In this episode, Beth Paretta's journey from working in the Alpine ski business to the automotive industry and eventually becoming a race team principal. She shares her insights on how to manage a race team, the importance of sponsors, the benefits of being bilingual, the need for financial independence for women, and the importance of taking advantage of grants and networks available to minority business owners. She also outlines the importance of watching races, picking a driver to root for, and getting involved in amateur racing. These points emphasize the need for more diversity in corporate America and the role that minority business owners can play in helping to achieve this goal.
Beth Paretta is the CEO, Team Principal of Paretta Autosport, a professional women-forward racing team in INDYCAR working to inspire and encourage diverse paddocks around the world. In 2021 she founded Paretta Autosport to champion diversity initiatives across professional racing disciplines including the NTT Data INDYCAR series and the Indianapolis 500.
Beth was named one of AutoWeek magazine’s “Secret People” who will change the car world; as well as a “Game Changer” by Sports Business Journal for her work with Grace Autosport. She is on the Board of Directors of the Motorsports Hall of Fame of America in Daytona, Florida. She resides near Detroit, MI. Here are a few of the topics we’ll discuss on this episode of The Urban Income Show.
- Beth Parretta's career journey from the Alpine ski business to the automotive industry and then to race team principal
- The importance of problem-solving skills in business
- Being respectful and thoughtful
- Advocating for yourself
- Fans can have more access to IndyCar races
Resources
Connecting with Beth Paretta:
Connecting with Lavall Chichester
Quotables:
- 16:42 - “That role then gave me experience in racing. And that's when I get this light bulb moment of, okay, now I want to get more women to do what I do.”
- 25:27 - “It's about making sure that you do what you say you're gonna do."
- 39:28 - “There is something to be said for as long as you can pay your bills. And if you have a safe, nice place to live and you're, and you're paying your bills, not everybody has to make $600,000 a year. You could make $50,000 a year and be happy and content."
- 39:57 - “And my mother used to always say spend within your means, that's the secret to happiness.”
- 41:14 - “The answer isn't I need more money. The answer is how I spend it."
What is The Urban Income Show?
Welcome to the Urban Income Show, a financial education podcast that highlights the accomplishments of minority leaders in various industries. Join us as we interview CEOs, CMOs, CTOs, founders, and other executives to discuss their journeys to success.
In each episode of Urban Income, we delve into the personal stories and insights of our featured guests, exploring the strategies and tactics they have used to overcome obstacles and achieve their goals. We discuss their perspectives on topics such as entrepreneurship, leadership, personal finance, and career development, providing listeners with actionable advice and inspiration to fuel their own journeys.
Through our conversations with these accomplished minority leaders, we aim to showcase the power of diversity in the business world, and demonstrate how anyone can leverage their unique perspectives and experiences to thrive in their chosen field. Whether you're an aspiring entrepreneur or an established professional, Urban Income is here to inspire, educate, and empower you to take control of your financial future.