It is possible and even necessary to launch a business with the few means at your disposal. This is the gist of the message Master P gave during his recent interview with HipHopDX.
Today as in the past, humans seek to distinguish themselves from their peers by the number of successes and assets that they manage to record. For many, the financial security that a salaried job provides is already a guarantee of success, but for the more daring, you have to embark on an entrepreneurship to succeed in life. Only that many candidate for entrepreneurship suffer bitter failures with debts because they want to start with a bang.
Yet in the many self-made men’s stories there are many successful men who started out with just a little money. Warren Buffett is one of the best examples of wealth built from scratch. Buffet is one of the richest people in the world, with a net worth of around $ 100 billion. In 1960, the Omaha native asked a group of 10 doctors to invest $ 10,000 and he ended up with 11. Buffett had pooled his money with a paltry initial investment of $ 100. Two years later, the man was already a millionaire with a surplus of $ 7,178,500, of which more than $ 1,025,000 was personal equity. His financial intelligence led him to take control of a textile manufacturing company, Berkshire Hathaway, which now owns GEICO, Duracell, Dairy Queen,
Like Buffet, the economic model was transposed into the music industry by a man who was kind enough to share his experiences to encourage others to try it out in any field. This is Master P who admits to having launched his No Limit empire with only an initial investment of $ 10,000.
The history of No Limit
In a recent interview with HipHopDX, Master P spoke about his early days and the important decisions he made early on in his life that have shaped his success. The first decision was his move from New Orleans where his future was uncertain for Richmond in California where he took off.
After inheriting the sum of 10,000 dollars following the death of a parent, Master P opened his first business called No Limit Records. And it was already the start of a success story.
“ That’s how it all started, ” he confirms to DX. “ I was this 19 year old kid with a record store in Richmond, Calif. And I built it. You know, it’s been difficult to develop this process and develop it. But you don’t have to have a lot of money. Everyone thinks it takes millions of dollars to start a business . “.
While insisting on starting with little money, Master P also emphasized not losing sight of the initial dream which is never big enough when you are motivated.
“ So I started No Limit with $ 10,000, and it grew into a multi-million dollar empire; we went from selling no records to selling over 100 million records. It is a blessing. You must be dreaming big. Yeah. You have to, yeah. You just have to dream big ”
The positive results of Master P after its debut
Starting from 10,000 dollars at 19, Master P is now a heavyweight in the big leagues at 54 years old. It weighs, according to a Forbes 2021 article, at least $ 200 million. And it’s not just with No Limit Records. The man has extended his tentacles into other income-generating activities that are working well for him. With No Limit Records, Master P has an unprecedented distribution agreement and has released quite a few multi-platinum albums. The box has also sold over 100 million records worldwide. Speaking of diversifying sources of income, Master P has expanded into the grocery business with Uncle P’s Foods and has moved into cereals with Master Crunch Cereal. Beyond business, Master P has not forgotten his teenage dreams. He understood that he could still reach them and he added a sporty side by playing professional basketball. He succeeded in this challenge by winning NBA contracts with the Toronto Raptors and the Charlotte Hornets.
The source of motivation and the pitfalls to avoid
This interview with Master P took on the appearance of a motivational and personal development conference. To know the source of motivation of Master P, we must go back to 2015 when he had already declared his intention to end a dishonorable cycle. “I come from a poor culture, no one in my family had any money, ” he told Forbes in 2015. “ I had to break the negative cycle and pass it on to my children. “
Now that he’s been able to rise to the top, Master P has shared his experience of stardom. He advocates giving fame to products rather than to its designer who will eventually die. According to him, this is the only way to guarantee an eternity of passage on this earth.
” To be famous is to do something that is beyond the ordinary and you know, it has put you in the spotlight where everyone understands that you have done something great and people want to be a part of it” , he explains to open their eyes to everyone. “ But the only thing people have to realize is that fame, talent, doesn’t last forever. That’s why I got into the product business. Product outweighs talent. It trumps fame. And when you have a great product, that product will be there when you’re not. “
Master P prepares for the future
Proud of his success in the music industry, Master P wants to always stay in the ranks of successful people. He is already thinking about the future and wants to take on new challenges. At the same time, he wants to prove his theory regarding the celebrity to orient towards the products. This is why he chose to make his way in the grocery store and cereals.“And that’s what I love about being able to create cereals and being able to create these brands. And I tell people all the time that we’ve taken over the music industry. Now we are taking over the grocery stores. So that’s where the whole Master Crunch affair comes in. The good thing is creating an online grocery store like Amazon because the world is changing, so I’m preparing for the future. I want to be able to have a great product that people believe in and a product that they can trust and they can get it online. So we really want to change the game through this ”
Master P partnered with PLB Sports & Entertainment to launch Master Crunch Cereal last month. P posted a visual on his Instagram on November 23 to promote his cereal. He added a very strong caption for this product. “ With God, anything is possible! Who would have thought that a child with Calliope projects would have their own cereal? Don’t be afraid to change for the better! Master Crunch is the hottest cereal in the game. Www.MasterCrunchCereal.com #TheMoreWeMakeTheMoreWeGive »
Man’s Faith and Philanthropy
In addition to motivation, Master P has indirectly shown that it is important to have faith. And this faith led him to come to the conclusion that his success is intimately linked to his philanthropic side. Indeed, Master P created Master P’s Team Hope Foundation. His organization helps enrich the lives of inner-city youth by continuing their education and providing opportunities for advancement in life as well as helping the elderly with food and shelter. The non-profit organization is financed with part of the profits of the companies of Master P. The brand with the profile of grilled oats with honey and nuts that was born a few weeks ago, will therefore also participate in the financing of the activities. philanthropic man of the very believing man.“If you do the right thing, the Lord will continue to bless and that is what people need to understand,” he said. “I mean, I’ve been successful at this for 25 years, and God blessed me because I’ve blessed other people. “