0,0,0,1

Well, if the first post was the origin (0,0,0,0), then this one is 0,0,0,1...movement in time, but still just an introduction.

Before one gets started in such a project, there are two topics that should be defined, (1) Purpose/Scope, and (2) Budget.  Budget, we don't need no stink'n budget!!  However, take it from a glorified accountant by day, budgets are pain and just a best guess, but important.  Having said that, I am a ways into this endeavor and still have not created a budget.  Which brings us to my first two mistakes, not heeding the advice of others to create a budget and not creating a budget.

So let's discuss scope for now, and we'll come back to the budget once I can sit down and create one.  The scope...hmm, well, at the very least it could be to have fun and scratch that very old itch.  On the other side of that spectrum is to become the next Jimmie Johnson or Rick Hendrick, which is safe to say won't happen (except perhaps while I am sleeping or zoned out in traffic).  So, realistically, how far can this go?  Can it replace my job and become a full time driver/owner??  Can it subsidize my income??  Can it pay for itself, or simply be an expensive hobby and past time??

I am also considering two phases to this venture, one as an owner/driver and another as simply an owner/manager.  As an owner/driver, I doubt it will go much further than having fun at the local tracks, learning the business, and perhaps it can get to a point to where it pays for itself.  As a team owner/manager (in several years), I would like to see it get to a point to where it can supplement or replace my current source of income.  To do that, it will need to be approached as a business from the start, which means a budget and a business plan.  I will also need to be aiming at the national level series, such as the World of Outlaw Late Model series or any of the other great national race series out there...perhaps even switching to pavement.

That is the long term direction of this adventure.  Over the next few months, I will attempt to get everyone up to speed on my current position, and I still need to develop a 1-3 year budget and business plan to go along with it.

Until next time....