You don’t want your business to stay small but, like a child learning to walk, progress comes by putting one foot in front of the other. But that doesn’t mean you have to take too many nasty falls or be foolhardy. If you have the right strategy to turn your company into a runaway success, and a strong guiding hand, you’ll be off and running in no time.

Feared, ignored or dealt with inappropriately, risks will never let you reach your potential. If they’re recognised, understood and managed properly you’re on your way, but don’t underestimate how hard it is to get risk under control.

Avoid being seduced by lucrative opportunities. Taking your business to the next level is not without trepidation. While risk is an inherent part of any successful business’s growth strategy, it must be prioritised, and managed expertly and consistently across an entire business.

This will ensure scarce resources aren’t putting out bush fires when they should be focused on high value risk mitigation activities. These get harder and more complex as a business grows and become more diverse in what they do and how they do it. But for some, the greatest risk of all is fear of failure. Remember: you will never grow without moving outside your comfort zone.

Video Case Study: Paul Wakeling Motor Group-manages risk effectively

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