Let’s talk about shoes for a minute.
I know some folks – gals AND guys that have a closet full of shoes.
But those that know me, know that, well… I keep it pretty simple.
So why is a risk advisor writing about shoes?
Well, a colleague and I got into a discussion about how mature risk management is definitely not a one-size-fits-all methodology.
He said it was like shoes.
It makes sense, but I had to stop and think about it.
Shoes, like mature risk management, for the most part, have basic constructs to them. A solid sole, arch support, lateral support, protection from the elements, etc.
But even those things are highly-customizable. A running shoe has a very different arch support than say a hiking boot. A cowboy boot is going to have different reinforcements built into the toe and heel. A basketball player is going to want some good ankle support.
But I was only thinking about the word “size”. And yes it has to fit (blisters can slow down all of us).
So think about the runner with feather-weight high-tech materials meant to propel him far and fast. Or the rancher who now has no fear about stubbing his toe on a cactus.
It all adds up to freedom.
Makes sense. When I get my weekend started and I want to mitigate risk according to my EXACT goals and risk appetite, my old work boots do the job just fine.