The Business of Being a Race Driver for January 18, 2022 – Finding Sponsorship Contacts and More

The Business of Being a Race Driver for January 18, 2022
Photography courtesy of Mazda

As we all know, being a race driver not only involves competing on the track but being successful in raising sponsorship to meet the budget demands that the sport requires. The Business of Being a Race Driver constantly surveys the globe for the best tips, tools and resources to help you succeed in the boardroom so that you can succeed on the race track. Here are this week’s selections.

Sponsorship Tools, Techniques and Resources

  • MotiV8 Training is a great resource for a number of things related to the business of being a race driver including providing tools to help with your sponsorship acquisition efforts. In episode #104 of their Motorsport Coaching Podcast, they focus on finding sponsorship contacts. They cover topics such as:
    • How to decide who to contact for sponsorship
    • Where to look for contact details
    • Making the Contact Follow up
  • As I mentioned yesterday, MotiV8 Training’s long-awaited membership site, which will contain resources that cover sponsorship, fitness, social media, mindset and branding, will be launched on January 31st 2022. On the site, you will find templates, podcasts, checklists and much more. They also offer a free downloadable ebook about ‘Getting Started with Sponsorship’.
  • An important point to understand when working on your sponsorship proposal is to always look at what you are offering a business and how it could benefit them and their business because after all, this is a business relationship. Part of understanding what businesses want is by researching their products and services, understanding any new marketing initiatives they have implemented or new products or services they have introduced and truly understanding their business. It is also important to understand what type of sponsorship may best suit them as sponsorship is not a “one size fits all” proposal. Sport Dimensions is a sponsorship activation agency so they work with businesses looking to implement a motorsport sponsorship strategy. In the post Marketing on Big Stages and Small they explain the different types of sponsorship package a business may consider.

The Capital and Running Costs of Racing

Depending on your approach to racing, usually dictated by your budget, there are certain capital and running costs in racing when you own a race car. Every dollar counts so here are a few tips and recommendations related to maximizing your hard earned money.

That’s it for this week’s edition of the Business of Being a Race Driver. As always, if you have any tips, techniques or resources to share please do not hesitate to contact me. Stay safe and I will see you at the track.

Mark Boudreau
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.