Pre-Race Prep - The Sponsorship Plan of Attack
When Do You Start - Before or After You Need the Money? Lots of prep work so far - understanding the business of racing and sponsorship, the advantages of motorsports marketing, branding and customer loyalty, setting goals, creating a business plan and developing your team image. Kind of like getting ready to race, isn't it? A lot of work, and we haven't even made it to the paddock yet. Well, I am sure if you are like most racers, you don't mind the prep work because you know you are getting ready to go to the racetrack. And this prep work is what will let you be out at the track with someone else paying the bills. Awesome! So, what other prep work is left? Actually, no more work is left before we had over to the paddock. We've covered a lot about setting goals and putting together a business plan, but haven't talked about when during the year do you actually start your sponsorship search. The answer is - Right Now! Well, maybe not in the next few minutes, but as soon as you've got your basic racing proposal together and listed out some target companies to contact. These will be covered In The Paddock, but for now let's talk timing. Timing is everything.
Now, you may get lucky and hit the "lottery" with a sponsor right away, but that would not be the norm. Many times it takes weeks or months to finalize a deal, and that's only after they've said yes. And the larger the company, the longer it typically takes. With some businesses it could take a year or more from initial contact to getting a check. I've seen it, so don't ever give up on a potential sponsor. Here's the problem. Companies do their yearly planning and budgeting at different times, so that makes timing an issue if you only search once a year. Also, you never know how long it will take to find a business to say yes to your program and then go through the steps to closing. So what do you do? I know that you'll find this hard to believe, but if you're running your race team like a business, then guess what? Maybe you would want to market (i.e. search for sponsors) all year long just like most businesses do. Waiting to start the sponsorship search until right before race season is kind of like a college student putting off studying for finals and then cramming on the last day - a somewhat stressful experience for those who have done this. However, if you divide the work out over the year, life should be easier, and you can show up for that first race of the season relaxed and with a full racing bank account. One last thing before we move on. One of the most important steps a race driver takes at some point before a race is to prepare mentally for the upcoming challenge. It may be only a second or two or much, much longer. But most drivers "get their head clear" and on straight before they get in a race car. However, once the race is underway, the adrenaline takes over and the thrill of racing against the competition to the checkered flag keeps the driver totally focused. You must do the same in preparing for your sponsorship search. Calling on businesses, presenting your motorsports marketing program and asking for money can be just as mentally demanding as racing, especially if you've never done anything like this before. However, the more you prepare, the greater confidence you have in the process. If you approach your sponsorship search with the same tenacity as you approach racing the competition (even if you are not a driver), then I have no doubt you will have success in finding sponsors.
So, grab your helmet, wrench, lap top with data acquisition program, spotters' binoculars, or whatever you use for your role in motorsports, get your head on straight and let's head over to the Paddock and Go Racing Now!  
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