Many unlike fellow music artists; who will spend their money on fancy houses, cars, and nights out, Jay-Z has invested the money in the form of building his own businesses for himself which he earned from his music performance.
Don’t get me wrong, he has all of the above, but within a few years, he has become a truly successful entrepreneur and also a successful music artist and has been smart with his money. Jay-Z now has an estimated net worth of over Net worth $1.3 billion USD to his name.
Whilst I’m not totally certain how much of this has come from the business side of things; it’s safe to say that it’s a hell of a lot, with Jay-Z owning companies which include Roca wear & Roc-A-Fella Records. Here are 10 of Jay-Z’s success lessons:
Jay-Z, as a young boy didn’t really have many possibilities going for him when he was developing. He grew up in Brooklyn, living along with his mum who needed to support their family on her own. When he was old enough to earn money on his own, the simplest option he had where he lived was to go out and deal drugs.
Even when he became dealing, he showed real talent as a hustler, and as he commenced to work hard towards his final intention of becoming a rapper, it wasn’t long before his skills started to grow.
Have an ‘Empire State of Mind’
When you observed a hip-hop artist, wealth is something that springs to mind very quickly. He sees music as his passion and an amazing way to express himself, but his mentality is towards building an empire. He’s owned restaurants, clothing companies, bars record labels, and much more. This is a state of mind that every entrepreneur should have.
Don’t Wait Until You Have The Tools
Many people appear to get stuck in the mindset that they have to wait until they have everything they want before they start on a venture. This is not the natural order of matters. Work leads to growth, which leads to income, which leads to funding for the correct equipment, which then leads to more growth, and so on.
Jay-Z didn’t begin by expressing all his rhythms with the use of instruments, oh no, he commenced by simply using his hands on a desk to create beats. It’s the same story as when he first started Roc-A-Fella Records. There have been no fancy computers, not even a desk. He worked his way to the top from the bottom where he has.
Have a Plan
Jay Z is an extreme entrepreneur. He didn’t just begin a business and take it from there. He created a proper and official business plan to ensure he knew exactly what the plan was before jumping into things.
A lot of people think that they could have a quite proper memory so they don’t want a hard copy plan. But the fact is, that once you have everything written down in front of you, certain things appear much clearer than they could to your mind.
An Idea Could Strike at Any Time
You never know when any other idea could pop into your head. Funnily enough, when you flow approximately from place to place in your day-by-day lives, a sudden change in the environment around you could without difficulty provide a new concept.
Jay-Z was prepared for this. Whenever he used to wander around with his friends, he would always Carry a pad around in case something triggered any new lyrics to come about. He’d then stop and write down something that got here to mind before moving on. The same can be implemented to something a business venture you’re a part of.
Don’t Run Your Mouth
It’s quite easy for people to get persuaded by others. Whether it be their friends or family. If you begin pouring out your goals and dreams to them, you cannot get the proper response and support you were looking for.
So instead of whispering to all of them about your goals straight away, try and refrain from it. Them not knowing will allow you to focus on your work and towards your goals.
Skills Can be Transferred
Jay-Z doesn’t have a fancy diploma or degree in business. Far from it. He learned most of his competencies from when he was developing, dealing on the streets.
Even though we don’t really think about drug dealing first as being a great talent set user, Jay-Z received a lot of information about sales and management from this and transferred it into his later real, professional, and expert businesses.
Trends, most noticeably in fashion, don’t last for very long. So if you become copying a trend for your business, the possibilities are you won’t remain very long. Autotune become a completely trendy element in the music industry as Jay-Z grew as a music artist. T-Pain is the most infamous for the use of this in his songs, but Jay-Z stayed clear and kept on doing his own thing. He made a smart choice.
Don’t Take Your Eyes Off the Prize
Sometimes when you’re working so hard at something and you finally start to get a little taste of what success is like, you automatically think you’ve made it; Start to spend extra money than you can afford, and so on. Try to resist this temptation.
Start a Blog
Might appear slightly strange that a hip-hop artist who’s also trying hard to build an empire, has time to regularly blog. However, Jay-Z noticed it as an awesome way to write down his emotions and to be able to communicate them with the rest of the world.