unique the products are,
what our competitors are offering and what our overhead and running expenses would be.
Because of how competitive the market is, we intend to offer discounted price on some of
our products as well as other incentives for the first two months of operation in order to
increase the awareness for our product and attract more customers to purchase from us.
Even though we would be offering a discounted price, our analysis has shown that while we
might be having a low gross margin, we would not be running at a loss.
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.
13. Startup Expenditure (Budget)
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 – $
Obtaining of the necessary licenses, permits, accounting and customer software as
well as other legal expenses – $2,
Insurance policy (general liability, workers’ compensation and property insurance)
– $2,
Leasing of a facility for use for at least five years and carrying out renovations
– $100,
Cost of hiring a business consultant – $2,
Source for part capital from online crowdfunding sites
Apply for loan from commercial bank
N: 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.
14. 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
Business Name Availability Check: Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Conducting feasibility studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing/Promotional Materials: In
Progress
Recruitment of employees: In Progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In
Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party/launching party planning: In Progress
Establishing business relationship with vendors – wholesale
suppliers/merchants: In Progress
Purchase of trucks: Completed
Was this document helpful?
Cyber Security Business Plan Details
Course: Business Statistics 1 (DMS201)
89 Documents
Students shared 89 documents in this course
University: University of Nairobi
Was this document helpful?
Hi Sir,
Please transfer these details (edit to customize then into your preferred language and cost)
to the Cereals business Plan I made for my customer. Let it adopt it’s format even it can
adhere to the cerals budget but with content narrated below.
Thanks.
Cyber Security Business Plan
1. Industry Overview
According to Ponemon Institute, within the year 2015, the costs associated with cyber
crime 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 2022.
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.
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