In a new regular feature for Monaco Life, Simon Pavitt, pioneer in ‘Capstones’, will talk to Principality residents about how they are finding meaning and fulfilment beyond their day to day business, focussing more on their passions and ‘non-financial’ motivations. But firstly, Simon Pavitt explains for us exactly what a Capstone is.
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Monaco Life: You believe that Monaco is one of the top places in the world for people to work out their ‘what’s next in life’ projects. Why is that? 
Simon Pavitt: I have spent over 20 years assisting the world’s elite with their passion projects. Originally it was activating global sponsorships for major brands, most of which were called ‘Chairman’s Choice’ activities. For example, the top decision-maker in a corporation loves Formula One and so the company would sponsor an F1 team. The same for sailing, golf, tennis, art and other passions. More recently, I’ve been focused on individual’s personal projects, driven by potentially the same personal motivations as before but now kept deliberately separate from the business they’ve built or own. Clients started to call me a ‘Wingman’ and so that led to the idea of my business: an accountability partner that helps individuals work through what they should do next and illuminate the more personal reasons as to why they are feeling unfulfilled and want to create more positive impact in certain aspects of their life. We take the visions of great people and make them into reality. Rather than just advising, we roll our sleeves up and do the doing.
What is a ‘Capstone’?
There are typically three phases to the arc of a person’s career/ life development. The ‘Cornerstone’ – when you lay down the foundations of your future and you are set off on a certain path. The ‘Keystone’ – the main bulk of your career, where you make your mark, reach the top of your game, make your billion dollars, sell your company, reach the pinnacle of your sport, win an Oscar. Then suddenly you have this moment: “What next? Am I happy? Do I feel fulfilled? What have I sacrificed along the way? Do I have real meaning in life?” That’s when you start to think about your ‘Capstone’ – the icing on the cake but more around personal fulfilment; a crowning achievement. It’s often not about winning (but it’s very important to not lose) and it is beyond pure profit. The Capstone is the project they do next, progressing a passion for enrichment.
What are the different types of Capstones?
Our work in this sector has revealed 10 architypes/ territories in which Capstone projects tend to occupy: Sports, Philanthropy, Arts and Culture, Food and Drink, Media and Events, Venture, Adventure, Wellness and Longevity, Education and finally Luxury. They are activities that often define the high achiever’s legacy. They are everywhere – we are just the first ones to articulate such projects as Capstones.
The ones we admire and/or are the most celebrated in the mainstream include the Bill and Melinda Gates Foundation, Roman Abramovich with the Chelsea Football Club, Richard Branson with Necker Island, Larry Ellison with Team Oracle in sailing, and in history, the Pulitzer Prizes and the first Olympic Games were individual’s Capstones.
Why do people undertake ‘Capstones’?
The reasons people undertake a Capstone are very personal and bespoke. The metrics by which success is judged are not always what people would expect. We have, however, identified nine general motives that drive Capstones – the likes of re-connecting with family and friends, giving back, nostalgia, super-fandom and legacy, etc.
Why Monaco?
Whilst a Capstone isn’t exclusive to billionaires and ultra-high-net-worth-individuals (we believe everyone should plan and undertake their own Capstones irrespective of wealth or success) our focus has been on this elite demographic as their projects are often more ambitious, patient, inspiring and impactful.
Monaco is ‘high density’ in achievers and millionaires, many of whom move to the Principality after stepping back from the day to day running or selling of their business. It’s the time when you take stock and look for something more fulfilling with your time and resources. Monaco has the highest life expectancy (89.5 years on average) which also means residents have longer to make their mark in the third phase of their career. Monaco residents are very active with charitable foundations, venture projects, in sports investments, etc. This is personified by the projects and activities undertaken by the Monarch of the Principality, Prince Albert, and his family. The Prince Albert II of Monaco Foundation is the just tip of the iceberg. The family truly live their Capstones. This sets the tone for everyone living in and enjoying Monaco.
Personally, I love the buzz, accessibility and support available. I’ve spent countless years in Monte Carlo running very lavish F1 hospitality programmes and marketing campaigns around the Grand Prix. I was the Marketing Director of an F1 team so I love and understand all things racing in Monaco. I’ve also come year after year to the Monaco Yacht Show choosing the right boats for charters. I prefer being in Monaco over Cannes for the annual Lions Festival and often take clients out for cycling rides up Col d’Èze to clear their heads and find a new perspective together. It means I have been fully immersed ‘in’ this super-rich world rather than ‘of’ that world, but I’m a key person in making the billionaire’s passions come to life, and hopefully a success.
What can we expect?
To be wowed and inspired. We are so lucky to spend our days involved with incredible people wanting to do extraordinary things because they can. We will be shining a light on some of the iconic Capstones from Monaco – the reasons why they were started, the personalities and driving forces behind them and the learnings (trip falls as well as best practice, we might add) for others to potentially consider what their Capstone might be in the future. Our aim is to bring attention to individual and shared benefits of Capstone projects, outlining some of the blueprint of how to make such projects as successful as they can possibly be. Success for us will be readers of Monaco Life thinking ‘What should my Capstone be?
What qualifies you to work in this domain?
I launched Wingman in early 2017 as I saw the opportunity to help others achieve great impact and fulfilment from their passion projects. I believe we are the world’s first specialist firm solely focused on embodying the personal visions of great people/ UHNWI’s Capstones. I have a psychology background that I think helps me to listen and understand people who demand the best from themselves. We have been trusted by elite sportsmen and women, UHNWI’s, business disruptors, CEOs as well as high (and some low) profile families. The difference has always been that whilst being in these dynamic environments, we have been successfully programming and deploying fast-paced pioneering projects. You hopefully get a good reputation for your ability to deliver. At Wingman, we’ve been exposed to amazing opportunities from building a Formula One team to launching philanthropic foundations. It helps build a blueprint, drawing on lots of different projects and learnings. Lastly, it helps to be part of advisory boards of technology, lifestyle, wealth management and philanthropic companies. But I like the ‘doing’, for example I am the Chief Operating Officer of the London Technology Club, a client’s venture Capstone which is a very hands on role.
For more information visit www.wingmanthinks.com or to get in touch email enquiries@wingmanthinks.com
 
 
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