Increase Credibility and Client Confidence by Investing in Your Business Wardrobe ____________ by Susan K. AbramsYour prospects, clients and global community relate better to self-confident executives who use their image as a powerful marketing tool. In this corporate climate of a “Crisis of Trust”, use every advantage to ensure credibility and client confidence. Does it say “Credible, Confident and Successful?” The message you send by the way you dress, speak and behave communicates professionalism or the lack there of.
You need to build your investment plan with your personal finances and your professional industry in mind. This means take in consideration your current budgetary situation and the culture of your industry. For the professional, research suggest that your waking hours during the week are somewhat spent like this:
13% Preparing meals, eating
25% Leisure (sports, hobbies etc.)
62% Working and travel
The bulk of your investment should go towards your professional wardrobe. Budget to invest per year at least four weeks’ take home salary on these clothes and one weeks’ salary on your casual clothes. It just makes sense that you invest a higher percentage on the clothing that you spend the most time in.
Investment Formula
Women: Business Wardrobe
Take one month’s net salary and that equals your Annual Business Wardrobe Investment [ABWI]
One Month's Net Salary = ABWI
Casual Wardrobe:
Take your monthly net salary and multiply by 25% and that equals your Annual Casual Wardrobe Investment.
Monthly Net Salary X 25% = ACWI
Men: Business Wardrobe
Take your monthly net salary divided by 4 and multiply by 3, and that equals your Annual Business Wardrobe Investment.
The women’s formula for the Annual Casual Wardrobe investment is the same for men.
Men typically invest higher dollar amounts on suits and women prefer more variety. Women invest in more options, e.g., suits, dresses, separates and accessories (scarves, jewelry, purses and shoes). This is why we allocate more investment dollars for women.
Another way to determine investment buying is by the Cost per Wearing formula:
$400.00 suit – worn every 2 weeks
26 wearings per year
A good suit will last at least 3 years
26 X 3 = 78 wearings
$400 divided by 78 = $5.12 per wearing
(Cost does not include dry cleaning and repairs.)
Compared with
$175.00 cocktail dress – worn maybe 4 times a year. (You know you’ll buy a new one next year.)
$175.00 divide by 4 = $43.75 per wearing
(Cost does not include dry cleaning and repairs.)
Investing in your professional wardrobe saves you money in the end. Remember always buy the best quality you can afford and your investment will be sound.
(Research provided by Image Resource Group.)
[Copyright (c) 2002 Corporate Icon. All rights reserved. Requests for reprint are welcomed. Author acknowledgement (Susan Abrams) and contact information must accompany articles.
