This week in The Business of Being a Race Driver there is advice on building your confidence, some free motorsport resources you can use including a sponsorship deck template, a reminder that finding sponsors is a lot of work, and understanding what sponsors want. All this and more in The Business of Being a Race Driver.
The Business of Racing
- Megan Meyer looks at how to Get More Funding with These 3 Confidence-Building Steps. “Turns out, confidence is a key factor in your success. This is true of lots of moments in life, but most especially when you’re asking for funding. If you’re not confident in yourself as a racer and marketer, your sponsors won’t see you as the diamond in the rough you might think you are. Building your confidence in yourself and bringing that energy to your sponsorship meetings doesn’t have to be scary. Here are my best tips on how to be more confident when asking for funding.”
- Megan has also launched her Fueled and Funded motorsports sponsorship group coaching program. It is a a “9-week program for serious racers, so you can get the sponsorships you need to become a full-time paid driver“. You can get more details here.
- Ikoniqa has some excellent free motorsports resources that you can use, including a sponsorship deck template. “We’ve taken the custom presentation decks designed for our clients and turned them into products you can now download for free for use in your own racing and business endeavors. Custom deck design is no longer offered as a service from us except for current clients or clients looking to use presentations to close or capture high value (high 6 / 7+ figure) opportunities.”
- Blackbook Motorsport has released their latest research report Driving value: The business of motorsport sponsorship in 2022. “BlackBook Motorsport’s new report shines a light on the changing face of motorsport sponsorship as series, teams and brands get to grips with a landscape increasingly shaped by new media, social issues and technology.”
- In his recent Lesson for the Day, sponsorship marketing consultant Daryl Curtis explains how Sponsorships Don’t Happen Without A Lot Of Work. “But, the bottom line is, you will invest a lot of hours in doing the research, creating that understanding of that company and preparing your material that you will present to that company. This will always be the case if you plan on being successful.”
- The Racing Mentor has created an exclusive Sponsorship Blueprint for their Sponsorship Academy and it looks quite interesting and helpful. “The blueprint allows students to critically self-evaluate their progress and learning journey. In real terms, this means it’ll help you remain accountable and see your own progress. The Sponsorship Blueprint breaks down the transformation drivers tell us they want to see.”
- Episode 43 of The Racing Mentor Podcast looks at how to find and understand sponsor goals. “You can find out so much about a potential sponsor before you pitch. By understanding their goals, you can create something that not only wows them but also provides clear value. In this episode Jess and Toby talk about how to find those goals and use them in your pitch.” You can listen to the episode here.
- Following on from The Racing Mentor’s podcast above, understanding what business’s want and need from their investment in you as a driver with their sponsorship is critical to your success in obtaining and maintaining your sponsors interest and funding in you. You always need to understand both sides of the relationship if you are to be successful in your sponsorship acquisition efforts. Not only should you understand what they want and need, but, if they are unclear on what the benefits of sponsorship are, you can use articles like these to educate them.
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.