If you have a happy team, you'll have better results. Or at least, your team will be happier to stick with you.
Expanding your HQ gives you access to a bunch of new assets and things to invest in, like an engine sponsorship slot, or hospitality services for your staff.
In addition to that, engineers will benefit from design centres, and crash courses where they can test new parts and durability for vehicles. Expansion can be expensive, but is worthwhile.
Speaking of being worthwhile, upgrading your vehicles is never a bad idea. You can invest cash in new spoilers, engines, seats, tyres and more.
Of course these are going to alter the stats of the cars in ways you can probably imagine. Spoilers will alter the grip for many vehicles, and engines will of course effect overall power.
Manufacture and research new parts whenever you can, as it will make a big difference in the long run.
This speaks for itself really, doesn't it? No point in having the best car parts possible if you don't have drivers capable of bringing home results.
You need to take note of your driver's current potential, and their max potential. Their maximum will be the the stars under their portrait, and their current potential will be the stars which are filled in.
Three stars is pretty decent, but anything below that will be getting disappointing results. You can of course go for a driver with high potential, but if their current ability isn't very good, you'll have to deal with disappointments for a while before you get enough points to level them up.
Try your luck
When performing the qualifying laps for any of your races, you'll be faced with a few choices - tweaks that can be made to your vehicle, at a cost. That cost can range from 0, to much, much more.
You'll see at the bottom of the screen that you have limited wrenches, these are what will be deducted, depending on the cost of each tweak. If something costs more wrenches than you have, then things go wrong and you won't get good results.
Basically, try not to take too many risks. If something could potentially cost more wrenches than you have, leave it, pick from things that you are guaranteed to afford, and you might get lucky with multiple 0 cost tweaks.
So many sponsors
Do you think those race cars are plastered with logos are stickers for fun? Not so, as racing is serious business, as you'll discover as a manager.
There will be multiple sponsors to choose from, but some will be more worthwhile than others, depending on your position. Signing big names will give you influence, which you can spend on multiple things, but other companies might offer more money.
You should also keep in mind the kind of placings that sponsors expect from you in order to pay up bonuses. Can your drivers achieve those placings, or are you being too ambitious?