Being an avid NASCAR fan I am always fascinated by what a race team has to go through for each race. Having to prepare for a season that lasts from February to November, each race team has a lot of prep work. For each team to succeed in their goal to win the Sprint Cup Championship they must prepare a strategy not only for the year but for each race. Following these strategies can help small businesses outpace the challenges they face and help them rise above their competition.
Here are 3 race strategies that can help your business:
Understand What It Takes to Run Your Business
On any race weekend race teams understand that a win is never guaranteed. They understand that the driver can be affected by an ill handling car; that the race can be won or lost by how the pit crew performs or that weather conditions can be a factor. Being able to adapt to the ever changing conditions that occur during a race can mean the difference between winning and losing the race. Having a good understanding of what it takes to run your business and keeping your smarts about it can be the difference between your doors staying open or closed.
Practice Makes Perfect
The best race teams get to that level by testing their cars and pit crews. Getting a car to the wind tunnel or test track allows for the team to try new things out and see how the car works in certain conditions. Having their pit crews continuously train prepares them to excel under race conditions. As a small business you need to strive to be the best. You need to be able to excel past your competition and continuously exceed your customers’ expectations.
Understand and Manage Your Brand
Drivers are competitive in nature and sometimes wear their emotions on their sleeves. It is this that the race fans identify with and support. Sometimes the race team needs to walk a fine line between an action their driver took and what the fans and sponsors expect. The team’s ability to balance these moments helps solidify the driver’s connection with both. Just as the race teams help the drivers create a connection with the fans and sponsors by putting their moments and stories front and center, you should do the same with your customers.
The 3 strategies listed above are just several that can apply to your business. Just as race conditions change so does those of your business. Adjusting your business strategies to adapt to those changes will help your business cross the finish line to profits and success.
Have you applied any of these strategies to your business? Have any that you can add to the list? Share your thoughts in the comment section below!
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