Percy Miller wasn't living the dream so much as he was living in the dream.
It felt closer to a nightmare.
When he was 19 years old, Miller plowed all of his $10,000 inheritance into his first business venture, a record store named No Limit. He soon burned through most of that money and began sleeping in the store to save on housing costs.
"I failed at first. But you've got to get out there and at least swing at the ball to hit a home run. You'll never hit a home run unless you swing at the ball," Miller said. "That first $10,000, I lost most of it. I had to start over and keep building, keep grinding. I had to give discounts and do all kinds of things to get people to come into that store. I ended up having to live in that store, sleep in that store, until I built up enough equity, enough money to get out there and keep building my dream."
Miller, better known as "Master P," persevered and racked up a whole lot of accolades (and a nine-figure net worth) in the years that followed. His business interests have spanned a label named No Limit Records to entertainment to clothing, snack food, real estate, restaurants, video games, a travel agency and more.
Before the rap career that launched it all, he was a businessman. He remains an entrepreneur today, and he's focusing much of those efforts in Nashville, which he's dubbed his new "second home."
We caught up with Miller for an exclusive interview ahead of his Friday appearance at the National Museum of African American Music, for an entrepreneurship event hosted by Nashville-based Launch Tennessee. Our conversation with Miller touched on advice for entrepreneurs, his vision for "economic empowerment" and new business in Nashville, and the big change he wants to spark at Nashville's Tennessee State University. (This interview has been edited for clarity and length.)
What was life like growing up? I grew up in the projects. When you live in that property it pushes you, it motivates you to want to be better. A lot of people start thinking negatively. I said, you know what, this is just a temporary stage I'm in.
Who were your role models who got you thinking that way? I was looking to my grandmother and grandfather. He ended up owning his own bakery. My grandmother was always an outspoken, outgoing person. I just picked that up from both of them. I've always been a student of the game when it comes to entrepreneurship and business. God also blessed me with a mindset, economic empowerment. I don't pray for money; I pray for wisdom. I've never worked for money. I always did the stuff that I loved. When you're passionate about something, the money will come.
Tell me about a time you failed, and what you learned. It's not about being successful right off the bat. When I first got into the music business, you think it'll just happen. Lots of records didn't make it. I was sitting in radio stations, trying to get music played that people didn't believe in. Marketing campaigns that I thought would work, didn't work.
When I fall, I fall with my hands down so I can catch myself, get back up and start over. I had a lot of failures, and I'm not afraid to talk about that. Those molded me to go out and do better. Good thing I made those mistakes in the early stages of my business.
When you're an entrepreneur, it don't matter how old you are. What you have to have is consistency. I was just consistent: 'Let me try to do something every day to get closer to my dream.' It's like if you're a car, driving to a destination. Even though you might get off the road a little bit, detour, you got to keep going toward your destination.
What do you have in store for Nashville? This is like my second home now. I just fell in love with the culture and the people. My son plays basketball for TSU: He's an A student, majoring in business. I'm in and out and will be able to spend a lot more time here. In New Orleans, I have my Big Poppa Burgers restaurant chain, so I'm looking for places to put that here and create over avenues of income in the real estate business here.
Tell me about your big ideas for TSU. We need some entrepreneurs thinking outside-the-box to take this campus to a whole other level. Tennessee State is a great group of people, great cultures, students — but when you look at the administrative side, you have educators trying to do the business side of what needs to be done. You go to Vanderbilt, you have educators, and you have business people taking care of the business side. All these major universities, the sports program is helping fund the school. Tennessee State, I didn't see that. I see the educators trying to figure out how to bring in more money to the school, but not investing in the sports programs. That's the way all these national schools make their money, donations.
So it's just holding those conversations, getting in the room with other people in Nashville. The most important thing is, how do we build economic empowerment?
What does that mean to you? If you are creating future entrepreneurs and putting money back into the community, you'll take away poverty and crime. You're building, you're educating, showing them there's another way. What can we do together, how can we grow this bigger and faster? Creating that diversity in the business world in Nashville and also bringing people together. The goal is to build generational wealth. The key is to get started.
