I sifted through a number of dictionary definitions to better understand the word myself. What they all shared was the concept of risk, of being bold and going ‘to where no man has gone before’. This bodes well with my experience of working with charities looking for investment – often they want to use their existing skills, expertise and assets in a new, more commercial way, which for them is both innovative and risky. What this means in practice is growing their trading capabilities to replace grants, to reduce reliance on one source of income and, hopefully, to grow total revenue.