In the early 1900s, cars had noticeably lower top speeds and average usage speeds than we’re used to seeing today. While this can’t entirely be boiled down to a single technological breakthrough, one does stand out as counterintuitively important.
Hydraulic brakes were invented in the 1910’s, and a company called Duesenberg (Source) had quite a bit to do with the popularization of four-wheel hydraulic brakes. According to Sam Grate, curator at the Auburn-Cord-Duesenberg Automobile Museum in Auburn, Ind., “The Duesenbergs were always looking to get an edge,” Grate said. “They would do anything they could to go faster, win more races, achieve higher speeds.”
Notably, the Duesenbergs deployed four-wheel hydraulic brakes for their racing team, and, per the American Society of Mechanical Engineers: “The superior handling of this feature enabled the company to claim three of the top six places at the [1921 French] Grand Prix [and subsequently a car and driver] to win the 1922 Indianapolis 500.”
This begs the question, why did an automaker and racing team obsessed with achieving higher speeds focus so much on their mechanism to slow down and stop the car? And why did it work?
Before this innovation, drivers faced significant risks at higher speeds due to unreliable braking systems. With the introduction of hydraulic brakes, however, stopping power improved dramatically. This advancement not only made vehicles safer but also allowed drivers to push their limits, knowing they could stop effectively when needed.
Among other things, drivers were able to operate with improved control and enhanced confidence.
This historical example illustrates a crucial principle: establishing a foundation that minimizes failure can empower us to take controlled risks and potentially achieve greater overall success.
Another group of high-achievers, the US Special Forces, also have an expression to deal with an angle on this concept: “slow is smooth, and smooth is fast.” Slowing down for a moment to avoid critical mistakes and shortfalls leads to a more controlled execution and environment, which in turn leads to the ability to complete the task (or strategy) without surprises that might derail or delay the desired outcome.
Understanding Existential Threats and Building Solutions to Avoid Failure
When engaging in planning and strategic design - whether financially or personally - it's advantageous to identify the existential threats that could derail you from your objectives. By recognizing these potential pitfalls, you can begin to develop strategies to mitigate them.
For instance, in our work we’ve boiled it down essentially to five existential threats that face the typical long-term financial strategy:
- Job Loss / Loss of Income
- Inadequate Saving
- Severe Illness
- Premature Death
- Running Out of Money in Retirement
Once you have identified the major threats, the next step is to implement solutions. This proactive approach is akin to installing hydraulic brakes on a vehicle. By addressing potential failures, you create a robust framework that allows you to navigate life with greater confidence.
While the direct solutions to each of these specific threats are outside the scope of this article, you should know that the range of solutions can differ widely across threats or across people. Some threats have fairly direct solutions available, while others depend on implementing the correct systems, and still others involve building a long-term framework that is greater than the sum of its parts.
Embracing Risk with Confidence
With a solid foundation in place, you can begin to take calculated risks. Just as racing drivers were empowered to increase their speeds with reliable braking systems, you can pursue opportunities that propel you toward your goals. Once you “check the boxes” and have confidence that you can’t fail, you can engage in further strategies to improve efficiency and growth, secure in the knowledge that you’ve already accounted for the worst.
The key is to approach these risks with a clear understanding of your safety nets. Knowing that you've addressed potential failures allows you to focus on efficiency and growth. You can experiment, innovate, and push boundaries, all while having the assurance that you can recover if necessary.
Avoiding failure is not just about preventing catastrophe; it's about creating a platform for success. By identifying existential threats and implementing effective solutions, you lay the groundwork for a more resilient and ambitious future. With this foundation, you not only protect yourself but also empower yourself to take risks that can lead to greater achievements. Embrace the safety that comes from preparation, and you’ll find that the road to your goals becomes smoother and more exciting.
2025-7983734.1 Exp 05/2027