5 Winning Business Strategies I Learned on the Race Track

For nearly 20 years, I’ve pushed my limits on the racetrack, as a hobby of sorts. I’m not a professional, let alone amateur race car driver, but I have spent many hours in my car and other much nicer fine-tuned automobiles, exploring the limits of my abilities and that of the vehicles themselves. While I’ve traditionally kept my interest in driving fast cars separate from my business, I recently recognized the parallels between being a successful driver and entrepreneur while out on a drive. Below are five components of a championship racing experience that directly translates into running a more successful business.

Practice Makes Perfect

You may be familiar with Malcolm Gladwell’s 10,000 hour rule: it takes roughly ten thousand hours of practice to achieve mastery in a field. This is true of any subject, from racing cars to running a business. I’ve run my own company for 15 years, which is more than enough time to accrue my 10,000 hours, yet I’m far from mastering entrepreneurship. Similarly, I’ve driven cars for well more than 10,000 hours, but not nearly enough on a track to show any semblance of mastery. That doesn’t stop me from practicing and refining my game on all fronts. It shouldn’t stop you either.

My first track experience was with a driving school in my 1995 Honda Civic. I’ve upgraded cars since then, but there are limits to what you can do and learn in a modest daily driver, so I upped the ante and invested in a few weekends of World Class Driving and Track Days. I’ve improved my skills on the track which has improved my confidence in my off-track driving as well. More importantly to this discussion, however, is how what I’ve learned on the track has helped me in business.

I’ve run my own marketing agency since 2000, and have relied on mentors, advisors, peers, organizations and a board to help guide my business as I would a driving instructor. It has kept my business from getting off-track and has improved my efficiency (aka speed). I’ve learned the hard way that I can always solve a problem on my own, but it’s much faster and more efficient to work with professionals to get to the answer more quickly and efficiently. When running a business becomes second nature (like driving a car), you begin to see significant results.

Smooth is Fast

In driver training, the instructors start with ground school, which means you sit in a stationary room and learn the fundamentals of physics on a chalkboard before you ever get on the track. One of the most important and impactful lessons I learned on the first day: objects in motion tend to want to go in a straight line. That means cornering on a track, by definition, is a tricky matter. At high speeds, the smallest bumps and changes in surface can send the car careening off the track. If you hit the brakes hard while turning the wheel, the car will continue to go straight (into a wall usually). The way to deal with this immutable law is to drive smoothly as if the track is wet, or better yet, icy. The smoother you drive, the faster you can (safely) go.

Business is no different. A smoothly-run business is more efficient, which allows the team to push harder, or expend less energy to achieve the same goal. At Anvil, we call it The Swing. The more you can streamline your business with talented people, process, tools and partners, the better you will perform. You can push your limits and go for the win, or save your energy and increase the odds of racing another day towards the championship.

Look Two Turns Ahead

Focusing on the car in front of you is a recipe for disaster, at especially in a race situation. Champions look down the track beyond the next turn in order to prepare the optimal path (or race line). In a race situation, being able to anticipate what your competition will do so you can take advantage of the situation (and pass them) is essential. Knowing the other driver’s capabilities is as important as knowing the track itself.

Unfortunately, business isn’t a loop where the landscape stays constant and you know a great deal about your competitors. In some cases, you may not know what track you are racing on or who you are racing against. Regardless, you need to always be two moves ahead, even if that means anticipating forks in the road and are ready to make choices as you arrive. Understand the moves you will need to make to cross the finish line first, from financial planning and recruiting to sales projections and customer support.

Carry Momentum

Another lesson in physics: keep your speed up on the course, especially out of the turns. You will never win a race by braking first or hardest, as it requires that much more energy to get your speed back up after the turn. It’s also dangerous to brake too late and enter a turn “too hot” and wind up kissing the wall. It is critical to understand the minimal amount of braking to get through the turn safely and maximum amount of throttle to get you out of the corner and ready for the next turn, without spinning out (into that same wall) in order to win.

In business, look for opportunities to leverage existing momentum with employees, partners and customers. Strike while the iron is hot: ask for testimonials or referrals when a customer gives you positive feedback or review. Ask for referrals from long-time or particularly happy clients, and don’t forget to ask your own team for referrals to new talent, prospective clients or partners. Everyone wants to be on a winning team, so leverage wins as often as possible by sharing them as success stories.

It Takes a Team

An NFL quarterback doesn’t win the Super Bowl alone any more so than an F1 driver wins the championship by themselves. True champions know this and will tell you as much. It takes a team to get a car across the finish line first. Even on track days in your own car on a small budget, you need a reliable car, mechanic, a gas station for fuel, instructor and safety workers to ensure you are safe and fast.

In business, even a solopreneur or consultant relies on their network to support their business. For larger companies, owners/founders/executives are only as successful as their weakest link. High growth companies are constantly fine-tuning their teams for optimal performance. Understand the strengths and motivators of your team and give them the support they need to propel you to the finish line with the best possible results. Recognize those that help you achieve your goals, help them grow and never stop recruiting and evaluating new talent.

You don’t have to be a professional race car driver or Inc 500 company to take advantage of these five success factors. Start your fruitful career in racing and/or business today. You can’t win if you don’t get behind the wheel and take a few risks.