One of the biggest challenges young entrepreneurs face when trying to keep ahead of fierce competition is always having fresh ideas to bring to the table. Chris Burch, a billionaire who’s also an angel investor and owns Burch Creative Capital has a tip on how to keep thinking of new ideas even while you’re on the clock trying to get your regular work done. Burch says you need to be ready just in case you suddenly get an idea in your head that you need to capture. You capture the idea by writing it down on paper as it comes to you. Burch also suggests sometimes having short brainstorming sessions with coworkers where everyone can share ideas as they come up. But he doesn’t believe you ever have to sacrifice task completion time for creativity time.
Chris Burch not only invests in startup phase companies and new brand names; he also owns several high value homes and has ownership stakes in hotel properties around the world. He was born to a middle class Pennsylvania family and attended college at Ithaca College. While he was still studying there, he started his own company which was originally a door-to-door sweater sales hobby, but he picked up customers all over New York and eventually the Northeast. The sweater sales grew into other product lines and the company became known as Eagle Eye Apparel. Burch owned Eagle Eye Apparel for about 20 years until he decided to sell it for $60 million (entrepreneur.com).
Chris Burch kept on investing in fashion and lifestyle brands even after selling Eagle Eye Apparel, and the next company he funded was his wife Tory Burch’s luxury fashion brand. He also later launched the C. Wonder retail company after founding Burch Creative Capital in 2008 (http://www.burchcreativecapital.com/). Other companies that are previous or current members of Burch’s portfolio include Poppin, Actua, Pypestream, Jack Rogers, Voss Water and Powermat. Burch first went into real estate when Argentinian tycoon Alan Faena made known his plans to have a new 5-star hotel built in Buenos Aires. Along with that hotel, Chris Burch also bought a Miami condo from Faena’s property group. He flipped a $14 million home in Southampton, NY back in 2005 for $25 million, but then his most significant redevelopment investment is Nihiwatu Resort on the remote Sumba Island in Indonesia. This resort topped a long list in Travel & Leisure magazine’s best vacation properties, read more on wingsjournal.com..