In the day-of-age of social media, millennials showcase a ton of their life on social media. Studies have shown that 90% of young adults use social media every day and one-third of that 90% is millennials. Millenials have shown to be more open about what they post on social media from how old they are, their first and last name, and their place of birth. Even though more than 25% of millennials have been either hacked or had information stolen online, studies have shown that more than half of millennials don't believe that a cyber crime can happen to them. It's not limited to millennials sourced from A Beginner's Guide to Online Privacy 91% of North American adults felt they had lost control over their personal data, with 86% of them attempting to mask their online transactions.

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It isn't until recently has protecting data online has been prioritized. This leaves an open market that hasn't been fulfilled yet in cybersecurity startups. There is tons of money to be made in the cyber security industry, but- before you dive in- here are 5 things you need to know before launching your cyber security startup.

1.Take special care of data.

Data leaks are horrible and can cause catastrophes in your business. Data leaks can contain important information viable to your business. Customers can be affected for the rest of their life from one leak. Those affected can be victims of identity theft, fraud, or loss of valuable assets -like their credit cards or their banking information. Keeping your customer's data safe should be your number one priority.

2.Have Backups ready.

In the case of a Data leak -like stated before your customer can lose tons of information- getting your customers data back can be extremely hard. Hackers are known for using customers private information for blackmailing large cooperations. Most of the time hackers will ask for an untraceable currency, like Bitcoin, in exchange for customers information. However, if you have most of the information backed up, you will have an extra copy of your customer's information in handy. Having backup software in your startup's software is also important in the case of a massive error; this error can be a huge mishandle of data or power outage.

3.Invest in cloud servicing

Cloud software is the best method of backing up data. Cloud software is the most secure way of storing your backups of customers information. Cloud storing might be a bit more expensive depending on the type of server you buy. However, the investment can do good for your cyber security company; the name cloud software is synonymous with 'good security' due to companies marketing the hell out of it. And you get the added benefit of actual good backup software: that's a win-win.

4.Know the laws of online privacy

As a cyber security company, you must memorize the laws that are attached to cyber security. Different countries have different attitudes towards online privacy. Researching and understanding each law so you don't disobey it and avoid lawsuits can help your cyber security advance without any bumps in the road.

5.Know the difference between privacy and security

There is a thin line between privacy and security that shouldn't be crossed. However, many cyber security companies and big social media platforms don't know where this line is at. It's constantly crossed and controversial reports on social media spying are reported on a daily basis. Knowing the distinction between the two can protect your companies reputation for the best.

Author's Bio: 

Pritom Das is a Tech Entrepreneur, a business development consultant, a motivational speaker, and a freelance writer. He has Worked Exclusively as a full-time Freelance technology&lifestyle writer for 5 years. He is The Founder Of Upcoming Travel Based Networking site "TravelerPlus"