But actually, he was wrong. Years later, when I was starting a consulting practice, getting a new car - at a time when I had no income whatsoever - turned out to be one of the smartest moves I ever made. And perhaps one of the smartest moves YOU could make too. Allow me to explain.
Here's the backstory. In 1996, after a pretty good first year as a consultant, everything came to a very hard stop. All of my projects and clients ground to a halt at nearly the same time, and my income with it. From there, I couldn't get myself arrested. Three months later, adding insult to injury, my wheezy old car with six figures on the odometer needed major repairs.
With my tail between my legs, I went to my local dealer to try and trade for a passable used car while I got back on my feet again. Instead, the salesperson wheeled out one of the most gorgeous vehicles I'd ever seen - a brand-new, full size car with metallic paint, a sunroof, and a premium stereo system. And explained how leasing it for two years would only put a small amount of my assets at risk.
His numbers actually made sense. I could essentially "borrow" this beautiful car for two years for a modest cost, and then turn it back in if I still wasn't successful. I will never forget the feeling of having had no income in three months, no idea when I would ever work again, and driving off the lot in the nicest car I had ever owned.
Here is why it actually made good financial sense. Every time I got behind the wheel of this beautiful car, I FELT like a successful person. And ACTED like a successful person. Which made a real, tangible difference as I started knocking on doors, lining up gigs and clients, and planning my future. Soon I was back in business again, and I proudly paid that car off early and kept it for seven years.
Think about it. If you are trying to make an impression on others - for business or personal reasons - what would give you your best chance of succeeding: feeling hot, sweaty, and dirty, or feeling freshly showered and clean in a nice suit? Either feeling transmits itself to other people, and the same thing is true for the rest of your self-image. And what they perceive, in turn, ultimately governs your success.
I am not suggesting that you start taking stupid risks with your life, or your cash flow. But I do want you to rethink the hair-shirt view that self-denial is a necessity for success. What works for those types frankly wouldn't have worked for me - and I feel strongly that you should do whatever will make YOU most successful.
Nearly two decades later, I still drive around in a nice car, because I firmly believe that how you FEEL and how you ACT are major determinants of success. (My current ride is pictured above.) So whatever it takes to make you feel awesome - and then share that awesomeness with the world - seriously consider it as part of your life plan. Invest in yourself and your self-image, and I believe the rewards will often come back to you many times over.
