If you haven't taken note by now, I find lessons about life, business and personal branding in just about EVERYTHING! If you follow me on Instagram, you've seen me talk about lessons I've learned from trees, hiking the terrain in the Garden of the Gods or even in the way penalties were being called on Serena Williams after she had her baby.
I've been a long-time fan of Master P (born Percy Miller) since the 90s. I can clearly recall the first time I heard his voice, "Make em say UHHHHHH", over the radio. I was immediately hypnotized by a sound that I had never heard before and became an instant fan. Outside of his music and the way it made me feel (I mean the hooks of many of his most popular songs are so freakin MOTIVATING!) I never really thought too much about who Master P was as a person. 🤷🏾♀️
It was well known that he hailed from New Orleans and for the longest time I thought he had something to do with Cash Money Records 🤫 For some reason, though, when I saw the BET trailer for the No Limit Chronicles, I made it a point to watch.
And I'm so glad I did!
As I watched the first episode of the docuseries, I was IMMEDIATELY inspired! Master P is not only a Nik Scott certified musical genius for the way he completely disrupted hip hop and broke down musical barriers, but he is a savvy businessman who knows how to see what he wants and (literally) set no limits to getting it!
Here are the 3 things I learned from Master P:
1. Pay for access.
This is a theme that I've been hearing a lot from my mentors. When I first heard it, I'll be honest, it made me feel some kind of way. The way that I have heard it put to me (twice from two different mentors in the past 45 days) is:
"You have to pay to be in the circles you want to be in."
That is exactly what Master P did! When he wanted to take his musical career to the next level, he set his sights on the best in the business, Michael Jackson. He reached out to Michael Jackson's attorney to get a meeting. That meeting costed Master P $25,000. During that meeting, Master P learned the ins and outs of how to get paid through distribution. Master P took the formula that Michael Jackson's attorney taught him and negotiated the largest distribution deal any hip hop artist had ever signed at that time, ultimately setting Master P up to be the mogul we know today.
Have you ever felt like you needed help taking your business , skills or career to higher heights? Have you ever come across coaching or a program that was priced at a premium? How did it make you feel? Did you invest in it? 🤔
2. Trim the fat.
In the early ascent to his fame, Master P did like so many others who start out in business, he invited all of his family and friends to take the ride with him. It didn't take long, though, for some of those people to become a distraction and lose sight of the vision that Master P (the CEO, owner, founder, leader, the sole HNIC) mapped out.
When this happened, Master P let those people go. He had a vision for his brand and for his company. Master P did not allow naysayers and disruptors drag him down or slow his momentum. I'm sure it wasn't easy for him, but he understood the added weight of carrying people who no longer align with where you are going wasn't going to get him off the ground as fast as he wanted to.
What persons, places or things are you holding onto that is holding you back from the momentum you need to grow?
3. Know your worth.
If someone offered you $1,000,000 for the sole ownership of your business RIGHT NOW would you take it?
If you've ever watched Shark Tank, you've seen this scenario played out ad nauseam.
How much is your company worth to you? Better yet, how much are your products and services worth to your clients and customers? How much are you worth to your employer? Is it more or less than what you are charging them to have access to your unique set of knowledge, skills and abilities???
From the very beginning, Master P knew his worth. He sat in a meeting with an executive at a big Los Angeles record label who offered him $1,000,000 for his work. At the time that was the most money Master P had ever been offered. Surely it was tempting and the thought of accepting the offer probably crossed his mind.
Master P knew his worth. He believed in his worth, his work and his brand. He knew, beyond a shadow of any doubt that what he was offering was valued at way more than $1,000,000 EVEN THOUGH he'd never made that amount of money before (let that sink in) ...
Master P walked away from the offer and according to Google now has a net worth of over $200,000,000 (let THAT sink in)!