Why Tech Companies Suck at Risk Analysis

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In the tech world, we tend to focus on the tasks that directly correlate to our work. But if we only focus on things like fixing firewalls and cybersecurity without understanding our clients - that is what makes tech companies suck at risk analysis.

That is not to say that what we do is unimportant. Our clients would not have hired us if they did not need our services. What is important is that we understand that to our clients, there is a difference between technical risk and business risk.

It is only natural that tech companies focus on technical risk. It’s what we do! But, you must remember that business risk will always outweigh technical risk to your client. Make it a point to talk to your customers. Understand what they see as risks and threats to their company, and then align your services with their needs. For example, if you have a client that runs a dog kennel, their main concern is the health and safety of the animals. If you only talk to them about everything you have done to improve their cybersecurity, your words will fall on deaf ears. But, if you can explain to them how improvement to their cybersecurity helps oversee all dogs that they are caring for and allows owners to safely access live streams of their pets from work, you have proven how your goals match those of your customers. Now your client has more features to sell to their customers, and you have opened the door for your business to provide additional services to build an ongoing relationship.

Aligning technical risk with business risk benefits you and your customers by providing a clear path to success. It helps your clients prioritize the factors that threaten their business and enables you to understand how your services help them meet their goals. Use this as a foundation to expand your business.

Business Risk x Technical Risk = Opportunity

When your client understands how the risks and threats to their business can be resolved by addressing technical issues, it allows you to cultivate your business relationship and the opportunity to offer additional services. In turn, it is your responsibility to ensure that you understand your customers. Focus on what your clients care about and what is most important to them. Learn how to identify the problems they face and then mitigate them to how IT can help prevent problems from happening. This strengthens the trust your clients have in you, provides direction for you and your client and creates a base on which you can expand your services.

Tech companies don’t have to suck at risk analysis. We just need to listen and understand how our work impacts client businesses and reduces the threats they face. Building client rapport is more than just doing a good job. Remember, we have conversations, not presentations! Take the time to understand what they value. Turn your risk analysis from sucking to spectacular!