Peter J. Burns III is a distinguished serial entrepreneur with over 40 years of experience in launching and supporting more than 200 businesses, profoundly impacting the entrepreneurial landscape. Based in Del Mar, California, Burns’ origins trace back to a well-established New England family in New Canaan, Connecticut. His entrepreneurial spirit was sparked during his education at the University of Virginia’s McIntire School of Commerce, leading him to launch a successful moped rental business that set the foundation for his future ventures.
Burns has demonstrated a keen ability to innovate across various sectors, including founding Burns Funding, a firm dedicated to providing unique funding solutions for entrepreneurs. He is also the founder of Millennial Queenmaker, a venture aimed at empowering young women to become successful entrepreneurs. His contributions to education include establishing the nation’s first College of Entrepreneurship at Grand Canyon University, alongside his teaching roles in Arizona. Honored as the Businessperson of the Year by the Arizona chapter of the Future Business Leaders of America, Burns continues to inspire with his dedication to mentoring and his visionary approach to entrepreneurship.
What inspired you to start Burns Funding and how does it differ from traditional funding options?
I started Burns Funding after recognizing a gap in the funding market for entrepreneurs. Traditional funding often comes with prohibitive terms and a lack of flexibility. Burns Funding is designed to provide more accessible, entrepreneur-friendly financing options. We focus on innovative solutions like revenue-based financing, where repayments are tied to the business’s actual performance.
How has your experience as a teacher influenced your approach to entrepreneurship?
Teaching at the Barrett Honors College and later at Grand Canyon University sharpened my approach to mentorship in business. It taught me the importance of nurturing talent and encouraging practical, hands-on experience over theoretical knowledge. This experience has deeply influenced how I build teams and lead companies.
Can you discuss the concept behind Millennial Queenmaker and its impact?
Millennial Queenmaker was born from my desire to empower young women entrepreneurs, inspired by my daughters and granddaughters. The company provides mentoring, resources, and strategic advice to help young women build successful businesses. It’s about creating a platform where they can gain confidence and the necessary skills to thrive in competitive environments.
What’s one common misconception about entrepreneurs that you’d like to dispel?
Many believe that entrepreneurs are risk seekers by nature. In reality, successful entrepreneurs are more about calculated risks. They assess situations carefully and take risks that are measured and mitigated. It’s not about loving risk, but about managing it effectively.
What emerging market or technology are you most excited about right now?
I’m particularly excited about the potential of AI in small business applications. AI can dramatically level the playing field by providing small enterprises with tools for data analysis and customer insight, which were previously accessible only to larger corporations.
How do you stay productive and motivated throughout your day?
I stick to a routine that balances work and personal time. Early mornings are for deep work without interruptions. I also use tools like time-blocking to ensure I’m focusing on the right tasks. Staying motivated isn’t hard when you love what you do and believe in your purpose.
What’s the most valuable lesson you’ve learned from a business failure?
The importance of flexibility and adaptability. Early in my career, I clung too rigidly to original plans. Now, I understand that being adaptable in response to feedback and market changes is crucial. Every failure taught me to pivot quicker and more effectively.
How do you approach work-life balance, especially with such a demanding schedule?
Work-life balance is essential, not just for personal health but also for sustaining long-term productivity. I make it a priority to spend time with my family and pursue personal interests. This balance keeps me grounded and prevents burnout, allowing me to be more effective in my professional roles.
What advice would you give to someone who is trying to secure their first round of funding?
Focus on building a compelling narrative about your business. Be clear about what sets your idea apart, the problem it solves, and why you’re the right person to solve it. Investors invest in people, not just ideas, so show them your passion and your plan.
Looking forward, what’s next for Peter J. Burns III? Any exciting new projects?
I’m always looking for new opportunities to innovate and help others succeed. I’m particularly interested in expanding the reach of Burns Funding to support more underserved entrepreneurs. Additionally, I’m exploring more ways to integrate sustainable practices into my businesses, aligning profitability with environmental responsibility.