INSTANT MBA: Design Your Company Around Your Needs

"When I started my company, many people said I shouldn't launch it as a retail concept because it was too big a risk. They told me to launch as a wholesaler to test the waters — because that was the traditional way. But Glen Senk, the CEO of Urban Outfitters and a mentor of mine who now sits on our board, told me to follow my instincts and take the risk."

Burch says that all entrepreneurs should take control of their business and translate their vision for the company into the project, despite the risks. Sometimes your unconventional idea can be the next big thing, and it pays off to put it to practice despite the warning signs your friends and colleagues might be giving you. Burch advises to trust your instincts. Most importantly, transform your vision for the company into a successful marketing strategy.

"I wanted to create a new way of looking at retail. At the time a lot of stores were very minimalist, very clean. I wanted stores that would feel like a comfortable room in my apartment, cozy and colorful and different. I learned the importance of having a complete vision for the company, from product to marketing to store visuals. My company is an extension of me, so when I designed my stores I wanted people to feel that they were in my home. It was also something that came out of my trying to design things that I wanted myself ... It gave people an idea of who we were, and it was great for quicker branding."

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