Threat Modeling: What It Is and Why Every Business, Big or Small, Should Care

In the realm of cybersecurity, proactive prevention is far more effective than any cure.Big companies have entire departments to safeguard their systems, but small and medium-sized enterprises (SMEs) often believe they’re too small for cybercriminals to bother with. That’s a dangerous mistake.

If you run an SME, your business is at risk—and cybercriminals know it. So, how do you stay one step ahead without blowing your budget on fancy security systems? The answer lies in threat modeling.

What Exactly is Threat Modeling?

Think of threat modeling as a practical plan to protect your business. It’s about identifying the most likely threats, pinpointing weaknesses in your security, and devising a concrete plan to address them. It's not just a theoretical concept but a hands-on approach to cybersecurity.

Just like you wouldn’t lock only the front door of your shop, threat modeling helps you secure all entry points to your digital assets. You start thinking like a hacker and ensure there are no easy ways.

In its most basic form, it wants to answer the question, "What could go wrong in our process/application?"

It guides developers and product teams to answer this using a framework - the most popular being STRIDE:

1. Spoofing Identity involves an attacker pretending to be a user or a system to gain unauthorized access to resources. It's about impersonation.
2. Tampering with Data refers to unauthorized changes made to data, either in transit or at rest. It's about unauthorized modification of data.
3. Repudiation involves an attacker performing malicious actions and denying that they did so. It's about the ability to deny an action.
4. Information Disclosure refers to the exposure of information to individuals who are not supposed to have access to it. It's about unauthorized access to information.
5. Denial of Service (DoS) involves making a system unavailable or unusable for those who need it. It's about interrupting or preventing the regular use or management of services.
6. Elevation of Privilege refers to an attacker gaining elevated access to resources that are normally protected from an application or user. It's about the unauthorized increase in privileges.

(Image courtesy of OWASP)

Why Every Business Needs Threat Modeling

Here’s the truth: no business is too small to be targeted. Hackers often focus on smaller companies because they assume you’re not well protected. Here’s why threat modeling is a game-changer for businesses like yours:

1. Cybercriminals Are Targeting You—Yes, You!
   Hackers don’t just go after big names. 43% of attacks target small businesses, but only 14% are ready to defend themselves. Small businesses are seen as easy prey, with valuable customer data that’s often poorly secured.

2. It’s Affordable, and You Can Start Small
   You don’t need a huge budget to improve your security. Start with simple steps like multi-factor authentication (MFA), strong passwords, and regular software updates. These basics go a long way toward protecting your business.

3. It Helps You Focus on What Matters
   With limited resources, it’s important to focus on what’s most critical—like securing customer data and payment systems. Threat modeling gives you a clear roadmap to follow, so you invest in the right protections.

4. Minimizes Disruption and Financial Loss
   Cyberattacks aren’t just costly—they disrupt your entire operation and can damage your reputation. Threat modeling helps you minimize the damage and ensure your business can recover quickly, even if you’re hit.

5. Empowers Your Whole Team
   Cybersecurity isn’t just an IT issue—it’s everyone’s responsibility. Threat modeling helps you identify risks specific to your business and gives your team the tools they need to be your first line of defense.

How to Get Started with Threat Modeling

1. Identify What Needs Protection
   Focus on the things that would cause the most harm if they were compromised, like customer data or financial records.

2. Spot Potential Threats
   Think about how an attacker might get in. Could they exploit weak passwords? Target your employees with phishing scams?

3. Apply Simple Safeguards
   Start with MFA, strong passwords, and regular updates. As your business grows, your security can grow with it.

4. Review Regularly
   Cyber threats evolve, and so should your defenses. Regularly reviewing and updating your threat model keeps you ahead of the game.

Final Thoughts: Stay Ahead, Stay Safe

Cybersecurity doesn’t have to be overwhelming. Threat modeling is a smart, cost-effective way to stay ahead of cybercriminals and protect your business’s future.

At Bare Cybersecurity, we make cybersecurity simple and practical for small businesses. No confusing jargon—just real protection. Reach out today to learn how we can secure your business before it’s too late.