Episode 76: What Is The Impact of GDPR On Your Small Business (And What You Should Be Doing About It)

GDPR (General Data Protection Regulation) is going into effect on May 25th, 2018 and it seems like the entire Internet is freaking out about it.  If you are a small business that interacts with people that live in countries that belong to the European Union, then it applies to you.  And it holds the threat of penalties of 4% of your previous year revenues or $20 million euros (whichever is greater) if you are not in compliance.

My take, for the majority of small businesses, it’s not something you need to worry about from a penalty perspective.  But you should worry about keeping your customer’s data protected and GDPR may give you the reason and a good guideline how to go about doing it.

In this episode, I got into what exactly GDPR is, how it impacts your business, and what steps you should be taking to comply with it.

Topics Discussed (Time Stamped)

02:21 GDPR (General Data Protection Regulation)
04:42 The only people that can benefit from GDPR
09:40 No concept of privacy
10:41 How GDPR affects your small business
16:05 What it means to be compliant
17:09 Being transparent in your data collection
26:31 Technology products that can help you
28:28 Changing marketing policies

Quotes Worth Sharing

Try to be more transparent, try to make sure you are protecting data Click To Tweet

Resources Mentioned

 

Thanks!

Thanks for listening and checking out the show notes,  any feedback, comments, or questions, send me an email at david@techsmartboss.com

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