The word ‘legend’ is bandied about all too easily, but this week the world lost the genuine article.

Muhammed Ali transcended sport, celebrity, fame and along the way achieved iconic status, as the highest of high-achieving mavericks, unafraid to defy convention and to stand out on his own.

Ali’s influence on future generations is hard to quantify, but what’s clear is that today’s (for-want-of-a-better-word) Millennials share many of his personality traits.

A recent study by Boston Consulting Group claimed that this generation are rebellious, arrogant, self-centred, funny, humorous, hip, snarky and perhaps most importantly they're risk-takers.

Remind you of anyone?

We all take risks. Every day. But the reality is that there’s a scale to risk-taking. What’s risky to one person, is a safe bet for another. A risk can be anything from placing a single bet each year on the Grand National, to strapping on a wingsuit and jumping out of a plane.

Risk-taking shows others that you're full of confidence and it can help those who lack confidence initially, to overcome their fear of failure. Those who are successful - and influential - are perhaps the biggest risk-takers of them all; it's hard to imagine that Richard Branson would have achieved a fraction of his success, had he decided not to take any risks.

For consumer brands and marketers, risk can now be targeted as a mindset; by creating relevant, compelling emotional content, targeting those consumers who identify the most with the risk-taking mindset.

Last weekend, Ride UK BMX fully embraced risk-taking, broadcasting a world-first BMX trick live on Facebook Live. What were the risks?

Risk 1) The last time Jason Phelan attempted a trick like this, this happened.

Risk 2) What if no one watched?

Risk 3) What if everyone watched and it all went wrong?

Well we needn't have worried, Jason pulled off the feat in spectacular fashion, and in the process we reached 1.6M people, achieving 745.100 views in total.

The risk paid off.

A final word from the Greatest Of All Time?

"He who is not courageous enough to take risks will accomplish nothing in life."