My recent visit to V8 Supercars event in Tasmania was an eye-opening experience. It inspired this week’s Enterprise post on “4 ways to adapt your business to the fast lane”.
The last time I went to a motor racing event I was 19, it was Mount Panorama at Bathurst, and I swore I’d never go to another one ever again. I spent most of the day trying to avoid drunken louts perched on sofas which they brought to the track on the back of utes. They were surrounded by endless slabs of beer and some smoked dubious smelling substances. At the end of the day, these sofas were unceremoniously torched after the final race and the aforesaid louts left the track with a sea of carnage in their wake.
So when I went to the Tasmania Microsoft Office 365 V8 Supercar event last weekend, I wasn’t prepared to find cappuccinos, a Disney amusement park for kids, and a crowd so well behaved you would be forgiven for thinking you were at a church picnic. (Just a very noisy one.)
The business of motor sport is, after all, a business. Like all businesses, it has to adapt to stay relevant to its fans, drivers and sponsors. With about 70 core staff, V8 Supercars is owned by private equity firm Archer Capital (70 per cent) and the race teams themselves (30 per cent). Archer Capital acquired a majority stake in May 2011.
So what can all entrepreneurs learn from the evolution of this business?
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