Fashionomics 101: Maximize your ROI
Do you like to add to your wardrobe each season? Are you feeling overwhelmed and are not sure what to add? Or, conversely are you in the other camp (like me) and feel like you might not be able to control yourself? Either way, it could be just the time to assess your fashion capital and re-balance your fashion portfolio. Read on for some helpful instruction before you invest in additions to your wardrobe.
Capitalize on your assets. Take a long, hard look. What are your most valuable assets that make your look uniquely yours? What are you working with – fabulous curves, great legs, high cheekbones? Only when you know what your assets are, can you make sound purchases that naturally highlight them. Because assets change over time, be sure you’re focused on what’s working now rather than what’s worked in the past. You’ve evolved, so should your clothing.
Take stock. The truth is it’s not possible to put together great outfits if you are low on inventory. Just before the Fall and Spring fashion seasons hit, assess what you already own. Do your clothes fit and flatter you? Are they current and in good condition? Do they represent the best version of you and the image you’d like to project? If there’s inventory in your closet that’s not working for you, it’s time to write them off and then re-stock. Remember, it’s a three step process… inventory, edit, and shop. Invest the time just twice a year and enjoy the dividends all year long.
Minimize your liabilities. First know that you’re not alone…we all have liabilities that seem to stay with us for longer than they should. Here is sampling of some my clients have shared over the years:
- Shopping to fill an emotional void (“retail therapy”) rather than shopping for items that are needed
- Not shopping because there are too many choices and it seems overwhelming.
- Inaccurate or out-of-date self-image
- Getting all fashion advice from an opinionated friend or family member rather than building their own personal style
- Buying based on price rather than need
- Investing in high-end items without a wardrobe plan
Whatever your fashion liabilities, make friends with them and make a plan! Get out your clothing rut by breaking out of habits that aren’t serving your best interests.
Diversify your fashion portfolio. Smart investors have a diversified portfolio. Similarly, savvy dressers have clothes for every aspect of their life…they aren’t just invested in one area of their life (i.e. work clothes). A diverse fashion portfolio includes outfits for dressy parties, informal social gatherings, work clothes, weekend clothes, exercise wear, travel, etc. Do you have enough and the right clothing for all of the different situations you find yourself in? Think about how you spend your time then add to your wardrobe accordingly.
Accrue interest. Your fashion choices tell the story of who you are or aspire to be. You should be getting results from the time and money that you are investing into your wardrobe. Those results might include compliments from others, more confidence, and an overall feeling of well-being. They might also result in a job offer, a promotion, a date…Now, that’s the kind of accrued interest you’re looking for, so go ahead and put your style to work!
Need assistance? I’m here to help you get the most out of your fashion investment. Just email me at email@example.com. Mention the 3T’s and save 10%!