The Secret to Master P’s Millionaire Mindset and Business Success [Video]
Two words that accurately describe hip-hop mogul Percy “Master P” Miller’s entrepreneurial journey are humble beginnings. In the late ’90s, the rapper and businessman took the music industry by storm after turning down a million-dollar offer to sell his No Limit Records label, which ultimately became his empire.
In an exclusive interview with BLACK ENTERPRISE, the founder and CEO of P. Miller Enterprises shared the importance of knowing your worth, ownership, and creating generational wealth. He also revealed that his “millionaire mindset” formed when he was living in a three-bedroom apartment with 15 family members in the Calliope Projects, located in New Orleans’ Third Ward.
“I never said I was broke…I always said that I’m waiting on the check,” said the successful entrepreneur. He went on to discuss the power of words. “When I was on that floor in the projects, I would say, ‘This floor is going to turn into [a] marble floor.'” He added that his entrepreneurial journey began at 6-years-old when he would help the elderly carry their groceries and cut grass in exchange for a few dollars.
After turning down the million-dollar deal for his business, Master P learned the importance of respecting the time that it takes to build something great.
“You have to be committed to what you do. Everybody thinks it’s about the money. Nobody really gave me anything, but, I was committed to what I believed in.”
As a result of his commitment to greatness, he now has enterprises within real estate, fashion, television, film, restaurants, and more.
And as a father, Master P has indoctrinated his children with entrepreneurial teachings and practices to secure their financial futures and the legacy of the business he has built over the past two decades. So much so that his son, rapper and reality TV star Romeo Miller, is one of his business partners and executive directors of their newly released film, I Got The Hook Up 2.
“For me and Romeo to be able to do this as a father-son team and business partners (we financed and starred in the film) that was important,” he said.
In addition to all of his enterprises, Master P and Romeo created a luxury sneaker line called Moneyatti and allocated a portion of the proceeds toward educating the New Orleans youth. “I want to be like Muhammad Ali. He went out there and made a lot of money, he fought hard in the ring, and he fought for our people outside of the ring.” That’s the type of leadership and sacrifice that Master P aims to mirror.
Business Advice from Master P:
- Never do a deal when you’re desperate.
- Know your worth.
- A lot of people are loyal to things, but being committed, having faith, and a vision is what’s going to get you to your dreams and help you reach your goals.
- Celebrate other people’s success.
- If you have a vision that you are committed to you will be successful.
If you’re wondering what’s next for the mogul, he will be entering the video gaming and tech industries.
Watch Master P’s video interview below.