Let $V = \mathbb{R}^{d}$. Then we say a linear map $T: V \to V$ is Lipschitz if there exists a constant $K < \infty$ such that $\| T(v) \| / \| v \| \leq K$ for $\| v \| \neq 0$. Further, if the unit sphere is compact (as it is in finite dimensions), then $K = \max_{\| v \| = 1} \| T(v) \|$. Moreover, we say $T$ is a self-similarity if we replace the inequality with a strict equality, and examples of $T$ which are one and not the other are plentiful (e.g. if $T$ is not injective and not identically zero).
Now suppose $T$ is a linear, injective, contractive, non-self-similar map in the norm $\| \cdot \|$. What interests me is, might there exist another norm $\| \cdot \|_{1}$ in which $T$ is a self-similarity, i.e. such that there exists $K_{1}$ for which $\| T(v) \|_{1} / \| v \|_{1} = K_{1}$ identically for non-zero $v \in V$? What can we say about our possible choices of $K_{1}$? Do we know if $\| \cdot \|_{1}$ can be induced by an inner product? How well can we express $\| \cdot \|_{1}$?
As for work I've done, I tried it on $\mathbb{R}^{2}$, and tried assuming it could be induced by inner product (as otherwise I'm not sure how I'd write it out), but I ended up with several-variable polynomials I had no clue how to start on.
Thanks!
I find your question hard to understand.
Anyway, I suppose that you actually intended to ask the following question:
If this is indeed your question, the answer is no. It can be shown that in general, $T$ is self-similar with respect to some norm if and only if the matrix of $T$ is $cP^{-1}QP$ for some real scalar $c$, real invertible matrix $P$ and real orthogonal matrix $Q$. But to answer your question, it suffices to give an example of $T$ that is never self-similar, regardless of the norm.
Consider the linear map $T$ whose matrix with respect to the standard basis of $\mathbb R^n$ is $\pmatrix{1&1\\ 0&1}$. If $T$ is "self-similar" with respect to some norm $\|\cdot\|$, then with $e_1=(1,0)^\top$, we have $Te_1=e_1$ and hence $\|T\|=\frac{\|Te_1\|}{\|e_1\|}=1$. But then we would have $\|Tv\|=\|T\|\|v\|=\|v\|$ and in turn $\|T^kv\|=\|v\|$ for every vector $v$ and every positive integer $k$. In particular, when $v=e_2=(0,1)^\top$, we get $\|(k,1)^\top\|=\|T^ke_2\|=\|e_2\|$. Hence $S=\{(k,1)^\top:\ k\in\mathbb N\}$ is bounded with respect to $\|\cdot\|$. Yet this is impossible, as all norms on $\mathbb R^n$ are equivalent and $S$ is unbounded with respect to the Euclidean norm.