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F1: Winning Lessons
(BRAWN GP & VIRGIN) Kevin Abdulrahman explains the fundamentals of F1 marketing and derives the marketing coefficient between Brawn GP and Virgin
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NOVEMber 2009
The sport of F1 becomes the talk of town for weeks prior to the race, and of course the race day itself. And with races happening all over the year and all over the globe, there is an immense amount of coverage given to this sport (or should I say business) that makes it hard to miss. With the race having concluded in Abu Dhabi and set to start in March 2010 in Bahrain I thought it would be fitting to make the sport of F1 the topic of this month’s article- in particular Brawn GP and Virgin which have served some great winning lessons that you can apply within your own life and organisation. Brawn GP was initially at risk of being struck off (like many companies and individuals who were hit by the crisis) only to have come out at the end of the F1 race
year as a sought after brand and holder of numerous wins throughout the season, topping it off with Jensen Button as their driver, the F1 champion of the year. All this in fewer than 12 months.
THE ACTION
December 2008 marked the exit of Honda from F1 racing. It was a business decision for them. However that left 700 members including Ross Brawn the man at the helm in limbo, until Brawn GP was spawned with the initial backing of a major sponsor. Surprise surprise, it was Sir Richard Branson- the Virgin group. In reality, when the news broke in March 2009, it wasn’t a surprise, because every winner could have seen the potential Sir Richard Branson saw. Yet as we experience it time after time in life, winners are rewarded because of the actions they take not the potential they notice.
RISK AND REWARD
The smartness of Sir Richard Branson for being able to pick up on potential and act by sponsoring Brawn GP, has seen his Virgin label being extensively branded to a global audience throughout the F1 season, and more so thanks to the success Brawn GP ended up having.
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Was there risk? Absolutely! There are no guarantees in business as there is no guarantee that we will be fortunate to live another day. But there is also the reward that Sir Richard Branson time and time has proven when taking calculated risk backed by a vision and more importantly acting on it, even when the majority of people may not deem for it to be at a suitable time (crisis in full swing). Because frankly speaking, the majority will never think there will ever be a suitable time and it is up to the winning leader to make the calls, and tough ones in most occasions.
INVESTING IN TALENT
The most investment of wealth is often seen to done in systems, infrastructure and resources. And as important as they are, I would like to suggest that your best investment will come from investing in talent, investing in developing, nurturing and training your human capital. This is an investment that will help drive the maximum out of all the other investments you make. Not privy to the details behind the backing of Brawn GP, I would like to suggest that investing in talent (both driver, Ross Brawn the man in charge and entire crew) would have been a contributing factor in the decision making process by the Virgin brand.
THE BRAND THAT HAS BECOME
Now that Brawn GP have proven results and hold the champion driver of 2009, they have become a sought after brand. I wouldn’t be surprised that their position in December 2009 will be a far cry from what it was in December 2008. Today they are in a position of picking and choosing sponsors that are all so eager to become a part of a winning team.
THE RETURN ON INVESTMENT
The exposure for brand Virgin was phenomenal in terms of the investment they made for simply making an entrepreneurial decision and going with it. They saw a strong team, and most important of all, they invested for the future of what the team could be, and in the process hit gold, if not more. To say that their return in investment (what ever dollars they parted with) has been phenomenal is an understatement. In the haziness of the moment, Sir Richard Branson saw the potential through it all like any leader would.
“The exposure for brand Virgin was phenomenal in terms of the investment they made for simply making an entrepreneurial decision and going with it.” AND SO WHAT CAN WE LEARN FROM THIS SNAPSHOT?
Firstly believe in yourself, in what you have and more importantly in the team that you have. After all it is the people in your team that is of most importance. That belief will ultimately translate to attract the right backers. As a backer, you are already on the look out for entrepreneurial breakthroughs and opportunities. Be a leader who can see long after the dust has settled (sometimes literally). In life and in business, everyone wants a sure bet, and yet there is never such a thing. What can you do by thinking out of the box? Where can you gain an advantage? Where can you develop an edge? What decisions should you make today that could potentially bring in significant returns for you in the future? Think out of the box and take calculated risks. You too could be sitting somewhere in the spectrum of this great Brawn GP experience. You would have heard the saying, ‘build and they will come’. Well when it comes to being a winner I will suggest that ‘believe and they will support’. Believe long enough and work your vision tirelessly. Sooner or later you will be in-
undated with supporters. And just like today where global names are vying for a place to associate themselves with Brawn GP, you too can enjoy a similar experience. After all, everyone wants to back a winner. Have a Winning Month.
Kevin Abdulrahman is The Man Inspiring Millions. He is an International Author of THE BOOK on Winning The Game Of Life, a Keynote Speaker, Mind Nutrition Expert, World Class Mind Coach to the Elite and an InDemand Trainer. Kevin’s articles are regularly published in magazines, reports, newsletters and newspapers, constantly being used as resources all over the world. Kevin helps organizations, universities, sports teams and individuals create breakthrough results. To have Kevin Abdulrahman speak/train your organisation, you can contact his team on http://www.TheManInspiringMillions.com or email info@MeetWithKevin.com
NOVEMber 2009
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