If you read the title, by now you think this post is absurd. Why would anyone spend that much money for clothes? How would it come to that much expense, and can you really gain financial profit with spending that much money on material things? These questions could be lingering in your mind. Let us tell you, you’re not alone. We also had rambling questions in our own baffled minds — but it isn’t absurdity, it is true. In fact, the story came from real life experiences of the entrepreneurial genius, Neil Patel.
Neil Patel is an addict – a shopping addict. As you would expect from the entrepreneurial genius, Neil didn’t do it for no reason. He has all the right reasons of a brilliant businessman why he spends thousands of cash for clothes. Neil decided to start dressing better when he noticed that it has a significant beneficial impact to his consulting business. He learned that wearing fancy, luxurious ties and coats resulted in his sturdy fortress of trust and credibility among his clients. The moment he chose to dress decently, he acquired larger business deals.
However, it is truly possible to spend $162,301.42 on clothes?
The answer is yes, and here’s how.
You may want to opt for formal, yet stylish corporate look to appear like a pro. According to Neil, he mainly shops at stores like Tom Ford, Dolce and Gabbana, and Burberry. Go for a conservative look, nothing crazy or too quirky. So, here’s why you will end up buying a $162-worth of clothes: suits, jackets, tuxedos, and briefcases don’t come cheap. These things have price tags that are more than a 1000 bucks. Yes, these things exist and people buy them.
Tuxedos and suits can range from $2,000 to $7,000. Briefcases can cost you a minimum of $3,000, and extravagant pair of shoes can be at $1,790 and up to $5,500. Belts, ties and tie clips will also cost you so cash, as well as under shirts or white dress shirts that could be around $750.
Of course, you can’t expect to be in retail stores only once. You will probably go to these shops to buy more clothes because you wouldn’t want to same the attires over and over, especially if you meet with the same clients.
Now that you have learned how would a sane person can spend a glorious amount of dollars on buying clothes, the next thing to will understand is how it would benefit your business. That comes next.
Dressing nicely and getting more money: the link between
Let’s begin by accepting the fact that people believe what they see. People judge you based on how you look – negatively or positively. Apparently, just by doing some tweaks on how you dress, people can also change the way they think about you. This also means that when you look successful, people think that you are successful.
According to Neil, he wears any of his fancy suits or tuxedos whenever he goes out of the house. He began receiving compliments from people he met in the streets when he decided to dress decently. Many of these people ask him what he does for a living. Neil really began gathering attention simply by changing the way he dresses.
Neil Patel has a consulting business. He noticed an improvement with the number of his closed deals the time he began wearing decent clothes. His change of outfit choice benefitted his business meetings the most. He learned, wearing nice clothes is more than just receiving compliments — it’s about success.
Over the years, he had countless business meetings, but he only gets to close 1 out 4 deals in the past. The main reason why he failed in closing deals is because his clients think that he quote absurd amounts of price for his service. Neil closely monitors all his meetings, and keeps it in organized excel sheets complete with all the important details like, closing ratios, average pitch price, company name, people within the meetings, their job titles. Thus, he is sure of the improvements that took place.
The time he began dressing nicely, he noticed his number of closed deals grew significantly. It’s because his clients assume he is a successful person. Thus, they want to work with him, and become associated with him to be successful as well. There was a noticeable change in trust between Neil and the people he deals with because people thought Neil is reliable.
From 25%, his closing ratio increased to about 40%. It means in every 10 meetings, the number of his successfully closed deals became 4. It is a huge leap forward for Neil. These numbers led him to having an extra $692,500 in revenue. The most staggering part of the story is he didn’t change anything in his business strategies. He didn’t bother to create a new pitch, or quote a new price, or shift to a different niche. The only thing did change is the way he dresses.
Clothes and Building Relationships
How you dress can be a connection or a great ice-breaker between potential friends or new clients. When Neil was once in Dolce and Gabbana in Beverly Hills, a few basketball players came in.
At first, he didn’t know who those people were. But just like what he typically gets while walking the streets, a few of these people told him he got ‘swag’. Though unfamiliar with the term, Neil took it as a flattery.
One of them asked him what he does for a living. So he threw his usual spiel about the things he does on the internet. They exchanged talks, and the person said something about himself as well. Apparently, he is a financial manager of many popular sports players. This guy is a money guru who teaches professional players how to handle their finances.
Neil caught the attention of this financial manager because of how he looks. Because the guy is interested with what Neil does, he took his number and gave him his corporate code for any Starwood Hotel. Neil spends most of his time travelling (around 200 days on the road a year to be precise), so this freebie can help him save a bunch of cash.
Neil also talked with the other basketball players about this hoodie being sold at the store worth $2000. They asked them what he thinks of the ridiculously expensive hoodie. He said he thinks it is wonderful that he already bought it himself. He said he wears it with basketball shorts when runs. They all thought he’s crazy. Well, maybe he is.
In return of all these talks, he got to extend his network. Neil made friends and new relationships. He received free NBA ALL Star tickets worth around $4,000, a few free courtside tickets to some Miami Heat games, and a few new business opportunities from these people he met because of his clothes.
Are you going to change the way you dress?
Neil didn’t do the experiment by himself. He actually did it with his friend, Mike Kamo. Mike was in the field of car dealership, and like Neil, he experienced marvelous changes in his life when he started dressing decently. In tech events that he attended in the past, people started approaching Mike the time he did a closet makeover. He closed huge deals, and expanded his business network. People hired Mike to help them build their sales teams and fine-tune the process. Mike didn’t experience this before when he was approaching people at events in a t-shirt and jeans. The reason is the same with Neil – people thought Mike wasn’t successful. Thus, building trust and credibility were a struggle.
Mike and Neil experienced huge shifts in their lives simply by choosing decent clothes. A simple step that granted them glorious achievements. Now, the question is: are you going to change the way you dress, too?
Though you wouldn’t have to go to the extremes like Neil Patel did, you, too, can begin wearing nice clothes while spending an acceptable amount of money. You can dress well without having to let go $100k for clothes.
There are several shops that sell good stuff with an exceptional fit. How your dress fits you is the most important factor to consider when choosing clothes. Stores like Zara or H&M sells nice yet cheap clothes. These shops can be your go-to place if you want to look better. If the clothes you buy still don’t fit well, you can always pay a tailor to adjust the fit.
The sad yet true lesson of the story is that people judge people based on the material things they see. Judgment is easy with the way we dress, or the things we possess. If judgment is a crucial part of your life or your business, it’s just wise to subtly direct people of how they think of you with what you buy with your money. Dress in fancy clothes, look good, and they can quickly change their perception of you. Besides, if you look good and you feel good about yourself, the cash spent would be worth it as well.