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By John Kilroy on January 26, 2016

The first quarter of the year is an excellent time in the annual racing industry calendar to take stock of various aspects of the business, and look for areas to improve the bottom line. I'd like to use this space to share some thoughts on key issues to review.

The first issues are sales and promotion. It's been mentioned before in this column that too many racing businesses rely on their knowledge of speed, and results on the race track, as the big generator of new customers and revenue. We agree that the success of a small racing business begins here, but we've always argued that one of the fastest ways to increase revenue without padding overhead is to simply be better at selling. Look for ways to raise the average value of...

Continue reading Taking Stock »
By Dan Schechner on December 29, 2015

* Powerful Parts Of PRI 2015: Attempting to encapsulate the 2015 PRI Trade Show in a single column is like trying to squeeze a NASCAR pit crew into the back seat of a smart car. It’s not happening. And besides, PRI Magazine will provide a thorough wrap-up article in our February 2016 edition anyway. So this editor is off the hook, at least for now. But I did get to thinking about a phrase that’s often used to describe the Show: “It’s like no place else on Earth.” And beyond the product launches, the networking, and all the business taking place throughout the week, there were a handful of moments that really helped bring this colossal event into focus.

One occurred during the...

Continue reading Views & Notes: New Year's Edition »
By Stuart Gosswein on December 4, 2015

SEMA has created a new website resource to help the motorsports community understand state and federal law governing trailers and tow vehicles. The website provides guidance on how racing enthusiasts can avoid citations for a trailer that is too long, a trailer that is not properly registered with the U.S. Department of Transportation (DOT), or for other related issues.  
 
When issued, citations generally fall within two categories:

1) the size of the trailer violated state law, or

2) the vehicle/trailer combination was considered “commercial” by enforcement authorities but had not been registered with the DOT or state-equivalent agency. The webpage divides the resource material into three sections...

By Paet Hidalgo on November 30, 2015

Is your business positioned to win or is it a field-filler?
 
Have you and your team made a real effort to engage in planning and positioning your business for the future? Do you have a game plan that will help ensure your company’s viability, relevance and growth in the years ahead? Are you flourishing or slipping; innovating or stagnating; driving or hanging on?
 
So many unexpected or accidental entrepreneurs find themselves in business on the legs and strength of a timely, revolutionary or superior idea that they turned into a successful product or service. They didn’t rely on business plans or any kind of formal plans for that matter; no strategy, market or viability studies—just the desire and...

Continue reading Your Future Is Now »
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