This week you will learn the tactics to use if you are a race driver with no money to race. You will also understand the importance of a hook for your motorsport sponsorship pitch, the difference between a sponsorship deck and a sponsorship proposal and much more. It is all in this week’s edition of The Business of Being a Race Driver.
The Business of Racing
In the video above, Enzo Mucci explains how to attract race teams with no money. “It’s not easy to compete in this sport when you have no cash. Here are some tips for those who have proven their speed, but still have no opportunities. Here are some tips for getting in with teams, that may help.”
The Racing Mentor explains how to find a hook for your motorsport sponsorship pitch. “If you’re a racing driver looking to secure sponsorship and stand out among the competition, you’ll have noticed that you’re in a competitive market where being skilled on track isn’t always enough. You need a hook, a unique selling point that sets you apart from the rest. This will help you attract sponsors, partners, and even press coverage.”
Read the full article here.
On the Shift Up Now website, Megan Meyer explains how to master the art of sponsorship. “If you’re feeling stuck, overwhelmed, or like you’re getting nowhere fast, it’s time to take a step back and reassess your strategy, if you have one at all. Whether you’re struggling to get your foot in the door, frustrated with gatekeepers blocking your path, or unsure of how to keep sponsors coming back for more, these tips will help you shift your focus and find success.”
Read her article Mastering the Art of Sponsorship: Building Relationships, Prioritizing Leads, and Keeping Sponsors Coming Back here.
In the August 28, 2024 episode of the Motorsport Sponsorship Podcast, host Belinda takes a deep dive into the intricacies of creating effective sponsorship packages for motorsport enthusiasts and professionals. Belinda kicks off the discussion by emphasizing the importance of listening to your prospects and understanding their specific needs before assembling your sponsorship tiers or packages. She debunks the traditional bronze, silver, or gold categories, advocating for a more tailored approach that reflects the sponsor’s budget and goals.
Have a listen to the podcast here.
Don’t forget to register for Belinda’s 10 Things You Can Do Now To Gain Sponsorship Webinar taking place on Tuesday, September 24, 2024 at 7:00 PM AEST.
What is included?
- Live & Free webinar on ’10 Things You Can do Now to gain sponsorship’
- Workbook outlining those strategies.
- Question & Answer time available at the end.
- Replay available if you can not attend but you must register to receive the recording.
You can register to attend here.
Drive Sports Marketing explains why communication matters for young drivers. “It is not a mystery that young drivers often focus only on honing their skills behind the wheel. However, mastering the art of professional communication is just as critical for their success. How young drivers communicate—both on and off the track—can significantly impact their careers, shaping their public image, influencing team dynamics, and opening doors to future opportunities. Here’s why communication matters for young drivers.”
Read the full article here.
In Part 2 of our series Driven to Succeed: Financial Planning for Motorsport Athletes by financial advisor Elliott Ellis, Elliott looks at why a race driver needs a financial planner. “A financial advisor or planner acts as your crew chief who understands your life in the fast lane and your finances. They’re adept at communicating not only with your entire financial team but also with you, your family, and other significant parties.”
Read more here.
Sports Business Journal looks at three common financial pitfalls for professional athletes.
“If luck and longevity are on their sides, the first athletes to have billion-dollar careers may already be playing in professional leagues. In fact, given the current pro athlete salary trajectory, $100-million-a-year contracts are likely just a few years away. Yet despite these eye-wateringly large contracts, many pro athletes face money troubles at the end of their career. A Sports Illustrated article estimated that 60% of former NBA players go broke or are struggling financially within five years of retirement, with similarly grim stats for other professional sports.”
Read the complete article here.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.
