Choosing the right business partner is as difficult a art as baking that perfect cake that quells your hunger as well as appears beautiful on the outside.

Today we bring for you the much known face of the fashion industry- Tory Burch's entreprenuerial wisdom.

This self made multi-billionaire designer is known for her signature Preppy-bono-bohemian fashion style. Starting out as copywriter at Polo Ralp Lauren and tutoring under Vera Wang, her label - "TRB" has more than 83 apparel stores worldwide. Added to this she is a popular face in the social circles and a noted philanthropist.

Why did we need to know all this?

The answer is that she is not just any lay woman entreprenuer but was the owner of a multi-million business name. Post her seperation with husband J. Christopher Burch the fortunes of the company hit a rough patch for some time. That's when concerns and lessons of life began.

In a exclusive interview with CNN Fortune, Burch shares her thoughts. With the laurel of being America's second most powerful self-made billionaire, the defining point of her success chart is that she comes with no formal MBA tags or fashion degree. In fact, Tory majored in art history from the University of Penn.

Following the settlement suit and fierce competition from her ex-investor husband, Tory was surrounded by investors and business upstarts to take a share of the $2.6 billion pie called her business. In 2009, she decided to sell a aprt of her stock to a Mexican equity firm - Tresalia Capital. By 2012, there were more investors up for grabs. The settlement dispute became quite famous for setting the benchmarks for future IPO cases.

She laments that "entrepreneurs give way too much of their company away, and way too soon". There are some important questions one should ask themselves before partnering with anyone.

1. Who do I partner with and how many investors do I want to bring into the company?

2. How much do I want to give away?

3. What are the best ways to know your business partner before closing the partnership deal ?

4. How well does does your new partner treat your people? Is your company culture and ethics being revamped totally?

Burch's strategy is straight and simple to avoid the kind of personal-professional mishap that she had to face. "Produce well thought-out growth through patience, long-term decision making and an eye for integrity...we don’t want to bring someone-in, in any way, who will change the culture that we’ve worked so hard to build."

Listen to this video for more insights and details.