It's not Risk but the Risk of YOU

It's been a minute since I last wrote an article on this platform. That's a long time for someone who loves writing, right? Well, I have been writing, working on my book amongst other content I am developing. One of them is this really exciting thing I have been pushing called 'The Risk of You'.

It's the new concept of risk I developed and put out to the world in 2018. You see, I have spent 20 years working with many corporations helping them manage their risk and one thing was consistent. Actually, several things were consistent but I will say this one, it's that these companies or organisations poured a lot of their resources into the prevention of risk as they know it, the FEAR they anticipate, the THREATS, the PROBLEMS, the FINES they want to avoid from the regulators, the PROJECTS to solve the problems of the other failing projects. It was endless! The monies wasted was like pouring water into a basket. Even when Risk Frameworks were embedded in some of these businesses, it changed nothing because these documents, that's just what they were in the end, for whatever good intent they contain ends there. These documents don't align with the purpose of the businesses.

Risk was 90% of the time focused on addressing the negative, encompassing all the aforementioned downside and more. What is interesting is that in the discipline of risk, there is the good side usually referred to as the upside of risk but attention is not driven there.

Why is this the case? I found that the meaning we attribute to Risk has been for over a century programmed into our subconscious to the dark side, the fear factor, what I call, "What-if-I-fail Syndrom". With that mindset what do we do when we start a job or business? We take these ideologies with us and continue so. This then becomes the pattern.

In effect, the definition of risk, in my opinion, has a major flaw. It bothered me all those years, that it meant I had to take a different route from the popular narrative. I wanted to change the ugly face of risk that pretty much produces little value.

The first thing I did was to redefine risk.

What is Risk then? Let's do it this way. What do secular authorities in the subject of risk or the dictionary say risk is? Grouping these bodies together , they say risk is 'the possibility of something bad happening' or 'the combination of the probability of an event and its consequences', or some have said that risk is 'uncertainty' and 'risk is the danger that should be avoided'.

Now, what do I say Risk is?

'Risk is a person or an entity with a purpose.'

Entity in the definition refers to businesses and organisations of all types and sizes. The image below describes this in pictorial terms. You can put your map on it.

When you compare my definition to the secular definitions, which do you find empowering? I am hoping you will say the latter because if you are the Risk with a PURPOSE, what would you want to do? Achieve that purpose right? You would do what it takes to manage yourself in such a way that you will achieve your purpose. That simply is Risk Management or the Management of You, the Risk.

You see, psychologically speaking, when you spend most your time and effort addressing the negative, that is what you will produce, you will not achieve full or true value in your personal lives and businesses. It's natural science.

This is where the old way of thinking about risk fails and the new way, the Risk of You triumphs. Risk is not a bad thing, its how it's been used... you can use fire cook up a delicious meal or burn a beautifully scented candle or you can use fire to create damage as arsonist do.

We live in an era where most people just go with what they have been taught. If no one questions anything or tries to change the status quo, then the vicious circle continues. I think we can all agree it's about time to change our perception of risk as you knew it and embrace a new one - The Risk of YOU if you really want to create true value for yourself and loved ones. I'm sure you may have heard the saying that if you change your perception you change your reality.

There is a lot functionally, systematically, and psychologically wrong with what you know, or knew to be risk. If the businesses (entities) that have risk departments change their perception of risk, it will change the reality of businesses for the better. Workplace for most people will be a second home and not mentally draining institutions. If we all as people change our perception of the risk that triggers that negative emotion in us each time we think it or say it, then we will change the reality of our lives for the better and that of our communities, economies and the world for the better.

Could risk done correctly have saved Lehman brothers? Yes! Could the practice of The Risk of You have had a more positive outcome for most people and businesses during this pandemic season? Heck Yeah!! We need to mobilise and change the status quo so we can all come out stronger and better.

I've had this fiery passion for risk ever since and it drives everything I do. Most people who know me professionally can attest to this. I've been given nicknames, Dr Risk, The Asset, Prof, Risk Guru, I'm not blowing my own trumpet just relating what others have said about my passion for risk.

My goal is to empower people and businesses with the correct practice of Risk so you can achieve your purpose and maintain resilience even in the face of adversity. It's not rocket science and remember, it's not Risk but the Risk of You, own you and manage yourself (person or business) in such a way that you can achieve your ethically defined purpose.

Want to learn more about how you can benefit from The Power of Risk?

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