{"id":22754,"date":"2007-05-19T10:35:00","date_gmt":"2007-05-19T10:35:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=606"},"modified":"2007-05-19T10:35:00","modified_gmt":"2007-05-19T10:35:00","slug":"formula-1-y-counselling-global-quien-teme-ensenar-su-know-how","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/formula-1-y-counselling-global-quien-teme-ensenar-su-know-how\/","title":{"rendered":"Formula 1 and Global Counselling: Who's afraid to teach their know-how?"},"content":{"rendered":"
\"\"<\/a>On one occasion, a well-known F1 driver (who was still a test driver at the time) told me that it was utterly stupid to go to such lengths to protect the teams\u2019 technical advances, as by the time they were officially implemented, the competition would have copied them in less than a week. In other words, the result of months of extremely costly research was within the competitors\u2019 reach in a matter of days. I asked him whether it was worth all that financial and technical effort for such a small advantage over the rest, and how frustrating it must be for the whole team to see the team next door catch up simply by copying them. But his reply was<\/span> It was a real lesson that we have applied ever since in our work as financial advisers: <\/div>\n
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\u00abIf you are the innovator rather than the imitator, your real advantage is far greater than the time it takes for others to copy your advances.\u00bb<\/p><\/blockquote>\n

A pithy statement if ever there was one. Indeed, when others apply something we have created, they are still a long way from catching up with us, since our know<\/span><\/span>-how<\/span><\/span> will be<\/span> far beyond that. Or at least that is how it should be. Furthermore, the implementation of any protocol or advancement in a system will always be far more efficient and refined when carried out by its creator than by trained third parties.
\"\"<\/a>At that moment, as family<\/span><\/span> office<\/span><\/span><\/a> We came to the conclusion that we could offer our entire range without any hesitation know<\/span><\/span>-how<\/span><\/span> to manage people\u2019s wealth in the broadest sense. And that is what we did. As pioneers in many aspects of asset analysis, planning and management, we decided to to liberate<\/span><\/span> our source code<\/span>. Inevitably, some of our competitors copied some of our services; others even improved on them in certain respects (\u00a1well<\/span> (thanks to them!), but without a doubt those who benefit most<\/span> were and are Customers<\/span>. And that is what truly<\/span> This should be a priority for any business. A business organisation with customers who are happy and grateful that they have been taught how to manage their wealth \u2013 by offering them our \u00absource code\u00bb in an educational manner tailored to their profile \u2013 is sure to reap business benefits.
At first glance, it might seem that a client who is taught how to be self-sufficient<\/span> and manage their financial affairs, they will soon no longer be subject to our invoicing. The answer is: Probably yes. But that does not mean they will cease to be a revenue-generating customer\"\"<\/a>crucial for the company. When we talk about the economic sector and, above all, about counselling<\/span> and comprehensive advice, the synergies between the client and family<\/span> office<\/span> are, and should be, almost infinite. Therefore, by gradually blurring the line between client and friend over time, we undoubtedly generate financial benefits for our company that are often far greater than the reduced or lost turnover itself. What is more, even in the worst-case scenario, where, having helped a client to become self-sufficient<\/span> As far as wealth management expertise is concerned, even if we lose their business and it doesn\u2019t generate any synergy with our company, we\u2019ll still gain a grateful friend. If that\u2019s the worst-case scenario, at this stage of the game, so be it.
This reminds me of the difference between a senior executive who simply gives orders and a leader. A comprehensive wealth management firm may \u00ablead the way\u00bb in terms of assets under management and clients advised, but another with a lower volume will lead<\/span> the sector. That is a qualitative difference that is impossible to replicate, given that this elite<\/span> The role of businesses is to innovate, create and constantly improve. To quote one of my Gurus<\/span> favourites: \u00abA business can get better or worse, but it can never just stay the same.\u00bb So the choice is clear; if, on top of that, you are the creator or founder of the venture, all that\u2019s left to do is \u00abget out into the field and enjoy it\u00bb, as he said Johan<\/span> Cruyff<\/span>.
Getting back to my conversation with the F1 driver, he also made a confession to me that gave<\/span> What to think: \u00abWe even try out techniques and technical solutions that are prohibited by the FIA<\/span>\u00ab. My naivety got the better of me, and he then replied: \u00abIn case they are authorised at some point, so that they can be implemented immediately\u2026 or in case it is decided, on an ad hoc basis, to take the risk of using them sooner.\u00bb A statement that is not quite so categorical, but which is also perfectly applicable to our work as Family<\/span> Office<\/span>. That\u2019s right.<\/p>\n

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En una ocasi\u00f3n me coment\u00f3 un conocido piloto de F1 (en aquel momento todav\u00eda piloto de pruebas), que era absolutamente est\u00fapido intentar proteger exageradamente los avances t\u00e9cnicos de las escuder\u00edas, ya que en el momento de aplicarlos oficialmente, la competencia los copiaba en menos de una semana. Es decir, el fruto de una investigaci\u00f3n costos\u00edsima […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-22754","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=22754"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22754\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=22754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=22754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=22754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}