Some people think that Risk Management always means taking the least risky options, and that that can be very bad for business: not only can it be expensive, it can slow down progress and also lead to missing opportunities.  I have always believed Risk Management to be about balance: balancing risk against cost, or balancing one risk against another.  The same is true in many aspects of life.

I remember a pastor in Wales who used to illustrate his sermons with items from everyday life, often drawn on his memories of life back in his original home on Jamaica.  Boats and the sea often featured.  He once explained that a good sailing boat should have the right balance between keel and sails.  The bigger the sails the faster it could go, and the bigger the keel the more stable it would be in the water.  Too much sail in relation to the size of the keel would make the boat liable to capsize, whilst too much keel in relation to the sail would make it slow and cumbersome. He was applying this to the Christian life, where the keel is the Bible and the sail is the Holy Spirit, but it has many other applications.

The parallel with risk management strikes me as remarkable.  The sails could be the risks you might want to take in order to grow your business, whist the keel could represent the risk control measures in place to prevent things going badly wrong.  You can drive faster in a car with better brakes.

Do not assume all risks are to be feared and avoided, but do look for reasonable control measures to keep your business on an even keel. The bigger your ambitions, the more important it is to have the right safeguards in place.