An exclusive interview with serial entrepreneur Peter J. Burns III

Peter J. Burns III is an experienced entrepreneur whose prolific career has spanned four decades, during which he has founded or helped found over 200 companies.

A native of New Canaan, Connecticut, Burns comes from an estab­lished New England family and brings a wealth of experience and a forward-thinking approach to entre­pre­neurship. He began his entre­pre­neurial journey while studying at the University of Virginia’s McIntire School of Commerce, where a class project led him to success­fully start a moped rental company, fueling his never-ending pursuit of innov­ative business ventures.

Based in Del Mar, California, Peter J. Burns III has a remarkable track record of creating and supporting businesses, ranging from financing solutions such as Burns Funding to initia­tives such as Millennial Queen­maker, which empower young women to become successful entre­pre­neurs. His commitment to education and mentoring is evident in his work estab­lishing the nation’s first College of Entre­pre­neurship at Grand Canyon University. Burns has been recog­nized for his contri­bu­tions to the business world and was named Entre­preneur of the Year in 2007 by the Arizona chapter of the Future Business Leaders of America. His ventures reflect not only his business acumen, but also his commitment to making a positive impact on society.

What inspired the creation of Millennial Queenmaker?

Millennial Queen­maker was inspired by my desire to empower the next gener­ation of female entre­pre­neurs. Having two daughters and four grand­daughters, I have witnessed firsthand the unique challenges and oppor­tu­nities women face in business. The goal is to give these ambitious young women the tools and mentorship they need to succeed on their own terms.

How do you assess the feasibility of a new business idea?

I look for three key elements: a clear value propo­sition, a definable target market and a scalable business model. If an idea can convinc­ingly meet these criteria, it has a solid foundation. The next step is to assess the compet­itive landscape and the team’s ability to implement the concept.

In your experience, what is the biggest challenge facing entrepreneurs today?

I think the biggest challenge is infor­mation overload. There’s so much noise out there — endless data, advice and strategies — that it can be overwhelming for entre­pre­neurs to filter out what’s relevant to their specific situation. Learning to prior­itize infor­mation and action is critical.

Can you give an example of a particularly innovative project you recently worked on?

One of the most exciting projects I have been involved in is devel­oping a new approach to sustainable tourism through eco-friendly accom­mo­dation and practices. This not only helps protect the environment, but also taps into the growing market of environ­men­tally conscious travelers.

What strategies do you use to stay ahead in rapidly changing industries?

Constant learning is my strategy. I delve into the latest research, trends and technologies. To stay at the forefront, networking with other thought leaders and attending industry confer­ences are also crucial. This proactive approach helps me antic­ipate change rather than react to it.

What role has mentoring played in your career, both as a mentor and as a mentee?

Mentoring was a two-way street for me. Early in my career, the guidance of experi­enced entre­pre­neurs helped me navigate the complex­ities of starting and growing businesses. Now, as a mentor, I strive to provide the same insights and support to the next gener­ation. The exchange of ideas and experi­ences enriches everyone involved.

How do you approach risk management in your business ventures?

My approach to risk management includes thorough due diligence and scenario planning. I evaluate the potential risks and oppor­tu­nities of each venture and prepare strategies for different outcomes. Effective risk management is about making informed decisions, not just avoiding risks.

What is the most rewarding aspect of your work?

What’s most rewarding is seeing the tangible results of my efforts — whether it’s a startup thriving thanks to our funding or a young female entre­preneur making a name for herself in the business world. Knowing that I contributed to their success is incredibly fulfilling.

How do you balance innovation and feasibility in new projects?

The key is to balance innovation and feasi­bility. I encourage creative thinking and pushing bound­aries, but every innov­ative idea must be based on practi­cality. We carry out market tests and feasi­bility studies to ensure that our innova­tions can be imple­mented effec­tively and are ready for the market.

Looking ahead, what trends do you think will dominate the entrepreneurial landscape in the next decade?

I believe we will see a rise in companies that are heavily integrated with technology, partic­u­larly artificial intel­li­gence and machine learning. Sustain­ability will also be an important focus as more consumers and businesses prior­itize environ­mental impact. Entre­pre­neurs who can innovate while contributing to a sustainable future are partic­u­larly well positioned for success.