In The Paddock - Develop Your Racing Proposal

Is It Really That Important?

Okay, were in the garage and it's time to get your hands "greasy" so to speak and start working. This next section will cover the racing proposal development process. First, let's talk about one of the primary functions of the racing proposal. Under the Racing Business Plan section, we discussed that your proposal (business plan) is a roadmap to help you reach your racing goals. In relation to potential sponsors though, you're racing proposal tells them how your racing team is going to increase their bottom line and why they should do business with you.

Sounds pretty important, doesn't it? As a matter of fact, it is probably one of the most important components of the entire sponsorship search process. It is kind of like a résumé when you're job hunting. A good one can get you in for an interview, but a poor one will likely result in one of those "Thanks for playing, but..." letters.

As we cover each of the major sections of the racing proposal, there is one key idea you should keep in mind - each and every potential sponsor is tuned in to station WIFM - What's in It For Me! Your racing proposal must be focused on the needs of the sponsor. They don't care how many races your team has won if your proposal doesn't show how you're going to help them achieve their business objectives.

One more note. This overview of the proposal and its components is of course not the "end all, be all" of proposal development material. As such, if you would like to do some additional research on this subject, as well as see some examples, I've provided some links for a few excellent resources in the Sponsorship Resources section.

Next section: The Racing Proposal Components - Go there now!