"You're Not a Boss Until You Create OTHER Bosses!" | Master P and Shark Tank Daymond John
Added: Sep 28, 2023
In this podcast episode, Daymond John interviews Master P, a highly respected entrepreneur and pioneer in the music industry. Master P is known for his groundbreaking approach to the record business, where he proved his worth and demanded double payment for his talent. He has since expanded into various industries, including food and clothing, and continues to be a trailblazer with his brand, No Limit.Master P started his journey in the music business as the owner of a retail record store. He learned the ins and outs of the industry and saw an opportunity to create his own music. He started No Limit Records and became the first act on his own label. He attracted big names like Tupac and E40 to his store, and his success grew from there.
One of the key lessons Master P learned early on was the importance of consistency. He realized that in order to succeed, he needed to be consistent in everything he did, whether it was in his music or in his business ventures. He emphasized the need to have a strong work ethic and to never quit, even in the face of failure.
Master P also discussed the importance of representation and diversity in the business world. He named his company No Limit to signify that there are no limits to what he can achieve. He wanted to show that black-owned companies can be successful and make a significant impact in the industry. He emphasized the need to support and uplift other minority-owned brands and create economic empowerment within the community.
The conversation also touched on the power of words and the impact they can have on one's success. Master P shared his experience of being told that he would never sell records if he wasn't from the East Coast or West Coast. However, he used that negativity as motivation to prove his critics wrong and represent his hometown of New Orleans.
Master P's son, who accompanied him during the interview, was also discussed. Master P shared that he teaches his son the importance of hard work, humility, and using his talents to make a positive impact. He emphasized the need to appreciate what one has and to give back to the community.
Throughout the conversation, Daymond John and Master P highlighted the importance of economic empowerment and creating opportunities for others. They discussed the need for representation and diversity in the business world and the power of consistency and hard work. They also emphasized the importance of using one's success to uplift and support others in the community.
Master P emphasizes that success is not determined by external factors such as money or fame, but by one's passion, dedication, and willingness to learn. He believes that access to information is crucial and that anyone can be successful if they are willing to acquire knowledge and apply it with common sense. He stresses the importance of being obsessed with one's goals and being willing to outwork everyone else.
Education is another key factor for success, according to Master P. He believes that while formal education is important, being obsessed with learning and constantly seeking knowledge is equally crucial. He encourages individuals to be passionate about what they do and to have a strong work ethic.
Master P also emphasizes the importance of assets over liabilities. He explains that assets are things that feed you, while liabilities are things that eat away at your resources. He encourages people to focus on building assets and to avoid getting caught up in liabilities that do not contribute to their success.
The power of ideas is another subject discussed in the podcast. Master P shares his own experiences with starting businesses and emphasizes the importance of having innovative ideas and being willing to take risks. He believes that success comes from being able to adapt and evolve, and that being obsessed with the journey rather than the destination is key.
Mentorship and collaboration are also highlighted as important factors for success. Master P encourages individuals to seek out mentors and to network with others who have similar goals and mindsets. He believes that surrounding oneself with good people and being open to learning from others is crucial for personal and professional growth.
Throughout the podcast, Master P and Daymond John share personal anecdotes and insights from their own experiences. They discuss the challenges they have faced, the importance of perseverance, and the need to be grateful for what one has. They also touch on the negative impact of ego and the importance of being humble and willing to start over if necessary.
