Series: Business Pit Stop

Loading...
This entry is part 1 of 11 in the series Business Pit Stop

I’ve written a short book for CEO’s, business owners, or anyone else running a business unit.  I’m going to share it on Trybe as a series broken down by chapter.  I hope it helps anyone who is trying to run and grow their business. INTRODUCTION   I started my career at a small business that…

Loading...
This entry is part 2 of 11 in the series Business Pit Stop

CHAPTER ONE – CHECK YOUR DATA   Modern race cars are fitted with computers that generate a lot of data. Race engineers are constantly monitoring the telemetry during the race. They can see when the brakes are overheating before they reach a point of failure. They can tell the driver to adjust various settings on the car, or to…

Loading...
This entry is part 3 of 11 in the series Business Pit Stop

CHAPTER TWO – CHECK YOUR STRATEGY   A race team will decide on a chassis design for the season. They will set a strategy for the number of pit stops during each race, and which tire compounds and fuel strategy to use. During the race, they will make adjustments as needed, but they don’t make drastic changes to…

Loading...
This entry is part 4 of 11 in the series Business Pit Stop

CHAPTER THREE – CHECK YOUR BUDGET Auto racing is expensive. The top teams in F1 spend roughly half a billion dollars each year. Engine development, R&D and top-tier drivers are important. Teams don’t risk their investment by saving $10 on an engine part or on cheaper brake pads. Quality costs money. You don’t want to lose the race…

Loading...
This entry is part 5 of 11 in the series Business Pit Stop

CHAPTER FOUR – CHECK YOUR TALENT The top F1teams are always looking to hire the best talent. The team principal is responsible for the entire operation. The aerodynamic engineer is one of the most sought-after individuals, since their designs can make the difference between great and exceptional. The drivers, engineers and mechanics are all important pieces of the team.…

Loading...
This entry is part 6 of 11 in the series Business Pit Stop

CHAPTER FIVE – CHECK YOUR ATTITUDE Everyone on the racing team has a job to do. The pit crew is extremely important during the race. Errors can cost lives or cause serious injury. Everyone on the team needs to have the right attitude and be focused on results. Similarly, your staff needs to be confident. Attitude starts at…

Loading...
This entry is part 7 of 11 in the series Business Pit Stop

CHAPTER SIX – CHECK YOUR INTEGRITY All race teams operate under the same rules. Teams are constantly checked against the regulations to prevent cheating or anyone gaining an undue advantage. Cars are weighed and measured, parts are tested and actions during the race are reviewed for possible penalties. There are certain rules to follow in business as well.…

Loading...
This entry is part 8 of 11 in the series Business Pit Stop

CHAPTER SEVEN – CHECK YOUR SCHEDULE Racing teams work long hours during the season. They spend a countless amount of time troubleshooting or perfecting the car. Pit crews spend hours practicing what takes them less than 2.5 seconds to accomplish during the race. When team members work closely together they develop bonds of trust and learn to collaborate better…

Loading...
This entry is part 9 of 11 in the series Business Pit Stop

CHAPTER EIGHT – CHECK YOUR EGO Many race teams have very powerful owners and principals. The smart ones know to keep their ego in check and understand that success is more important than always being right, or being the one in the spotlight. They hire the best driver, even if he is more popular or outspoken. As a business…

Loading...
This entry is part 10 of 11 in the series Business Pit Stop

CHAPTER NINE –  CHECK YOUR PROBLEM SOLVING SKILLS Even with the best team, the fastest car and the right strategy, things will go wrong. You’ll suffer a punctured tire. It will rain during the race and make the track slick. Teams can’t control everything so it’s important that they react and fix problems quickly to get back to…