When you dress nicer, you seem to be getting larger business deals. Mainly, it’s because people assume that you’re well off based on how well you dress. Decent dress up builds trust and credibility.
As I don’t do much consulting anymore, I thought it would be a fun experiment to take the wardrobe to the extreme and see what spending six figures on clothes would do for my business.
Before I get into what I learned, keep in mind that you too can achieve similar results without spending this much money. I’ll show you how towards the end of the post.
So, let’s get started…
How do you spend $162,301 on clothes?
That’s a good question. And to be honest, I never thought clothes cost that much either.
Suits like the ones below range from $2,000 to $7,000 a pop…
Briefcases like the one below start at $3,000…
Shoes like the ones below start at a $1,790 and can go up to $5,500.
And it doesn’t stop there. Add the accessories from belts to ties to tie clips… it all adds up.
Even white dress shirts end up costing around $750.
Now that you understand how one can spend that much on clothes, let’s dive into how it can help you generate more income.
How fancy clothes can make you more money
People believe what they see. If people think you look successful, in their eyes you are successful.
It sucks because you would have rather spent the $162,301 on a charity than clothes, but you need to grow your business as it will make me more money in the long run. This will allow you to donate more money to charity.
Nonetheless, you might have a closet full of nice clothes that you wear whenever you leave the house. You will receive compliments from random strangers almost every time you walk out of the door. And some of those people will ask you what you do for work.
Sadly, none of those conversations will turn into business deals because let’s face it… the average person you meet on the street typically can’t write you a six-figure check. Most people don’t own a business, and most people aren’t high power executives in the corporate world.
Where having nice clothes really helps is in business meetings. When you will start to dress extremely nice, the people in these meetings will feel you be extremely successful. For that reason, they will want to be associated with you, and it will help to increase your closing ratio from 25% to roughly 40%. That means out of every 10 meetings, 4 results in the companies will start signing up with you.
The difference is huge! It is so huge that financially it will bring in an extra $692,500 in revenue.
How clothes can help build relationships
Clothes don’t have to be expensive. The most important part about fashion is how well the clothes fit you. And if they don’t fit very well, you can pay a tailor to help adjust the fit.
The sad reality is that people judge us on how well we do based on things they can see. Clothes being one of those things. Cars are also one of those things people judge us by.
So, are you going to start dressing differently?