What if the best way to protect your business isn't copying what the successful companies do, but avoiding what the failures did wrong? Welcome to reverse benchmarking, the cybersecurity equivalent of learning from other people's face-plants so you don't repeat them.
In this episode, Noel and Mauven flip traditional benchmarking on its head. Instead of asking "what are the best companies doing?", they explore the far more revealing question: "what did the disasters get catastrophically wrong?" From the Target breach via an HVAC vendor to ransomware attacks on UK holiday parks, the hosts dissect spectacular cybersecurity failures to extract practical lessons for small businesses.
You'll discover why copying enterprise best practices often backfires for SMBs, how compliance creates dangerous false security, and practical ways to build your own "disaster library" of lessons learned. Plus, the hosts reveal why some of the worst cybersecurity advice comes from studying successful companies rather than failed ones.
This isn't just negativity packaged as strategy. It's a systematic approach to identifying your business's genuine vulnerabilities by examining where others fell through the cracks. Because in cybersecurity, knowing what not to do is often more valuable than copying what others claim works.
Why This Episode Matters
One in three small businesses were hit by cyberattacks last year. The average cost? A quarter of a million pounds, with some reaching seven million. But here's the crushing statistic: 60% of small businesses close within six months of a cyber incident.
Traditional benchmarking tells you to copy what big enterprises do. Reverse benchmarking shows you what kills businesses like yours, so you can avoid becoming the cautionary tale in someone else's podcast.
Key Takeaways
1. Traditional Benchmarking Often Fails SMBs
Copying FTSE 100 security on a shoestring budget is a losing gameEnterprise solutions don't scale down effectivelyBy the time you copy last year's "best practice," threats have evolvedContext matters more than copyingBeing compliant doesn't mean you're secureCompliance is like passing your driving test - it proves you know the rules, not that you'll never crashCheckbox culture creates dangerous complacencyAttackers don't check your certifications before striking3. The Statistics Are Sobering
One third of SMBs hit by cyberattacks annuallyAverage breach cost: £250,000Some breaches: £7 million60% of small businesses close within six months post-attackNCSC estimates 50% of UK SMBs will experience a breach each year4. Real-World Disasters Teach Practical Lessons
Target breach: Lost $162 million because HVAC vendor credentials weren't properly segmentedColonial Pipeline: Shutdown of major US fuel infrastructure from weak VPN passwordUK holiday park ransomware: Peak season attack forced cash-only operationsCommon thread: Basic security fundamentals ignored5. Third-Party Risks Are Existential
61% of breaches involve third-party accessSmall vendors create backdoors into larger networksYour security is only as strong as your weakest supplierSegment vendor access ruthlessly6. Practical Implementation Steps
Build your own "disaster library" of relevant failuresHold quarterly "what went wrong" review sessionsMap your business to failed case studiesAsk "could this happen to us?" for every breach you read aboutCreate no-blame culture for reporting near-missesDetailed Show Notes
Introduction (00:00 - 01:24)
Noel poses a simple question: in the pub, what do people talk about? Their wins, mostly. This episode does the opposite by examining failures instead of successes. The hosts introduce "reverse benchmarking" as the Darwin Awards of cybersecurity, learning from others' digital disasters rather than bragging about fancy firewalls.
Key Quote: "Learn from other people's face-plants so we don't repeat them."
What Is Reverse Benchmarking? (01:24 - 03:46)
Traditional benchmarking means copying what successful companies do. Reverse benchmarking flips this around: study the worst failures in your industry and make certain you don't repeat them.
The Problem with Traditional Benchmarking:
Big enterprises have massive IT teams and unlimited budgetsTrying to copy enterprise security on SMB resources is futileBenchmarking looks backwards - by the time you implement, hackers have moved onIf everyone in your industry has the same gap, benchmarking won't reveal itOne third of SMBs were hit by cyberattacks in the past yearAverage cost: £250,000, with some reaching £7 million60% of small businesses close within six months of a cyberattackMost small business owners still think they're too small to be targetedUK Context: The National Cyber Security Centre (NCSC) estimates around half of UK SMBs will experience a breach each year. Coin flip odds. If you're sitting in a board meeting saying "hackers won't bother with us," you might as well hang a sign reading "free Wi-Fi, no password."
The Compliance Trap (03:46 - 06:15)
Many businesses believe being compliant means they're secure. This is cybersecurity's biggest misconception.
Compliance is like passing your driving test - it means you know the rules, not that you'll never crashOr that you're a good driverMicrosoft's security GM: "Some SMBs believe being compliant means they're safe. It doesn't."Hackers don't check whether you've got ISO certification before attacking"We did our annual password change. Job done."Hackers respond: "Challenge accepted."Following checklists creates false sense of securityReal security requires ongoing vigilance, not annual tick-boxesThe Hidden Risk: If everyone in your industry has the same security gap but meets the same compliance standards, benchmarking against them won't reveal your shared vulnerability. You're all vulnerable together, congratulating each other on your certifications.
