8 More! Business Lessons from Formula 1

8. Team Work 
    how many races have been won on the12. Reward performance
pits.  the speed, the team work, the sheer grit    You win you get paid.  most drivers need
of the guys in the pit crew, can make (or break)to pay to get a drive with a team.  talk about
the drivers race.  one second won at the pits, istalent management! once you show you are
worth a minute on the track!capable of winning, once you start the process of
 winning, money starts coming!
9. Processes 
    Clock work.  Its amazing the amount of13. Demand performance
testing these guys do.  tests, tests, test.  even    Drivers get sacked, so do team bosses, so
when a grand prix race is on, another part of thedo designers and so does anyone not able to
team is testing for the next race.  even whenperform.  there is no time for people who cannot
the current season is on, another part of thedeliver.
team is developing the car for the next 
season!  14. know the rules, learn the rules, stretch the
 rules!
10. Long term strategies    FIA is the governing body of the sport. 
    Mclaren boss Ron Dennis has beenthey come out with a set of rules (very very
sponsoring Lewis Hamilton from the time Lewistechnical stuff).  each team then pours over it. 
was 3 yrs old.  he finally brought him into formulathe ones who come up with the most creative
1 this year.  Lewis would have created history (ininterpretation of the rules are generally the ones
many ways he did) as he was on his way toleading the race. (corporate example? Reliance?)
becoming the youngest and only rookie driver to 
become world champ! That is some long term15. Adapt
strategy!    Teams don’t go talking about how the
 race track has too many turns, and how the
11. Short term quick fixessunshine was coming in their eyes, or how the
    These are very sophisticated machines. weather was a touch too hot( or cold).  they
things go wrong, things break down, parts blowadapt.  they adapt immediately. if it starts raining,
up.  its all par for the course.  teams don’tthey change tyres, change the setup and then go
sit and criticize at that juncture, they don’tout immediately to do what they came to do,
start talking about how amazing the design wasWIN!
and how something else could be wrong and not 
what they did.  they just fix it.  they useI could go on, but then I wouldn't be epitomizing
whatever they can and get the car on thethe one thing I love about Formula 1.. Focus!
track.  the analysis will come later! p.s I root for Ferrari!