Depending on what we want to project or create a brand for ourselves we should dress accordingly.
Say for someone working in a bank / consulting firm where their role is more client facing, it is advisable to follow the Business formal wear guidelines.
The basic idea is we should seperate our Personal – Social – Professional attire, a bit of overlapping or mixing clothes is all right but if we dress the same everywhere than we are not projecting the right appropriate image.
Your own Image has various nuances to it, being appropriate to where you are going is one of the important aspects of dressing up.
When you audit your closet , seperate your outfits / clothes in these broad sections ans than evaluate what you have and what us missing for you to create an appropriate image for yourself.
Keep in mind, its not just the clothes, its the whole look / style that you evaluate. Your accessories and jewllery should also resonate with what type of image you are projecting.