He’s the new president of Sigma Nu fraternity, he’s interning with one of America’s most successful businessmen, and he recently started his own business. And he’s only 22 years old. Meet one of Appalachian’s hardest working students, Mitch Purgason.
Name: Mitch Purgason IIYear: 2015Major/Minor(s): Business-Entrepreneurship, Minoring in Communications and Finance
You recently started your own business. Tell us a little bit about what your business is all about and how you thought of the idea:
The startup I am currently involved with is called Corner Tailors. To put it simply, we are an online e-commerce business that sells custom tailored suits at an affordable price without sacrificing quality. High quality suits have good fit, fabric and finish. Our goal is to provide all of these things specifically tailored to each customer’s preferences without putting a huge dent in their bank accounts. Our suits are half the price of what you would get at Brooks Brothers for the same quality and enhanced customization.
Do you have a mentor or role model you look up to as inspiration in the business world?
One of my biggest inspirations in the business world is Mark Cuban, whom I have had the privilege of interning for since last semester. It all started with me sending him an email to which he responded a couple of days later. He gave me a chance to prove myself and by the end of the summer I was drinking champagne on Wall Street with Steve Nash and Dirk Nowitzki in perhaps one of the most surreal moments I will ever experience. I don’t tell that story to sound arrogant, I tell it to show that you never know what might happen if you just try, and to show how cool Cuban is for giving a random kid like me the chance of a lifetime.
The reason why Cuban has been so successful is because he understands the difference between working hard and thinking that he works hard. He is constantly trying to learn new things, and he tells people what they need to hear not what they want to hear, which I don’t think there is enough of in today’s society.
How do you balance your studies, social life, and business?
My girl Siri helps me out a lot. I talk to her every Sunday night and try to plan my upcoming week by the hour. Sometimes things go awry because my schedule is pretty hectic or I may go eat Chipotle but I try to make ample time for all three of these things because they are all important.
What demographic are you targeting?
Our end goal is to appeal to all demographics but right now we are targeting first time suit buyers and young business professionals.
How did you get the idea to start Corner Tailors?
Our CEO, Merrick Marquie, came up with the idea in a venture creation class we have together and decided he wanted to make it into a reality. I love fashion and the confidence a good looking suit can give someone, so as soon as I heard the concept and model, I wanted in.
Where do you see yourself in five years?:
I see myself still involved with Corner Tailors while pursuing a couple of other startup ideas I have discussed with friends and family. I hope to see myself financially stable enough to spoil my parents, who have sacrificed so much for me, and stable enough so I can help those who have been brought up in less fortunate situations than myself. Both of my parents were missionaries who did relief work all over the world and I would love to be able to afford to travel and do similar work, because at the end of the day all people remember about you is how you made them feel, not how much money you made.
What advice would you give to your fellow peers who aspire to start their own business?:
1. You never know the answer to something until you try.
2. Hard work is the most valuable equity there is. Know your business and industry better than anyone else in the world.
3. Love what you do or don’t do it.