The Business of Being a Race Driver for July 19, 2022

This week in the Business of Being a Race Driver, I bring you Megan Meyer’s Instagram reel tips for drivers, a look at sponsorship targets for businesses, how a business can maximize their use of a show car, and tips on structuring an early-stage venture capital deal for athlete investors.

• Megan Meyer explains how to create 5 Click-Worthy Instagram Reels That Are So Easy to Make. “They’re simple and powerful, and you can record them the next time you’re at the track. They require little to no editing! Just set up your phone on a tripod or install a GoPro mount inside your car, the point is to show you on camera while in action.”

• I have constantly reminded you in this column that as a race driver, you need to understand how a business uses their sponsorship to further their business goals. Remember, a business rarely will sponsor you if they are not getting some kind of return on their investment and Power Sponsorship looks at what happens when a company misses their sponsorship target in How Many Times Do You Have to Miss Your Sponsorship Target before You Change Your Approach?

• Sport Dimensions is a sponsorship activation company that works with businesses wanting to get involved in motorsport sponsorship and in their latest blog post they look at how a company can Build Business Value With Your Showcar Program. “An effective and sustainable way to activate your motorsports sponsorship and engage with your audience is through the use of a strategic showcar program. No longer are the teams people who transport a car to an event, set up some chairs, and endure the day.”

• Every day you see athletes investing more often in an ever-growing array of opportunities both inside and outside sport. LawinSport has an excellent primer on Athlete Investors: How To Structure Rights In An Early Stage Venture Deal that should offer you some general guidance. “It takes a high-level look at the various structures that deals can take, and examines how athletes can negotiate rights when partnering with start-ups and challenger brands across the early-stage venture ecosystem.”