There are four approaches to mitigating financial risk: avoidance, reduction, transference and acceptance. Fifteen examples of ways to minimise financial risk are: Carry insurance. Evaluate efficiency. Maintain emergency funds. Invest in quality assurance (QA). Diversify business investments. Keep accounts receivable (AR) low. Read the fine print. Reduce unneeded debt. Maintain quality records. Create a cash management strategy. Invest in employees. Outsource when it makes sense. Focus on metrics for decisions. Leverage financial technology. Establish separation of duties.