Vineyard Vines co-founder and co-CEO Ian Murray talks about the history of Vineyard Vines and shares his tips for growing your small business

Launched with a shoestring budget in 1998 by brothers Ian and Shep Murray, Vineyard Vines has grown into a multi-million dollar company, and the brand’s clothes, accessories and signature ties can be found in hundreds of stores throughout the country. Ian shares his tips for growing your small business. 

 Q: If Vineyard Vines were a small business and you had $500 left in your monthly budget, how would you spend it? A: I wouldn’t spend it. I’d save it for whatever unexpected opportunities were coming down the pike. Just because something is “in the budget” doesn’t mean you have to spend it. Nothing is more profitable than a business that exceeds their sales goals and spends less than their operating budget. 

Q: What’s the most important thing to consider when making the leap from small business to the big time? A: Culture. Culture. Culture. The principles on which any small organization has been founded should always remain up front and center throughout all stages of growth. 

Q: Think of your favorite local business in your current town or hometown. What makes it special to you? A: Familiarity—not just that I know the establishment well, but that they know me well, too. When I walk into my favorite deli for breakfast, they ask me how I’m doing, not what do I want. As businesses grow from small to mid-size, or even large, they can still interact with how their customer is doing rather than asking them whatdo you want? For me, it’s always been about creating an environment where the customerwants to buy—selling is much more difficult to do. 

Q: What’s the advantage that a small business has over a larger business? A: Nimble. When you are small you can react, change and innovate with extreme speed. I always equate our business to a boat. Starting out, we were a dinghy—easy to operate, you can dock it anywhere and it turns on a dime. As we take on more crew and passengers, we are more stable, but also much less nimble. The speed, agility and raw fun you can have on a dinghy can make any large ship captain jealous.