09/10/2026
73% of the senior business people in our Monaco room on Wednesday said their biggest risk was coming from outside. AI. The pace of change. Pressure they cannot control.
In elite sport, 86% of what actually broke under pressure came from inside the team. That gap is where businesses get hurt.
On Wednesday we were at Castel Roc, on Place du Palais, for The Business End’s Monaco Leadership Lunch, powered by Van Lanschot Kempen. Before every lunch, each guest tells us the biggest risk to their business. We set those answers against our library of verified findings from leaders and elite performers who have been under real pressure, in sport and in business. We call it the Room Index. Monaco looked outward, at markets, technology and change. Sport points somewhere less comfortable. When teams broke, the cause was how they were run, how much rested on one person, and who was picked and kept on.
Two guests came at it from opposite ends. Jamie Cudmore captained Canada, lost finals with Clermont before he won one, collected more cards than he would care to count, and now coaches at Nissa Rugby. Alain van der Heijden, Head of Wholesale Head of Wholesale Investment Strategies at Van Lanschot Kempen Investment Management, makes decisions with other people’s capital where the outcome is never known in advance.
What was said stays in the room. That is the Chatham House Rule, and it is why people speak openly. The questions are often diagnostic on purpose, and every leader reading this should be able to answer them. What do you change after a loss when the foundations were right? Do you hire for skill or for mentality? Which risks do you leave alone? And when the pressure is at its highest, who in your organisation is genuinely allowed to say stop?
Change hits every competitor at once. Your systems decide who comes through.
We also measure every room by who is in it. On Wednesday 63% of the room were founders, chief executives, directors and partners, and our Room Strength Index came in 12% up on our last Monaco lunch. The room is the product, and we curate it seat by seat.
Thank you to Isabelle Foy and the Van Lanschot Kempen team, to Castelroc, to Nissa Rugby for releasing Jamie midweek in the middle of a season, to Ivor ALEX for sharing the chair, and to everyone who came. The next Monaco Leadership Lunch is on Wednesday 25 November, and every room adds to the Room Index.
Next up is Sydney, 21 Ocotber where are really looking forward to bringing The Business End ⚫ in partnership with Achilles Information Limited to show what business can learn from sport. A new continent, country, market, business culture yet sport is a universal business language and we like pressure :)
We are building something powerful at TBE, every event & podcast, compounds and sharpens the business intelligence for our next room & our members.
Ivor Alex Liam Mooney Jamie Cudmore Justin M. Fitzpatrick John Donoghue Brad Ainsworth Tim Powers Annette-Al Charron Van Lanschot Kempen private banking Jamie Ball