Guest Mike Levin, deputy CISO, 3M, discusses the challenges faced by cybersecurity startups, including understanding the market and customer needs. The importance of integration and coexistence of cybersecurity products with existing ones is emphasized. Incorporating customer feedback and listening to the market are key to building a successful cybersecurity startup.
Running a cybersecurity startup requires different skills beyond technical expertise, such as customer adoption and market research.
Cybersecurity startups should prioritize understanding customer pain points to effectively meet market needs.
Deep dives
Common Mistake: Running a cybersecurity startup like a cybersecurity program
One common reason for the failure of cybersecurity startups is running them like cybersecurity programs, rather than as businesses. Many founders fail to understand that running a successful cybersecurity startup requires different skills and strategies beyond technical expertise. This leads to a lack of focus on important business aspects such as customer adoption, market research, and building a viable product. By neglecting these areas, cybersecurity startups often struggle to achieve commercial success.
The Importance of Understanding Customer Pain Points
Another common reason for the failure of cybersecurity startups is not understanding customer pain points. Startups often focus too much on building their product or technology without conducting a thorough analysis of the actual problems customers are facing. This lack of customer-centric approach leads to a disconnect between the solution being offered and the actual needs of the market. Successful startups understand the concept of a pain point and put significant effort into meeting these needs effectively.
Avoiding the 'Single Pane of Glass' Trap
Many cybersecurity startups fail because they fall into the trap of trying to be a 'single pane of glass' solution. This refers to the belief that their product can replace all other existing security solutions and provide a comprehensive solution. However, the reality is that most organizations have already invested in various security products and require solutions that can complement and integrate with their existing ecosystem. Startups that fail to understand this end up offering a product that is not aligned with market demand and struggles to find traction.
The Importance of Playing Nicely with Others
Startups in the cybersecurity space often struggle when they don't consider the importance of integration and collaboration with other products in the security ecosystem. Focusing solely on their own solution without considering how it fits into the broader market can lead to limited adoption and missed opportunities. Successful startups recognize the need to work cohesively with other solutions, ensuring seamless integration and enhancing the overall value proposition for their customers.
All startups are an inherently risky proposition, but what are the specific challenges for startups in our industry?
What's unique about cybersecurity startups?
What's the most common reason you've seen a cyber startup not succeed?
Thanks to our podcast sponsor, RevealSecurity!
Reveal Security ITDR detects identity threats - post authentication - in and across SaaS applications and cloud services. Powered by unsupervised machine learning, it continuously monitors and validates the behavior of trusted human users, APIs and other entities, accurately detecting anomalies that signal an in-progress identity threat. Visit reveal.security
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode