I want to thank all of you who have followed and read The William Wilson Perspective. I have been led to go a different direction with The Perspective. I’m often asked to help people with their gift ideas, businesses, and branding strategies. I am in the process of writing a common sense book on building your business, and working with high net worth people (yes there is a difference). I wish I could help everyone, but I can’t. I think the best way for me to help is through my blog. Therefore, I will be using The Perspective to assist you with the questions I most often asked. I will also be focusing on high-end products. I work with high net worth gentlemen with very demanding, yet affluent lifestyles. I have to be abreast of the items that are important to them, as well as the intricacies of running a successful business that caters to a client base that expects the best of everything.
The First Lesson: Have a Business Model That Fits Your Client’s Needs
My business model isn’t complicated, it’s extremely focused. It’s focused solely on exclusivity and service, not volume. You see I target a very deliberate and concentrated client pool. My clients are successful, and often high profile gentlemen that not only want the best, they can afford it. They live their lives in such a manner that everything is about quality, image, and branding; not price. Don’t get me wrong, they don’t want to be taken for a sucker, but they understand price versus value. If you don’t understand that’s okay, most people don’t. There will be a blog post coming about that.
Anyway, my business model is about exclusivity. Many companies claim to offer exclusive products, but they really don’t. They offer expensive products. A product is not exclusive, just because it’s expensive. Sometimes it’s just overpriced. A product is not exclusive if it is mass produced, and sold to anyone willing to write the check. Expensive only implies exclusivity, it doesn’t guarantee it. It’s like when you go to an event, and they have a “VIP” area, but the ticket price is only $15-$30 dollars more. That’s NOT VIP! That’s a corner of a room marked off with a velvet rope. True VIP comes with perks, and unique access. At a Bobcats game you can get a great lower level seat for $60. But to get VIP treatment, you are going to pay $200 and up. You see the same game, but you get preferred parking, wait service, and private restaurants not available to everyone.
My Business Model
I am one of the most exclusive clothiers in the world. As a private clothier, I am not open to the public, and I only accept 3 new clients a month. I am available to my clients 24 hours a day. I often meet my entertainment industry clients after midnight, because they are in the studio recording. To become my client, you must either be extended a personal invitation, or fill out an application for client consideration. Private client membership is limited to 200 (only 115 available to Charlotte clients). Most people don’t have the option of being my client, because I decide whom I choose to do business with. Not because I’m better than anyone, but because my business model is designed to service a uniquely specific demographic. I don’t target my clients because they have excessive income. I target them because they appreciate and value my product. If I have already accepted my 3 clients for the month, I give them the option of a wait list. Some of you may feel this is bold or cocky. If you do, you are not my client. Nor do you understand the needs, and emotional triggers, of my clients, or understand the service I provide. I don’t just sell suits, I sell time. I sell access, and I sell bragging rights to my clients. My clients are not impressed by name brands. Armani, D&G, and Gucci mean nothing to them, because they are just over-priced off-the-rack suits. My clients wear custom clothing. All of their suits have THEIR OWN NAMES in them.
As a private clothier, I’m not just a clothier. I’m a lifestyle consultant. I consult my clients not only on suits, but on the things that come with their lifestyle. I am currently studying up on mega yachts. The summer is quickly approaching and they will be renting, leasing, and buying yachts. I need to know these things. I need to know about private jets, expensive watches, golf courses, and fine dining areas. These are normal parts of my clients world and I need to understand how they live.
I hope you will be able to use The Perspective to build, grow, restructure, or solidify your business. Those of you that know me, know that I am a straight forward person. My advice will be direct, focused, and at times painful. The truth hurts sometime. It’s not personal. It’s just business. Just know I’m doing this out of love, not malice.
God Bless and Dress Well,