“The goal of a Race Promotion Business
is to make money.
So why do some many think profit
is a bad word?”
Guide to Race Money
Money is the hardest concept for most race promoters to deal with. It is no surprise that most race promoters that go out of business, do so when they lose their grip on the connection between prices, sales, and cash flow. To help you tackle many of problems race promoters have with money, I curated these race promotion articles into a guide centered around the way race promoters deal with expenses, revenue, and profit.
- Look before you leap into race promotion: Once customers started to show an interest in the discipline, the races started to materialize. But when you are first starting your race promotion business, you do not have the luxury to conduct promotional experiments.
- Race profits are evil, and other money myths: Race promoters are not allowed to be happy about making money on a race. Promoters actually feel that any talk of money is akin to bragging. They are actually afraid to think about making a profit, and terrified to let racers know they have. So let’s end these myth right now!
- Principles of a profitable race: You need rules to how you approach ever race you build. These first three principles — Core Reckoneering Principles™ — set the stage for how you should approach any race promotion challenge.
- The 5 steps to getting your event under control: Race promoters that refuse to give themselves rules that keep their ambitions under control, have nothing in place to stop you from going overboard. And going overboard means failing. Develop an understanding of how the principles of a profitable race can be applied to any event you are planning.
- Putting the fun back in race budget fundamentals: Just how much does the average racing endeavor cost? Find out by learning the fundamentals of how a race budget works.
- How to set the right price for your race: Figuring out what the right registration price to charge for your race is not easy. That’s why you stop the guess work and start using a process that works.