With a career spanning two decades, Alex has left an indelible mark in the world of cyber security. Fueled by a frustration with the state of cyber security consulting, Alex co-founded Mirai Security in 2017 which has rapidly emerged as Western Canada’s hub of cyber security excellence, attracting top professionals dedicated to elevating the industry.

Not only a trailblazer, Alex is also a thought-leading community builder in the field. Sharing a passion for knowledge, he actively contributes to the community through public speaking engagements, co-authoring cyber security books, and teaching for the esteemed SANS Institute. 

Today we had the pleasure of chatting with Alex on his journey to cyber entrepreneurship and the insights he had to share are as momentous as his achievements – and certainly aligned with some of the previous stories we’ve heard. Let’s dig in!

What are three things  every entrepreneur should know?

Alex Dow had no time to waste jumping into the answer to this first question stating firstly that entrepreneurs should have a strong understanding of their risk tolerance – and be prepared to take calculated risks. 

Alex also acknowledged that the entrepreneurial journey is not a linear path and entrepreneurs should understand this and be adaptable to unforeseen changes. Another crucial aspect, and one that we’ve definitely heard come up a few times throughout these entrepreneur stories, is the ability to recognize your own strengths coupled with the ability to delegate or outsource tasks that are not within your range of expertise. By doing so, entrepreneurs can avoid becoming overwhelmed with tasks allowing them to focus on their core competencies and key passions. 

Additionally, Alex emphasizes the importance of building a reliable team, both within your organization and externally, by seeking individuals who share mutual interests and can contribute to the overall success of the enterprise. 

To surmise Alex believes that every entrepreneur should: 

• Know that you have the risk tolerance. 
• Know that nothing is linear and be able to adjust accordingly.
• Know what you do best as well as how to outsource the rest.
• Find the right people to work with both internally and externally where there’s mutual interest.

What problem does your business solve and who are its customers?

Mirai Security Inc., founded by Alex, recognized a gap between large cybersecurity consultancies and companies primarily focused on selling products. Alex saw the need for a middle ground, where cybersecurity advisors could provide unbiased expertise without incentivizing customers to purchase unnecessary products. 

Alex strongly believes that technology alone cannot ensure security and that people and processes play a critical role, therefore his company focuses on problem-solving rather than simply selling cybersecurity products or software.

Mirai Security has been successful in becoming a trusted partner for small to medium-sized enterprises with their primary customers being organizations seeking guidance in understanding and managing cybersecurity risks. Mirai Security provides expertise in several key areas, including governance, risk management, compliance, and communication. These services help organizations structure their approach to cybersecurity, manage risks effectively, and communicate their risk management efforts externally.

In addition to governance and risk management, Mirai Security specializes in securing the cloud, securing applications, and security operations. This expertise extends to incident response, where the company acts as firefighters, helping organizations respond to and recover from cybersecurity breaches. 

 In today’s increasingly digital environment and with so many working remotely, cyber security is of the utmost importance. Mirai Security’s focus is on delivering experience and expertise to address complex cybersecurity problems, offering a roadmap or journey map for organizations to enhance their security posture.

What inspired you to become an entrepreneur and would you do it again?

Alex’s entrepreneurial journey began in 2013 when he and a group of like-minded individuals organized the first B-sides Vancouver cybersecurity conference. Inspired by the concept of TED talks, they created a smaller, community-driven event that attracted around 100 attendees. 

Over the years, their efforts grew, with each event attracting more and more participants, reaching over 600 attendees by 2019. The success of B-sides Vancouver allowed Alex to connect with professionals in the cybersecurity community, including both independent consultants and industry experts.

As an independent consultant himself, Alex began to feel the limitations of working alone and the unpredictable nature of freelance work. Motivated by the desire to collaborate and build something impactful, he approached members of the community with an idea. 

After about a year and a half of discussions and planning, Alex, along with two others, founded Mirai Security. The company’s growth was rooted in the relationships and connections forged within the cybersecurity community. Mirai Security has since evolved into one of Western Canada’s largest cybersecurity teams, boasting a track record of success.

After reflecting on his entrepreneurial journey, Alex affirmed that he would indeed do it again. Of course he and his team encountered challenges and naysayers – they were attempting to make waves in a market dominated by the Big Four consultancies and established software resellers. However, they had the vision to provide a problem-solving service rather than a band-aid product and no amount of naysaying was enough to discourage them. 

Ultimately, their determination to build a better approach resonated with their customers and contributed to Mirai Security’s success.

If someone had given you a million dollars when you first started your business, what would you have spent it on?

“Hindsight is 20/20,” Alex stated when asked the million dollar question. As it stands Mirai Security took every penny they made and reinvested it back into the business to scale and continue providing the best service they could to their growing customer base. Not everyone has the risk tolerance for that and not every company can get by without personal or external injections of cash. 

Being proud of their revenue-driven approach and avoiding the need for personal or external funding, Alex emphasizes the willingness to take calculated risks. 

If someone had given Alex a million dollars when he first started his company, he would have utilized the funds to further enhance the growth and efficiency of the business. Recognizing the common trap of founders being overly involved in too many aspects of their business – as he mentioned earlier in the interview – Alex acknowledges the advantage of having a clear focus. 

With a million dollars, Alex would have prioritized scaling the company by hiring the right individuals for specific roles. As a technical person with a passion for cybersecurity and red teaming, Alex would have invested in recruiting professionals to fill other gaps in the enterprise, particularly in areas like finance and accounting. 

This would have allowed him to concentrate on his core strengths while delegating other responsibilities and ultimately leading to a more effective and scalable team.

What is your proudest accomplishment as an Entrepreneur?

Alex’s proudest accomplishment as an entrepreneur lies in surpassing the common challenges faced by startups, which often lead to failure within the first year or two. Despite struggling with the big ugly “Imposter Syndrome” and continuously feeling the need to achieve more, Alex takes great pride in navigating through the risks, interpersonal conflicts, and egos that can sink companies. 

Competing against well-known established brands has been a significant challenge, making it even more remarkable that Alex has managed to establish a reputation and uphold core values within the business. A notable achievement that Alex mentioned was the collaborative process of defining the company’s corporate values through team input. By carving a niche for themselves, the company has undertaken unique projects and solved complex, long-term challenges that others cannot. 

In particular, Alex highlights their ability to leverage technology and implement risk management strategies to address obstacles faced by companies entering physical heavy industries. Having successfully sustained the business for six years, Alex considers creating and maintaining their established brand a significant accomplishment. 

We agree with Alex here, with significant cultural changes, political climates, and a myriad of other businesses to compete with, building a brand is not a one-and-done task. It requires constant re-evaluation, maintenance, and evolution to both stay ahead of the curve and remain loyal to your values.

What big goals are you looking to achieve?

Alex’s most significant accomplishment as an entrepreneur lies in the continuous expansion of the business. Through their expertise and innovative methodologies, they have developed valuable intellectual property and successfully solved complex problems for major corporations. 

Now, their main focus and primary goal for the upcoming year is to recreate the same level of success and apply it to various other industries.

Cyber security is one such industry that is likely only to expand as our world continues to be more and more technology-based and driven. While there are many companies that seem to exist purely to make a profit off of people’s fear, it’s heartening to speak to someone looking to genuinely solve a very real problem that many people are facing. 

Are you an entrepreneur with a plan or product that solves a real-world problem for your customers? Do you have some insights to share with other entrepreneurs and growth-minded individuals on their own journey to success? We’d love to discuss it with you! Connect with us today to share your own Entrepreneur Story.