Whether you are the Chief Executive Officer (CEO) of a small company or a large corporation, than you almost certainly are going to need a nice car. Today’s marketplace is very competitive. It is simply hard to get, and retain clients in this day and age. That said, you want to make sure you are giving yourself every advantage possible when operating in the real world. Having the perception that you are successful is something that could go a really long way in regard to the formation of new business relationships. For example, if you are the CEO of a company and you drive a Ford Taurus people are going to think that you, and your company, are not that profitable. Never mind Sam Walton and Warren Buffet’s and their cheap car antics. In general, drive up in a high-end car and you will be viewed as someone that has made a good living working for a profitable company that does good work. It’s just human nature. (Read more on the truth about getting a company car)
As a CEO, your car is a status symbol. There are few like it, besides your clothes and your watch. Think about it like this: if you have a car that is less expensive than another CEO in your industry you will be viewed as less successful. The shame of the matter is that this may not be the case. If you choose to drive a Mitsubihi over a Mercedes Benz you certainly have that right. Just be aware that you will be perceived as less successful and you will not have as elite of a status. If the CEO is the person at the top of the company they cannot be viewed as a person that has a lower status than other people in the industry. When it comes time for a customer to choose between you and your competitor, they will tend pick the company with the perceived higher status. If you do not keep up with these other companies then there is a chance that you could be missing out on business because of the type of car that you drive.
A nice car will also show that you are educated as a CEO. Simply put, these high end vehicles give an indication that you have gone through different levels of schooling and earned your degree. While this is not always the case, the fact of the matter is that the perception is that you have a good education. Unfortunately, the opposite is also true if you are driving a car as a CEO that is not respectable. As a CEO, you always want your business to be thought of as the industry leader. In order to do this you need to let people see that you are an educated professional that you are also a leader in your selection of cars.
Finally, driving a nice car as a CEO shows that you are in charge. You want to let the people who work for you know that you are able to afford a high-end vehicle because you are good at what you do and that the company is operating profitably. They will look up to you as long as you show them that you are in charge and above them on the food chain. Having a nice vehicle is one way to do this as they will recognize you for what you are and aspire to be in your position someday.
It is really important for a CEO to drive a nice, fancy car. These cars will help you do more business because you will be viewed in good light, and many times that’s all that separate you from getting that new contract or not getting it.