NASCAR’s getting pretty popular these days.  My oldest son, Brad, has become quite an auto racing fan.

So, what does this have to do with business and finance?  Plenty.  There are a number of parallels to run an effective business and being successful in NASCAR.  While my knowledge of auto racing is pretty minute, I think I can draw some parallels.  Here are some key things that your company needs to be ready to run the race of business and be in it for the long haul.

1.  Road Map.  You need to have a sense on where you’re going.  Okay.  (Inaudible) on NASCAR you’re just going around the loop, but in most instances when you’re taking a long trip of 500 miles, you want to have a map to get you going in the right direction.  Someone good in the financial area can be a tremendous help to you in the strategic direction, and help give you suggestions on how to change your course and help keep you on track.

2.  Fuel.  You wouldn’t go into a 500 mile race without having adequate fuel set aside.  And, I wouldn’t go into business without having your business fuel lined up.  Do you have the capital and equity that you need to get going and keep going?

3.  Dashboards.  Dashboards are tremendously important to know how you’re doing in a race.  A dashboard is critical to know, show you when you’re running out of fuel or keep you in touch with other key metrics.  Sadly, many businesses are run without having their hands on such key items.  They wouldn’t drive their car without a fuel gauge, but they very well could be running their business just that way.

4.  Pit Crew.  While the racer may get their glory in NASCAR, they certainly know that they rely heavily on the solid team behind them in the pit crew.  Same holds here, you can need a solid financial team and other people behind you in order to be able to operate your company effectively.

5.  Technology.  The NASCAR technology’s a big thing, little tweaks in performance can make the difference between losing or winning by a nose.  Similarly, technology can be an important part in your particular business too.  Do you have the right technology to operate your business to provide your reporting that you need and is the technology in good shape to keep operating?

Well, that’s just a few thoughts.  Score well on all five of these and you’re gonna run through the race of business very quickly and make it to the winners circle.