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Today the foundation has helped thousands of female entrepreneurs and has recently announced its first-ever Embrace Ambition Summit coming up April 24, which is a free event bringing together male and female leaders on the theme of “Confronting Stereotypes and Creating New Norms.”

When it comes to business for purpose, Burch said it is essential.

“I think actually every business has to think about purpose or else it's not going to be relevant.... And I'm not saying to do that from the beginning, but I think it should be part of the thought process and do it in a way that's authentic and what means something to you.”

As for the investor who told Burch not to mix business and social responsibility, he recently changed his mind.

“I called him this December actually and I said … 'You know I remember our conversation so well and I just came from a conference … saying that doing good is good for business and I just want you to know that this is 14 years old. We've been talking about women's issues for 14 years.' And he sent a very large check to our foundation.”

Hear more of Tory Burch’s interview on the \"No Limits With Rebecca Jarvis” podcast available on Apple Podcasts, Stitcher, Google Play Music, Spotify, TuneIn and the ABC News app.

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