Case Study 1: The Target Breach (06:15 - 09:42)
One of retail history's most infamous breaches demonstrates how third-party access becomes a catastrophic liability.
December 2013: Hackers stole 40 million credit card numbers and 70 million customer recordsEntry point: HVAC contractor with network accessAttackers used vendor credentials to access Target's corporate networkThen moved laterally to payment systemsDirect losses: $162 millionCEO resignedCIO resignedBoard chairman resignedCountless hours dealing with breach response, forensics, legal battlesThe Lesson: Your security is only as strong as your weakest supplier. That HVAC company, plumber, or IT consultant with network access? They're potential backdoors. Target's enterprise-grade security was bypassed through a small contractor's weak credentials.
61% of breaches involve third-party accessSmall businesses often provide services to larger enterprisesYour compromise becomes their breachVendor management isn't optionalSegment vendor access ruthlesslyNo contractor needs access to your entire networkUse separate credentials for third partiesMonitor vendor access continuouslyRegular vendor security auditsCase Study 2: Colonial Pipeline (09:42 - 12:28)
In May 2021, a single compromised password shut down a major fuel pipeline supplying 45% of the US East Coast's fuel.
Ransomware attack forced shutdown of 5,500-mile pipelineEntry point: Weak VPN passwordNo multi-factor authentication (MFA) on VPN accessCompany paid $4.4 million ransom (partially recovered later)Fuel shortages across southeastern United StatesPanic buying, price spikesEmergency government declarationsWeek-long shutdown of critical infrastructureThe Lesson: Credentials are your front door. If you're not protecting them properly, you've left the door unlocked with a welcome mat out for attackers.
For Small Businesses: The Colonial Pipeline didn't fail because of sophisticated zero-day exploits or nation-state malware. They failed because they didn't have MFA enabled on remote access.
Enable MFA everywhere, particularly VPN accessEnforce strong password policiesMonitor for credential compromisePhishing-resistant MFA (hardware tokens or biometrics) for privileged accessRegular access reviewsThe Cost-Benefit Reality:
Hardware security keys: £40-70 per userPotential breach cost: £250,000 averageMFA prevents 99.9% of automated credential attacksThe mathematics are straightforwardCase Study 3: UK Holiday Park Ransomware (12:28 - 15:15)
Closer to home, a UK holiday park discovered that timing matters when ransomware strikes.
Ransomware attack during peak summer seasonAll booking systems encryptedPayment processing downGuest check-ins disruptedHad to operate cash-only during busiest periodCouldn't process new bookingsLost revenue during most profitable weeksGuest experience severely compromisedReputation damageThe Lesson: Attackers choose timing deliberately. They struck during peak season when the business would be most desperate to restore operations quickly and most likely to pay the ransom.
For Small Businesses: Seasonal businesses are particularly vulnerable during peak periods. That's precisely when attackers strike, knowing you can't afford downtime.
Offline, air-gapped backups tested regularlyIncident response plan practiced before peak seasonAlternative payment processing methods readyStaff trained on ransomware proceduresCrisis communication templates preparedThe Backup Reality: Having backups isn't enough. You need to test restoration procedures. The middle of a ransomware attack is not the time to discover your backups don't work or take three weeks to restore.
Why Reverse Benchmarking Works Better (15:15 - 17:45)
Traditional approaches focus on aspirational goals. Reverse benchmarking focuses on avoiding catastrophic failures.
The Psychological Advantage:
Failures provide concrete examples of what not to doSuccess stories often omit the messy detailsDisasters reveal the actual attack patterns you'll faceReal consequences make lessons stickYou learn what actually breaks in the real worldNot theoretical best practices that might workUnderstand attack chains step by stepSee how small gaps become massive breachesAvoiding one disaster pays for years of modest security investmentYou don't need enterprise budgets to avoid enterprise mistakesFocus resources on genuine vulnerabilitiesNot on impressive-sounding but irrelevant controlsThe Timeliness Advantage:
Recent failures reflect current threat landscapeMore relevant than last year's "best practices"See how threats evolve in real-timeAdapt defences to actual attack methodsBuilding Your Disaster Library (17:45 - 19:29)
Practical implementation of reverse benchmarking for your business.
Step 1: Collect Relevant Failures
Focus on breaches in similar-sized businessesSame industry or adjacent sectorsSimilar technology stackGeographic relevance (UK regulations, threat actors)Step 2: Quarterly Review Sessions
"What went wrong" meetings with your teamReview recent breaches systematicallyAsk: "Could this happen to us?"Identify similar vulnerabilities in your environmentStep 3: Map to Your Environment
For each breach, trace the attack pathIdentify which elements exist in your businessWhere are your equivalent vulnerabilities?What would the impact be if it happened to you?Step 4: Prioritise Actions
Not every lesson requires immediate implementationFocus on high-probability, high-impact scenarios firstQuick wins vs long-term projectsBalance cost against realistic riskStep 5: Create Your "Anti-Playbook"
Document what you'll never do based on failure analysisShare with team so everyone knows the "forbidden" approachesUpdate as new disasters emergeMake it living document, not static policyNCSC Weekly Threat ReportsInformation Commissioner's Office (ICO) breach reportsIndustry-specific security bulletinsUK Cyber Security NewsGlobal breach databases with UK filterCreating a No-Blame Culture (19:29 - 20:45)
If people hide mistakes, you lose the chance to fix vulnerabilities before an actual breach occurs.
