The story of entrepreneur Peter Burns is a remarkable example of how entrepreneurship works. You see, many people nowadays think that you need to finish a degree in order to become successful. What they fail to realize is that the richest man in the world, Bill Gates, was a college dropout.
Of course, education is very important in the development of a person. It can help you get a great job and a high salary. However, there comes a time in a person’s life when he or she has to make a choice. Entrepreneurs often face this decision in life. They encounter great ideas, but they are faced with the choice of risking it all for their great idea or ignoring the urge and continuing on a safe path.
Peter Burns discovered entrepreneurship while he was on his first year in college. He enrolled entrepreneurship at the University of Virginia. Entrepreneurship classes are supposed to encourage the growth of the entrepreneur in you.
The course sure gave life to the entrepreneur in Peter Burns. One assignment that they always give you in entrepreneurship classes is to seek out a potential business and try to form a feasible plan.
This assignment is actually supposed to train your entrepreneurial instincts and allow you to closely observe your environment for any opportunities. Peter Burns, future entrepreneur, thought of doing a business plan on renting mopeds at US vacation spots.
Peter Burns’ instructor found the plan simply brilliant and encouraged him to try it out during the summer vacation. Now, many people do not realize the effect entrepreneurship can have on the college student.
You see, even in the world today, college students aren’t so sure that their parents’ advice about getting a degree actually holds water. When you take a look around you, you’ll probably see a lot of people with all sorts of initials and letters after their name suffer the world of unemployment.
You see, we live in a world where connections often matter more than degrees. This world really does not allow employees to rise to the level of success. We live in a nation where the word “employment” means that you’re underpaid, overworked, and you work under a person who is always dumber than you.
Kids hear their parents complain about their work all of the time, so why should they believe them when they say that getting an education is the key to a great future? These are the thoughts that enter a young person’s mind when they think about their futures.
Now, Peter Burns became an entrepreneur at the encouragement of his teacher. He tried out the business he presented and found that it was actually quite profitable for him. Plus, he was doing what he loved. He was his own boss. What more can a 19 year old ask for?
You see, in the four months of summer vacation, young entrepreneur Peter Burns was able to make 50 thousand dollars.
When you think about it, minimum wage just seems so lame compared to that figure, right? So, young entrepreneur called up his instructor and said the inevitable: he already got started on his road to successful entrepreneurship.
Of course, tourist season was soon over and Peter Burns had to find more customers. He took his business on the road. He started traveling to different tourist spots to find more customers. He had a pretty clear view of his target market. He went to places with plenty of scenery, a long tourist season, and slow traffic. These, according to him, are the best conditions for moped rentals.
Now, the business of Peter Burns has grown to a point where he actually franchises. It just goes to show you that there are things you can learn about business outside school. In fact, entrepreneur Peter Burns’ rentals now gross over 1 million dollars a year. You want to hear the good part? It’s all in cash.
The success story of entrepreneur Peter Burns doesn’t stop there, of course. He may now be thinking about real estate holdings. This just tells you how sheer talent can really compensate for a college degree. Peter Burns got to this point in life all because he made a choice and stuck with it.