This week on The Business of Being a Race Driver I bring you some great resources for the business you need to engage in off the track. I look at how a bunch of friends raced at Daytona on a minimal budget, a new course on social media marketing for race drivers, a motorsport focused DAO, and tips on how you can tell your story to potential sponsors and why you should do so.
- If watching Michelin Pilot Challenge races at Daytona gives you to urge to race there, Grassroots Motorsports will give you hope that you can make it happen. In running in an IMSA race on a grassroots budget, David S. Wallens describes how Gino Manley, by day the used car manager at a dealership in Jacksonville, Florida, and a group of friends made it to this year’s big weekend at Daytona, driving an Audi RS3 in the Michelin Pilot Challenge race this past January. “Two of his friends, driving coaches Patrick Wilmot and Andrew Pinkerton, posed a question: If they raised the bare minimum to cover costs, could the three of them run at Daytona?” This could be your blueprint to compete next year.
- I have posted links to Megan Lingner‘s posts on social media and motorsport marketing as she clearly knows what she is talking about and gives racing drivers actionable tips and techniques that they can use in their motorsport careers. She now has started a wait list for her e-course Driven By Social. “This course is the complete 4-step proven process you need to plan, create, and promote your social media profiles to attract your target market.” You can sign up for the waitlist here.
- Sportico has a fascinating article on MotorDAO, a decentralized autonomous organization that sets out to finance race teams and drivers with fan backing. “Potential investment opportunities include everything from presenting a young driver to Formula 3 to owning a race team. The only mandate: 85 cents of every dollar raised must be disposed of in some format of racing. “Think of it as a mezzanine financing strategy that is going to do two things: access the commercial rights of an individual team or driver, or access those commercial rights and ask the team taking the funds for a 6% or more return on the investment.” More details can be found here.
- Everybody wants to be part of a story and more particularly a good story, sponsors included. Being part of a feel-good story is something that needs to be nurtured and encouraged and it is up to you to make sure that any and all potential sponsors understand and embrace your story. How do you express your story? What if you don’t think you actually have a compelling story to tell? In The Power of your Story in the Search for Sponsorship I give you a few tips to get you started. Make sure you take notes as you go through the tips to help you build your story and why a sponsor should be part of it.