Stop Focusing on Sponsorship
by Don Terrill ©2003

If the goal is money, then stop focusing on getting sponsors and start focusing on money. It’s like the advice I give on retirement, stop focusing on investing and start focusing on earning – it’s a lot easier to control earning than it is investment returns.

I know I’m going to get flame mail for that one.

Now, the most popular way to fund a team is through sponsorship, but there are other ways. In fact, I think many are easier than looking for sponsors. Let’s look at the 3 ways to fund a team:

1.) Out of pocket
2.) Sponsorship
3.) Winnings

Let’s just look at out of pocket funding. There are two things involved here, what you earn and what you spend.

Profit = Earnings – Expenses

Increase your earnings and you’ll have more money for racing, decrease your expenses and you’ll have more money for racing. Simple, right? We all have some ideas for lowering our expenses, but what about some tips for earning:

1.) Ask for a raise – A hit and miss prospect at best.
2.) Work overtime – Sucks.
3.) Take a second job – Really sucks.
4.) Start a sideline business – Bingo!

Starting a part-time business is the simplest way to come up with extra funding for you team. Great Don, but I have no idea what kind of business to start. Well, I recommend starting a racing business and here’s some examples:

Service type business – If you work on race cars I’m sure you’re pretty handy. Can you rebuild carburetors, work on engines, freshen transmissions or …? I’m sure there’s something you know how to do that most racers don’t.

Product type business – This can be a tough business to get started, but can also be the most rewarding. Do you have an idea for a new product? Then create it. Do you know of a hot new product that racers are having a hard time finding? Then resell it.

Open your eyes, there are opportunities all around you.

If you’re reading this then you’re obviously on the internet, here’s a site with ideas you can use today.

www.RacingIncome.com

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Other Resources: Winning Proposals, Sponsorship Roadmap, Sponsorship Coach, Sponsor Hunt

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