So two or three years from now, when you get that big contract, it’s a hundred million dollars. So think about this, 5 percent of your money, you never met ’em. So all they’re going to do is write checks for you, pay your utility bills write the checks to your parents, your friends or relatives, whoever, ’cause you ain’t got time to do that. I’m going to take 5 percent of what you make, and I might even give you some money.”īecause they already know what you’re worth. But this how he’s gonna get you: He’s gon’ tell you, “It’s not going to cost you no money. All of a sudden this guy comes up with a suit on and he’s going to tell you what to do with your money. The women, all that’s gonna come, the opportunity, all that.
The first thing gon’ come to you is a lawyer and a financial adviser. That knowledge gave him an upper hand in negotiations. Consider entry-level concepts, things like Tax IDs, and ways to structure a company. At college, he learned the fundamentals of business, but he also learned about the system of trade. Master P attended the University of Houston on a basketball scholarship before relocating to Merritt Junior College in Oakland to be closer to his family, who lived in nearby Richmond. The hospital settled a negligence claim over his grandfather’s death, and Miller got $10,000 of the money. Master P’s grandfather was killed in a work-related accident at a New Orleans hospital. The story of No Limit Records has a dark origin. “For somebody to sell it out the trunk of their car, you just really know he believes in that product.” “The same way you would see someone selling cologne or Avon? That’s how I sold it,” Master P boasts. Then he hit the road and sold everything out of the trunk of his car. He formed a group, TRU, consisting of himself and his two younger brothers, Silkk the Shocker and C-Murder, and made sure to cross-promote every upcoming project in his current releases. Two-CD compilations were sold for the price of one. So, a No Limit album would come with about 20 minutes more music than the average CD. That, he figured, would keep them coming back. “(Master P) knew he couldn’t compete with other record labels’ huge promotion and music video budgets but this much he could do: give his audience more for less. The Original No Limit Records Logo How Master P built No Limit into a challenger brand That product needs to be looked at the same way the founders of other challenger brands look at their creations: A brand that exists in a marketplace.įor the sake of hammering this metaphor home, I want to clearly apply the challenger brand metaphor to one of hip-hop’s biggest success stories: Percy “Master P” Miller and No Limit Records. How does the challenger brand concept apply to rap? To have productive conversations around the business in creative industries, we need to disconnect the music’s emotion from the company that makes the music.
#No limit records full#
These challengers build themselves to the point where one of the significant players realizes it’s financially smart to buy the company out to increase their share in the market and, in turn, bring the full muscle of a major behind the challenger brand than to compete. These brands carve a piece of the marketing landscape as well as a share of the market for their products by using unorthodox tactics to do more with less.
You’ve heard of Challenger brands: Warby Parker, Casper, Oatly, Under Armour, you get it? Rate of success: meaning the brand has experienced significant and rapid growth in its market.State of mind: meaning the brand has ambitions beyond conventional marketing resources.State of the market: meaning the brand is not a market leader nor a niche brand.The book defines challenger brands by three specific criteria: If I called a company a “challenger brand,” would you know what that means? The term comes from a 1999 business book called “Eating the Big Fish’. Written by Ernest Wilkins from Office Hours. A cultural analysis on how Master P took the iconic brand to the top.
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