7 Business Lessons from Formula 1

1. Winningteam.  
There is only one world champion in Formula 1. 5. Mental & Physical stamina
There is only one Grand Prix winner.  even if thatIt is one of the most physically demanding sport. 
is only by a thousandth of a second.  Its all aboutThe drivers go through up to 5g (gravity) pulls at
winning!various turns and high speed corners.  An
2. Continuous improvementaverage driver will go through more g force than
This is where its such an amazing sport.  Thea fighter jet pilot.  the mental stamina cannot be
cars develop every race, sometimes every lapstressed.  split second decisions.  a minute is a
run of laps.  The teams will bring new parts tolifetime in this sport!
every race weekend.  While the race is on, thereThe regime followed by the drivers, the teams is
are so many parameters the drivers can playnothing short of stunning.
with, they are literally improving the car with6. Innovation
every lap, be it with down force, fuel mix, brakeOh!  This sport thrives on innovation.  you need
differentials...radical designs, radical thought all the time.  the
3. Technologyminute you debut a product in the market place
The best there is.  Immense amount of money(read race) you can be rest assured another
spent on technology.  sadly some of thecompetitor will be working on using the concept,
spending is being reigned in, but still this is thethe design in the next race.  
sport that brings to fore all that is new out7. PR, Marketing 
there.  normal road cars benefit hugely.These guys are very very good at it.  they
4. Developing key Partnerspromote, the bring the fans(read customers) in. 
Each team has key partners. engine suppliers,Every race is a spectacle.  a whole weekend of
chassis designers, Tyre (now only one brandactivity.  a single race brings in over a lac of
allowed), fuel, and other sundry parts.  each ofspectators and more!  each race could be making
these suppliers works as part of one larger$500 million adding all revenues.