You’ll find it easier to grow your firm if you appear to be wealthy. This will enable you to build relationships with successful entrepreneurs who will introduce you to key people and facilitate growth opportunities for you.
To join the inner circle of such successful people, you should become someone with whom they want to associate. So create an image that reflects success on your part.
But the trick is to appear rich without spending a lot of money. By being frugal, you’ll reach your goal of growing your net worth.
Furthermore, you’ll be more respected by wealthy people if they see you as a good money manager.
To appear rich while conserving your money, here are six recommendations:
1. Think like a minimalist about money
The wealthiest people I’ve known appreciate the look of success.
But they are unimpressed with people who aren’t thrifty and fail to manage money well.
They aren’t extravagant. They don’t own the newest television sets. Their don’t give showy toys to their children.
Almost to the point of hoarding, they keep and maintain what they have.
When the soles or heels of their shoes wear thin, they go to the shoe repair shop.
They live within their means and they associate with other successful people who are parsimonious.
2. Act as if …
You’ll never know where you will meet the right contacts – charitable events, industry conferences, shopping malls, or the gym.
When you meet your desired contact, be a great conversationalist – not by talking but asking open-ended questions to get the person to speak freely. Be genuinely complimentary of the person.
As the person is speaking, don’t interrupt, neither check your phone for texts nor look at your watch. Maintain a smile and good eye contact.
Keep the conversation friendly and light – do not criticize anything or anybody.
3. When in public, dress as becomingly as you can
Dress well but simply without spending a lot of money. Consider what the other people are likely to be wearing.
Keep your hair and nails business-appropriate. If your money is tight, look for cosmetology schools where you can get discounted services.
Shine your shoes regularly, keep your car clean and continually look for reasons to smile.
When in doubt, a blazer and slacks will suffice for men and women.
4. Buy quality
Successful people will think you’re disingenuous if you buy cheap knockoffs. Avoid the latest, flashy styles. Think traditional, an old-money look.
So only buy the best quality clothing and attire that you can afford. As your starts to move forward, develop your own style and remember in critical situations it’s better to be overly dressed rather than under-dressed.
If you buy new clothing – whether suits or casual clothing – look for mega sales. For men, a good place can be Joseph A. Bank at certain times of the year. The company constantly emails deals of the day.
For women, you can search for what you need at Marshall’s or outlet stores. (No, these aren’t paid endorsements.)
It’s not uncommon for up-and-comers to have to buy designer clothes at thrift stores in upscale neighborhoods in estate sales or used clothing online. That’s perfectly fine as long as the clothing fits well and is well-maintained.
5. Drive the look of success
When meeting with prospective clients, I’ve made it a point to enjoy my ride and I’d immediately get a report card. In other words, when I arrived the prospective client would just about decide on the spot whether to hire me.
Either they felt couldn’t afford me or they wanted to hire a consultant who looked successful.
You can look successful in a used car. Buy a quality, pre-owned or formerly leased car.
6. Stay current
Hopefully, you have a good education. But it isn’t critical for your success. Read, read, read.
Know which publications and Web sites are important in your sector.
For all-around good business reading, the most-authoritative is The Wall Street Journal. And be sure to stay current about your community, state and region of the country.
From the Coach’s Corner, here are related strategies:
What the Affluent Know about Achieving Financial Success — Two different experts who speak with authority about wealthy Americans – a business professor and a leading consulting firm – have offered advice for minorities who seek success in their careers.
7 Steps to Wealth and High Net Worth — Creating wealth and enjoying high net worth doesn’t result from pure luck. It takes a certain mindset and strong action. Here are seven proven steps.
Checklist to Build Self Confidence for Career Success — Everybody occasionally struggles with self confidence. But some people have continuing low self esteem. Their lack of confidence serves as a big obstacle.
Tips for Dining Etiquette with Your Boss or Anchor Client — Whatever the important business occasion, it’s helpful to hold your meeting away from the tense hustle and bustle of a corporate setting. The right ambience for deal making is often an opulent restaurant with sumptuous food. That’s been my preference.
Business Etiquette Dos and Don’ts – Sending Holiday Cards — One of the best investments for your business relationships is to send holiday cards. It’s an excellent way to stay in touch and to show gratitude in your business relationships. But you must do it right.
“Success is not final, failure is not fatal: it is the courage to continue that counts.”