I want to express to everyone in racing that the only way to achieve sponsorship is by planning out each step. The name on the car; just doesn’t cut it at all. Each race is so important to express the power of the sponsorship. Some race teams tell me all the time. “If we just had the funds as that major race team that we are competing against; we can compete!” That is not the fact at all. It is all about you; who do have on your team? Who are you hiring to be on your team? Who is putting the car together? Who is part of the pit crew? Who is in charge of hospitality? Yes you have to take care of the people that give you money at all times. How much is the team owner putting into the team with; a tie in to the funds of the sponsor? You just can’t rely on sponsors to pay for your sport if you are the team owner. What makes a team owner at all at that point, if you can’t pay for the survival of your team in transition? That means when you lose a sponsor. Keep your team mates out of the finances at all times. That is why you should have an accountant. You should have an attorney for every piece of paper you sign, if you don’t budget that you will become a fan instead of a team owner. Gossip has become a major part of racing; make sure you stay clear of all the people that say drama about other people that are in no way true at all. When you look at all the process to become the team owner in motorsports; it is very simple. Just pay the fees of whatever racing league, and you’re a team owner. Then pick your leaders (Team managers, crew chief, marketing personnel, and support staff). Now you should look at the best driver out there for your team. Don’t look at the guy that is paying for the ride at all. Look at the person that can drive under your development of becoming a team owner(crash damage can be a nightmare, plus you never know what drivers will say about your efforts to the media when the driver is live on an interview). The people that start the gossip about other people get rid of as fast as they came into your company. I know one company in Wisconsin that asked me about “Why the IRL doesn’t like their company at all?” Well I suppose it is because during the major open wheel split; that particular company that asked me that question; it is because of all the gossip this company caused during that major split. If you’re a new team owner stay away from things you can’t control. You can’t control what old racing league fights. That goes across the board. Each racing sanctioning body has a major marketing director that will help you with what companies can be on your car. Make sure you actually read your rule book for whatever racing league you join for your budget. This should be your bible for the racing league you join; all the rules are in that book. Make sure you attack each race that you are in with all aggression. Have the best media person on contract; make sure that person does their job at all times at the track. It is vital that the media knows all about your efforts with your driver and race team. Your marketing team blankets the area with great sales for the town you will be in, and have reports to each fact. Major sports teams outside of racing can’t just walk in and pay a fee and start a sports team like you can. Other sports have to go through some sort of committee or financial board of directors before any chance of you owning any sports team at all. Racing is very different; if you have the money, you have a race team. Your race team should be built on the bases that was set on the values that your primary business was set on in the first place; to get you in the position of funding your race team to start with. Stay low key until you hit full stride; and get on the race track, and qualify for your first race.
Jim Gandolf
