Some of Fox's go-to advice includes "don't overthink" and "keep showing up"

NEED TO KNOW

• Julia Fox shared advice for the younger generation of fashionistas and revealed the key to finding your personal style in an exclusive interview with PEOPLE
• Some of her go-to advice includes “don’t overthink” and “keep showing up”
• Fox recently received the Betsey Johnson Iconoclast Award at the Accessories Council ACE Awards

Julia Fox is encouraging young fashionistas to trust their "first instinct."

Fox, 36, joined Betsey Johnson on the red carpet at the Accessories Council ACE Awards at the Pierre Hotel in New York City on May 5.

She and the fashion designer spoke exclusively with PEOPLE about the advice they would give to younger people trying to find their place in the fashion world — or just trying to find their sense of style in general.

"Don't overthink. Just don't overthink," Fox, wearing a Spring 2008 yellow archival Betsey Johnson dress, said. "Your first instinct is always the right one. Go with your gut. Don't worry so much about what other people think or if other people are gonna like it. If you like it, other people will like it. And that's how trends are formed."

Johnson, 83, added, "That's absolutely it for me. I never asked anybody about what I was doing. If I liked it, I thought, I pray there are other girls that are gonna like it."

"And you've got to work your ass off. Work hard. You gotta work really hard," she continued.

"Keep showing up, you know? Put yourself out there, whatever, however that may look like," Fox then said.

She continued, "If it's social media, make the video. It's cheesy? It's a little cringe? Who cares? Anyone who's gonna talk bad about you is just jealous that they don't have the same courage that you do."

At the event, Johnson presented Fox with the Betsey Johnson Iconoclast Award. “I'm sorry I can't do any cartwheels or splits,” the Uncut Gems star remarked before accepting the honor, poking fun at Johnson's acrobatic abilities throughout the evening.

“Okay, but let's be serious. Thank you so much, Betsey. It's an honor to be in the same room with you, let alone to receive an award from you, and I really mean that,” Fox continued.

During Fox's acceptance speech, she also recalled how she used to shop at Johnson's store on Madison Avenue and "shoplift."

She joked that it was because "the clothes were that good."

The other honorees at the Accessories Council ACE Awards included Tamron Hall, Sara Blakely, Monica Rich Kosann, Nata Dvir, Blake Mycoskie and Todd Kahn, among others.

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“Thirty years is traditionally known as ‘the Pearl anniversary' and as we know, pearls are formed, layer-by-layer, over time, and it is a joy to look back on the layers of history the Council has with so many of you,” Karen Gilberson, President and CEO, the Accessories Council, said.

“For an event — and frankly, an organization — to thrive for three decades is no small feat. It speaks to resilience, evolution, and a relentless commitment to serve an industry we all love deeply," she added.

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