On Saturday, horse trainer Todd Pletcher took a big risk. He decided to enter Rags to Riches, a top-ranked filly in one of the hardest and most important races for 3 year old horses--the 1.5 mile Belmont Stakes.
The last and longest of the Triple Crown series, the Belmont attracts the top racehorses in America. It's considered a particularly grueling race and most 3 year olds have a very hard time holding a winning pace for the entire distance. In its 140 year history, only 22 fillies have ever been entered, and the last filly to win was Tanya in 1905.
But guess what happened... Rags to Riches won! Going head to head against the fastest horses in the country, she became the first filly to win the Belmont in 102 years.
As tremendously exciting as this is, you're probably wondering how it relates to creativity and innovation. In fact, there are several important things that trainer Todd Pletcher did that are important things for innovators and entrepreneurs to remember.
Don't be Afraid of Failure
Todd Pletcher faced the very real possibility that Rags to Riches wouldn't perform well when racing against top-class male horses. Fillies are usually smaller and less muscular than colts, and they're likely to defer to strong-willed male horses because of their herd instincts. Rags to Riches, when faced with a strong-willed male competitor, could easily have backed off.
Take Calculated Risks
Even though Todd Pletcher was taking a chance by entering her in the Belmont Stakes, he was also very confident in Rags to Riches. She was the top filly in the US who had won her last 5 races and her family tree is full of Belmont Stakes winners.
Rags to Riches is the daughter of Belmont winner A.P. Indy, granddaughter of Triple Crown Champion Seattle Slew and the great granddaughter of Triple Crown Champion and Belmont Stakes record holder Secretariat. Her brother also won the Belmont in 2006.
Prepare for Success
Rags to Riches was in fantastic shape and was physically able to go the distance. Her trainer was confident in her ability and had prepared her with multiple Grade 1 races. He wasn't entering her in a race where she had no chance, he entered her because he knew that she was mentally and physically capable to compete at that level and knew that she had a real chance.
Go After Something Extraordinary
Even if she never raced against colts, Rags to Riches would still have been known as the best three year old filly in the country. She could have won millions of dollars and many prestigious races during her racing years, and retired to be a valuable broodmare.
But Todd Pletcher decided to pursue history. He knew that she was capable of running well in the Belmont and wanted to give her the chance to prove that she wasn't just the best filly, but also one of the best racehorses overall.
Most trainers of brilliant fillies never race them against colts and it took a lot confidence in Rags to Riches and plenty of courage for Todd Pletcher to decide to run her. Beyond a doubt, however, it was the right decision!
Rags to Riches is now assured a place in the history books, her trainer won his first Triple Crown race, and everyone is delighted that the filly ran so well. It's a perfect example of how calculated risk-taking can cause extraordinary results.
Don't forget to watch the Belmont Stakes video!
Special thanks to Yvonne DiVita for writing about Rags to Riches first on her fabulous Lip-Sticking blog and inspiring me to write this post!
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