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May 24, 2018, 9:54 am

Why Investing Proactively in Cybersecurity Should Be at the Top of Your Budget

by: The Financial Blogger    Category: More Financial articles

When it comes to business, the golden rule is that everything is always changing – and your business should change with it if you do not want it to perish. Entrepreneurship is not only about that great idea but also about knowing how and when to adapt to changes. As recent ransomware attacks have demonstrated, cybercrime is here to stay, and hackers seem keen to keep attacking companies rather than individuals – which means that companies have to adapt to this hostility, starting off by changing their budget.

How to Approach Your Budget

Changing a budget priority is not only about reallocating funds. It is mostly about employing a different perspective on things. What was perhaps once a footnote in how spending was approached has gradually emerged to the forefront of budgeting. Just like with the way advertising and marketing needs have evolved to adapt to the rapidly changing technology or the banking solutions that emerged to make online shopping easier, so has online security grown to occupy a much bigger space in a company’s needs. Any company today that does not have a dedicated IT department and an incident response plan is an easy target for cybercriminals wishing to steal sensitive data and extort companies for ransom by deploying malicious software.

Source: Pexels

Know the Enemy

In order to make sure that you allocate sufficient funds into cybersecurity, first you need to understand where the risk is coming from and at how much danger you are. For example, some types of attacks like spear phishing are more sophisticated and thus demand closer attention. Similar to phishing, spear phishing is a social engineering attack where a hacker disguises as a trusted entity in order to lure the victim into clicking on a malicious link that will give the perpetrator unauthorized access to data, install malware or even launch the first phase of an advanced persistent threat (APT). However, spear phishing is much more tailored than simple phishing rather than automated or sent en masse and thus more dangerous, because the recipient of the message is more likely to consider it genuine. Companies need to invest funds not only in cyber tools to fend off hackers but also in personnel training, as this would be the first and often most crucial line of defense in the case of tailored attacks like spear phishing.

Source: Pexels

Cyberattacks Are Bad for Business

Being proactive is key, as cyberattacks are not only bad for business in terms of disrupting service and turning clients away, they are also very expensive. According to the US White House’s Council of Economic Advisers study, the cost of cybercrime in the US economy amounted to a number somewhere between $57 billion and $109 billion, just for 2016 alone. This translates to a figure between 0.31% to 0.58% of that year’s GDP, which is a huge figure when it comes to a GDP of a country like the US. According to the report, the industries that were contributing the most to the country’s economy were hit the hardest, including manufacturing, government operations, and healthcare. Unsurprisingly, the finance sector was at the top of the number of incidents list, with a record of 471 breaches. The report, which became public in 2018, also suggested that insufficient funding in cybersecurity might be part of why the problem is so acute.

It is not easy to keep adapting to a changing landscape. Still, budgeting in for cybersecurity for your firm has evolved from simply a wise choice to an absolutely essential decision.

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May 23, 2018, 8:53 am

Tips for Playing Real Money Online Poker

by: The Financial Blogger    Category: More Financial articles

Source: Pixabay

Real money online poker can be tough, which is why most online poker players start on play money tables. This way, they can learn the basics without the risk of losing actual money. But, eventually, an online poker player would have to level up and try their hand at playing with real money. Here are some helpful tips for real money poker players so you can avoid committing the costly mistakes most new players make.

Establish Your Bankroll

The first thing every online poker player needs to learn is how to establish a bankroll. You will need to know how to manage your bankroll and the amount that you are playing with. For players who are just starting out, it is best to stick to tables and tournaments that have smaller blinds or sit-and-gos with low buy-ins.

Take Control of Your Spending

As a beginner, it is best to stick with just one table until you have gained enough experience and are sure that you have your game, and your bankroll, under control. Most online casinos offer several different payment methods to make it easier for players to create an account. If you take a look at the online casinos listed on Realmoney.ca, you will see that adding money into your account can be made very fast and convenient by using credit or debit cards, e-Wallets, eCheck, and traditional bank transfers; all you need to do is ensure that you play with what you can actually afford.

SourcePixabay

Know Your Opponents

There is no single strategy in real money poker, and you can expect your opponents to be using a lot more strategies and tactics compared to those in play money games. A few things to take note of, especially by those who are just starting out in real money poker: your opponents will be calling your bets a lot, so you need to bet with hands that have value, instead of making bluffs. If you do have good hands, do not hesitate to play them aggressively. It is also better for you to bet and get calls instead of trying to make sophisticated plays.