The Aviation Model: Airlines improve safety by fostering no-blame culture for near-misses. They want to hear about every close call so they can fix systemic issues before disaster strikes.
Applying This to Cybersecurity: If Janet in accounting falls for a phishing test, berating her is counterproductive. Instead, make it a learning opportunity for everyone. Next time, she might be the one to spot a real phishing attempt and save your business.
Practical Implementation:
"Lessons learned" sessions, not "who screwed up" meetingsFocus on systems and processes, not individualsReward reporting of near-missesShare failures anonymously when neededCelebrate catches of suspicious activityThe Payoff: Fear doesn't work. Education does. When people feel safe reporting potential issues, you catch problems early before they become breaches.
Summary and Call to Action (20:45 - 21:37)
Sometimes the best way to secure your business is by studying the worst failures out there and doing the opposite.
Traditional benchmarking can lead you astray for SMBsReverse benchmarking provides genuine security advantageStudy disasters: Target, Colonial Pipeline, holiday park ransomwareBuild it into regular practice, not one-off exerciseYour Mindset Shift: Think of yourself as Sherlock Holmes of cyber failures. Every incident is a case study that makes your business smarter. In cybersecurity, boring is good. If nothing's happening, it means your defences are working.
Start your disaster library this weekSchedule your first quarterly review sessionMap one recent breach to your business environmentImplement one lesson learned from this episodeShare this approach with your teamResources Mentioned
Statistics and Studies
National Cyber Security Centre (NCSC): UK SMB breach probability estimatesMicrosoft Security: Compliance vs security researchIndustry reports: 61% of breaches involve third-party accessBernard Ma: Quote on benchmarking limitationsCase Studies Referenced
Target Corporation data breach (2013): HVAC vendor compromise, 40 million cards stolen, $162 million lossColonial Pipeline ransomware (2021): VPN password compromise, $4.4 million ransom, critical infrastructure shutdownUK holiday park ransomware: Peak season attack, cash-only operationsUK Regulatory and Advisory Bodies
National Cyber Security Centre (NCSC): www.ncsc.gov.ukInformation Commissioner's Office (ICO): www.ico.org.ukRecommended Reading
NCSC Weekly Threat ReportsICO breach notifications and enforcement actionsIndustry-specific security bulletinsUK Cyber Security News aggregatorsPractical Checklist: Start Your Reverse Benchmarking Practice
Create a folder or document for your "disaster library" Sign up for NCSC weekly threat report emails Identify three recent breaches in businesses similar to yours Schedule your first quarterly "what went wrong" review meeting Map one major breach to your business environment Identify your equivalent vulnerabilities to the mapped breach Implement one quick-win lesson from disaster analysis Share this approach with your leadership team Hold your first formal reverse benchmarking session Build your "anti-playbook" of forbidden approaches Establish no-blame reporting culture for near-misses Review and update third-party access controls Weekly review of new breach reports Monthly check: "Could this happen to us?" Quarterly team review sessions Annual comprehensive vulnerability mappingQuestions for Your Team
Use these discussion prompts in your quarterly review sessions:
Which recent breach in our industry most closely resembles our business model?Do we have the same entry points that attackers used in [specific breach]?What would be our equivalent business impact if we experienced this type of attack?Which quick fixes could we implement this month to avoid similar failures?What systemic vulnerabilities do we share with failed organisations?Are we making the same assumptions that led to their breach?Would our backup and recovery process work in a real crisis?Do our third-party vendors have access they don't need?Where are we relying on compliance rather than actual security?What's our single point of failure that resembles their weakness?Next Episode Preview
Episode 30: The Office Printer Hacker Saga
Yes, office printers are a genuine security risk. Sounds hilarious, but it's genuinely scary. We'll explore why that seemingly innocent device in the corner is actually a network-connected computer with hard drives, stored documents, and often the same default admin password it shipped with.
You'll discover the printer botnet that attacked an entire city, the university students who made campus printers output memes, and why your MFP (multi-function printer) knows more about your business than you'd be comfortable with.
If you think printers are just about paper jams and toner costs, this episode will open your eyes to why printer security belongs in your threat model. Subscribe so you don't miss it.
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Episode Tags
#Cybersecurity #SmallBusiness #ReverseBenchmarking #CyberThreats #DataBreach #UKBusiness #SMBSecurity #InformationSecurity #ThreatIntelligence #SecurityStrategy #BusinessProtection #CyberResilience #RiskManagement #SecurityPodcast #UKCyber #NCSC #ThirdPartyRisk #ComplianceVsSecurity #CyberEducation #BusinessContinuity