Spins over and try to crank but does not

I'm turning the car in to a race car i got the car from a scrap yard. it didn't have a key so I got a steering column out of or that has a key and I put it in the car and security light is on. if i try cranking it it will act like it wants to run but goes shuts off. since it's going to be a race car is there anyway to by-pass the buck so it will run. what is your opinion? thanks