Racing is an expensive sport and with more money, you can get better equipment, a better team, and a better car. So how do I get sponsors? The times where a sticker on the car was enough is gone. You have to think about value. What value are you creating? Are you selling products? Are you selling leads? Are you building a brand? Are you an influencer in your domain?
When approaching a company for sponsorship, you have to know what value you can create for them. Meetings can go in different directions, but you should have a genuine interest in helping the company. If you can prove that you can to create value for them, the money will start to increase as the partnership matures. Hard work gets you far. When approaching a company that you want as a partner, you begin by adding value for free. You give them so much value that it’s impossible to say no. If you set aside 10 days, where you help them with fairs or leads, or about anything you can contribute with, you will begin to make yourself valuable and that is the most important factor for a healthy partnership. The sticker on the car is the last thing you do.
OK, so what is the actual first step? Write down what contacts you have, do you know a CEO or marketing director? A friend of a friend is good enough, start there. Its the easiest way to get feedback on what you are doing and you already have some social leverage. If you have no clue what to offer them you show up at there office and offer to help with anything for free. Do that on a regular basis you will find (or they will tell you) what you can contribute with, and what they are willing to pay for that. Be clear from the start that you are there to create value for them in return for sponsorship for you to go racing. Want the complete master class on how to find sponsors? Get it here in the upcoming Funding and sponsors course.