After hearing Jay-z’s interview from Brooklyn to the Boardroom, I had to take some notes and share them with everyone.

• Jay-z himself didn’t think he would be a great rapper, he was on “his hustle” trying to make some quick money when he came up with his first album.
• Every single record company turned down Jay-z at first.  He had to start from the ground up.  He used to sell cd’s out of the back of a truck since no record label would sign him up.  He founded rocafella in order to launch his first record.
• Jay-z noticed crowds copying his clothing styles, they wore brands and colors he wore when he performed.  So Jay-z approached a brand name clothing company trying to make a deal pointing out his fans as the market.  The company wouldn’t go for it so Jay-z started his own clothing company just like he did with the record label.  He called it Roca-Wear.
  • They basically got 2 sawing machines, and started making clothing
  • Their offices had rats at nights, so they always had to be out by 5pm
  • Roca-Wear went from making $0 - $90 million in one year
• Jay-z and his group are all about creating multiple streams of income since music and hip-hop as a business model can be very shaky at times
• Jay-z is on the board of directors of the New York Nets
• Jay-z also signed contract with Reebok to produce his lines of sneakers
• Jay-z also is got his 40/40 sports bar in Manhattan
• Jay-z is even got his own vodka
• Jay-z basically created a lifestyle

This lead to the question of why it is that many rap and hip-hop artists including Jay-z, Dr Dre, Eminem, Lil Wayne, & 50 Cent become very successful and rich, coming from rags to riches.  On the streets they learn how to do business (sometimes from selling drugs), how to handle relationships, overhead, costs, deal with customers, complaints, and competition.

“Truths Trumps Intelligence” - A quote said by Jay-z, not sure if it’s his or if he was quoting someone else.  He indicated that if he doesn’t understand something, he admits it and asks for help, instead of trying to be smart, and do it himself the wrong way.

Jay-z indicate that a big key to his success in the music business is that he didn’t know how it worked in the first place.  He said that everyone else in that business thought they knew it all and were all trying the same tactics, and techniques.  Jay-z on the other had followed his intuition, he would see a large crowd of people somewhere he would show up and start rapping.  “When you have a manul infront of you, you are restricted, you are in a cast” - Jay-z said he didn’t have that which is why he was successful.

“I don’t think it’s based on making music” - Jay-z talking about how everything he does is part of him, he’ll never pretend or try to be something he’s not, he’ll never advertise something he doesn’t like, he’s very authentic, and real in many ways.