May Luck Be With You

It is said all the time.  May you have good luck in your new endeavor.  We realize its just an expression of goodwill but it does speak to the power and predominance of the notion of luck. Its as if the fates of chance and the charm of serendipity is the ultimate factor separating success from failure.  

This is absolutely the case for manufacturers of rabbit foot good luck charms, shaleigh wielding Leprechauns and other providers of magic elixirs and mojos that steer the gods of fate to your personal benefit.   But for the rest of us luck is a fickle thing whose appearance and consequence remains a riddle, wrapped in a mystery, inside an enigma.  

No question luck plays a big role in our lives.  The randomness of life can serve up pots of gold or oceans of despair due to minute measurements of time and space.  Consider missing a plane flight that crashed or consider the luck of someone who is shot in the chest and the bullet misses their heart by a few millimeters.  

These life altering random events are chalked up to the luck of the draw and we remain grateful that luck was on our side; yet remain a bit spooked had the circumstances gone the other way.

Though luck plays a factor in our lives and business careers, it is best to position oneself to be the beneficiary of luck when the angels of fortune flutter through the pathways of our life.

Alexander Hamilton said the spoils of fortune belong to the intrepid.  His sound advice counseling the need to engage calculated risk will more often than not result in some sort of achievement.

We at Sum2 believe this to be the case as well.  Our clients engage risk as a daily cost of doing business. We design risk management products for small business managers that empower them to lower the odds and consequences of damaging risk events while positioning themselves to be the beneficiaries of opportunity when the angels of luck flutter on by.

Happy St. Patrick's Day to all and may the luck of the Irish always be with you.

Generate some good luck for yourself by downloading the S3 a risk management tool for SMEs.

Get risk aware with our just released S3: SME Risk Seismograph, an early warning and opportunity discovery app on Google Play.

Get S3 on Google Play

risk: sme, random event, Black Swans, risk management

Risk Management Critical for Business Sustainability

Nigeria Business Day Reports:

March 12, 2014

Corporate business institutions have been advised to utilise the services of insurance brokers for effective risk management and business sustainability.

Ayodapo Shoderu, president, Nigerian Council of Registered Insurance Brokers (NCRIB) gave the advice when the Chairman of Geepee Group of companies, Prakash Vaswani paid a courtesy visit to the NCRIB Secretariat in Lagos.

Shoderu said the fortunes of businesses and their sustainability are determined by risk management strategies put in place by management, of which insurance is pivotal.

“The extent of risk exposures by most business concerns, especially in the changing global environment calls for proactive initiatives by business managers and this will determine their continued existence” Shoderu noted.

Risk transfer at times may not be the prefered  method to mitigate risk.  Its possible the risk insurance premium would to too expensive to purchase.  Or perhaps the SME is in an active search for risk factors to monetize risk assumption in search of business gain.   Whatever the appetite for risk assumption by an SME may be, the advise offered by Ayodapo Shoderu is quite correct.   Risk management assessment is critical to business sustainability.  Particularly for SME's whose modest balance sheets may not have the ability to absorb the shock of a large or a series of smaller multiple risk exposures.

Assuring business sustainability through sound risk management practices is the goal of all Sum2 products. Successful managers of risk aware SME's have been using our risk management products since 2002.

Get risk aware with our just released S3: SME Risk Seismograph, an early warning and opportunity discovery app on Google Play.

Get S3 on Google Play

 Risk, sme, sustainability, risk transfer, risk appetite, early warning