Find the Table That Suits You

There are a lot of table variations featured in online poker rooms and there are many ways to play poker, so you will need to find the table that best suits your playing style. Try more than one variation, as each one has its strengths and weaknesses and it will be beneficial for you to see which one you are most comfortable playing at the real money poker table. And, while online card rooms allow poker players to sit at more than one table at a time, a beginner would be better off focusing on one table at a time.

Playing real money poker can mean taking greater risks and taking note of these tips can be helpful in preparing you to become a smarter player. By learning the basics of the game, you can avoid making costly mistakes that most newbie online real money pokers make.

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June 27, 2013, 6:00 am

Why Would You Pay Over $3 For a Cup of Coffee?

by: MD    Category: More Financial articles

Why would you pay over $3 for a cup of coffee?

That’s what a buddy once asked me. He proceeded to tell me what a rip off this is and how I already have a coffee maker/Tassimo machine.

The reality is that I do my best writing at coffee shops. I just can’t get into the zone in my room. There’s no sense of urgency and I get easily distracted by everything. So I hit up a coffee shop, grab some coffee, and start writing like an animal. When I’m complete or just tired, I go home.

I know. I get it. Coffee at a coffee shop is a rip off. It’s not cheap and it’s over-priced.

$3 is too much for a cup of coffee. We can all agree on that generally speaking.

So why the hell do I spend this much money on coffee?

Sometimes in life you have to move past the tactical stuff and the boring details to think about deeper stuff. You can’t always just worry about the same minor details.

I do my best to study top-performers and successful friends. I want to see what they do differently.

They usually have one thing in common. They don’t stress over the excruciating minutia. They focus on the next big issue and something higher to tackle. They solve major problems consistently.

One of my friends wasn’t happy with his job. While everyone else at the job complained about the management and bashed each other, creating a toxic environment, he did something different. He took evening courses and earned his degree in a field that guaranteed him work. He found a new job eventually and left his old place of work. He knew that complaining about the same crap would get him absolutely nowhere. Now he makes more money than ever before.

Do you stress about the minor stuff?

We all stress about such minor stuff and it’s never worth it. I get stuck in this trap sometimes. I worry about responding to comments and emails and I forget to tackle higher issues.

Why do we stress about the minor stuff? Because it’s safe and easy.

After I finished reading The 4-Hour Workweek, I posted the following note on my desk:

Are you inventing things to do to avoid doing the important?

Whenever I’m aimlessly surfing the web, I look at this and get myself back into gear.

Are you thinking big enough?

I’m certainly not. I’m not strategic enough at all. I know this. I respond to useless emails and spend hours doing nothing. We’ve already covered this angle.

Today, I just wanted to throw out some random thoughts on strategy and higher-level thinking:

  1. We have to think past today. Spending a few bucks today for a lunch with a successful person might cost you some money. You never know what doors it will open up in the future for you.
  2. Will this matter in a week? That’s what I ask myself now. We can laugh off most of our problems and embarrassments by asking if they will even matter in a week from now. They usually don’t matter in a few minutes.

Back to the friend bashing my idea to go to the coffee shop to drink coffee and use my laptop. He usually just sits around and does nothing. He goes on Facebook and it takes him forever to respond to a basic email. Maybe, hitting up the coffee shop isn’t such a bad idea to get some work done.

Sometimes you have to create systems for yourself.

I’ve come to realize that will-power will only take you so far. You have to create some systems and barriers for yourself to improve your behavior.

For example, if you don’t want to eat junk food, then don’t have any around the house. It’s hard to eat a bag of chips in the middle of the night when you don’t have one.

When I want to get work done, I hit up a coffee shop, drink expensive coffee and get work done. It also doesn’t hurt seeing some attractive young ladies.

When it comes to the gym, I pay extra for my membership because it gives me access to certain classes. I know that I can’t miss a class because someone will text me and make fun of me. And I’m the king of peer pressure, so I certainly don’t want to be called out for missing a class.

So what do you guys think: is it worth spending $3 on a cup of coffee? Are you a strategic thinker?

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