Serial entrepreneur and mentor Peter J. Burns, III, has found success in business with his ventures Burns Funding and Millennial Queenmaker. As someone who has been asked many questions about entrepreneurship, Burns believes that teaching children to be successful entrepreneurs can start with a simple game of chess. He learned to play chess at a young age and found that the strategic thinking required in the game translated well to entrepreneurship.
One important lesson Burns learned from chess is the importance of planning multiple moves ahead and being ready to adjust based on the opponent’s moves. Just as in business, it is crucial to have a strategy but also be willing to adapt to the competitive marketplace. Additionally, Burns emphasizes the value of hard work and dedication in both chess and business. He attributes his success in chess to his devotion to the game and his willingness to challenge himself by playing against more experienced opponents.
Another key lesson Burns learned from chess is the importance of understanding and reading his opponents. By observing and prodding their defenses, he was able to capitalize on their mistakes and secure victory. In business, this skill translates to being able to read a room and strategically use assets, such as humor, to achieve business objectives. Burns also stresses the importance of knowing what assets to protect and what sacrifices are necessary for long-term success in both chess and business.
Burns recommends being observant and learning from others, both in chess and business. By studying successful strategies deployed by opponents in both arenas, one can gain valuable insights that can be applied to future games or business endeavors. Additionally, he emphasizes the importance of maintaining emotional control and strategic thinking in both chess and business. Just as in chess, emotions can cloud judgment in business, potentially leading to mistakes that can be capitalized on by competitors.
In conclusion, Burns encourages aspiring entrepreneurs to learn from the strategic thinking required in chess and apply those principles to their business ventures. By embracing the logical thinking and emotional intelligence learned through chess, individuals can improve their business acumen and increase their chances of success. Burns’ experience as a serial entrepreneur and mentor highlights the value of strategic thinking, adaptability, and dedication in achieving entrepreneurial success.
