Reckoneer Go-Loop Process
“Get yourself thinking about
your racing business as a real business,
and not a hobby.”
(Or click on the image below)
Purpose of the Go-Loop Process
The Reckoneer Go-Loop Process is a starting point for race promoters who want to build better races.
It details the major milestones that every racing business needs to address.
You may find that the Go-Loop Process creates more questions then it does give answers.
That’s because it is designed to start making you ask questions about the way you do business.
It is also designed to start getting you to think about your racing business as a real business, and not a hobby.
My hope is the Go-Loop Process leads you towards a new way of looking at your own race promotion process.
How do you use the Go-Loop Process?
The Reckoneer Go-Loop Process is a high-level introduction to a race promotion business model.
It includes most of the milestones you need to have in place before you could realistically start building better races.
This is why the process asks you very subjective questions on topics that you should consider answering.
However, there are no one-size-fits-all answers and your answers will be specific to your race promotion business.
Ideally, you should:
- #1 – Go through each milestone and ask yourself the question presented
- #2 – Think about your business and how you manage it
- #3 – Does your business already an answer to the question? If so, what is it?
Once you go through the process, you should have a good idea on what you do and do not have answered.
Chances are good that you DON’T have answers to several of these questions, or the answers you do have could never communicate to someone else.
Now is your chance to fix that!
Go-Loop START Milestones
Here are the milestone questions featured in the START stage of the Go-Loop Process:
- 01 – Vision – How and where do you see yourself — and your race — when your race business is completed?
- 02 – Mission – What goals and objectives do you have to inform and guide you in completing your vision?
- 03 – Principles – Do you have standards in place to help you make better business decisions?
- 04 – Accounting – How will you account for all of your expenses, measure revenues, and understand how you will make a profit?
- 05 – Branding – How will you build your brand identity, collateral, web presence, and marketing materials for your racing business and each individual race offering?
Go-Loop PROMOTE Milestones
Once you have completed the initial process, the Go-Loop then it moves into the PROMOTE cycle.
This includes all the systems and processes that you should have in place when planning, building and directing a race.
Here are the milestones questions featured in the PROMOTE stage of the Go-Loop Process:
- 06 – Planning – How will you produce your races?
- 07 – Permit – How will you build and present your race to obtain permission from park and property managers?
- 08 – Build – How will you prepare your racing company for each race day?
- 09 – Race – How will you organize, manage, and direct your race on each race day?
- 10 – Analyze – How will you collect feedback, race day information, and lessons learned before, during, and after race day?
- 11 – Learn – How will you measure and respond to both positive and negative information collected during each of your races?
Go-Loop EXPERMIMENT Milestones
The Go-Loop process ends with the EXPERIMENT cycle.
This includes the way you should be applying feedback, race day data, and lessons learned back into your racing business.
Here are the milestone questions featured in the EXPERIMENT stage of the Go-Loop Process:
- 12 – Observe – Are your current race promotion activities making you successful?
- 13 – Review – What can you change, add, or stop that would help your business improve sales, increases participation, or take advantage of new market opportunities?
- 14 – Revise – What impact will making the change, adding a new race, or discontinuing a race have on your racing business?
- 15 – Measure – How will you know if your changes improved sales, increased participation, or impacted your bottom line?
Need some help getting started?
These articles and podcast episodes are centered around the START Milestone questions featured in the Reckoneer Go-Loop Process:
00 – Start – My article Learn to focus on the right things to propel you forward will help you answer the question: How do I overcome the fear of starting?
01 – Vision – My article It is time for you to have a vision will help you answer the question: How and where do you see yourself — and your race — when your race business is completed?
02 – Mission – My article You start with a roadmap will help you answer the question: What goals and objectives do you have to inform and guide you in completing your vision?
03 – Principles – My article Principles of a profitable race will help you answer the question: Do you have standards in place to help you make better business decisions?
04 – Accounting – My article Race profits are evil, and other money myths will help you answer the question: How will you account for all of your expenses, measure revenues, and understand how you will make a profit?
05 – Branding – My article How not to suffer pre-registration woes will help you answer the question: How will you build your brand identity, collateral, web presence, and marketing materials for your racing business and each individual race offering?