5 Lessons Entrepreneurs Can Learn From Millionaire ‘Indie Artist’ Mac Miller

Malcolm McCormick or Mac Miller as most of you know him as is a superstar in the music industry. He’s had a #1 album, over 200 million views on Youtube, and has even somehow influenced my 6 year old brother to start ‘mackin’. Oh yeah, he’s also 20 years old and has no major label behind him.

So almost all successful artists have had great visionaries behind them or have had a bit of the entrepreneurial hustle themselves. However, Mac Miller did it all on his own. He’s not only an inspiration for upcoming musicians, but he should be considered a legend among entrepreneurs. Here are the entrepreneurial lessons Mac Miller teaches us:

1. Don’t Sell Your Soul.

Many entrepreneurs are willing to sell their souls and give away equity in their business to an investor when they really don’t need one. If you can bootstrap your startup or find any other solution to derive success for your business, do that first. Investors are the last lifeline you want to use.

Mac Miller knew the label companies would make him change and he would be a slave to them. Instead of selling himself short, he decided to take his career in his own hands. He hustled hard and worked even harder to get himself where he is today.

Lesson: You do not need an investor or huge financial backing to be successful. Do everything you can with what you have before you go looking for investors. Only give up equity to an investor when it’s your last option.

2. Dare To Be Different.

Mac Miller is anything but the typical rapper. He is an American-born Jewish rapper. How many Jewish people do you see rapping and smoking weed? Yeah, he’s probably the first. He has a lot of haters, but he doesn’t care.

Entrepreneurs need to understand that being unique is a great thing. If there is something you can do to make your startup stand out from the others, do it! Not only will it help you get more publicity, but it can fuel your rise to the top. Don’t worry about the criticism you will get, it’s part of being successful.

Lesson: If there is something original about you or your business, share it with the world. Use that as a trampoline to get more attention for your startup, which will lead to greater opportunities.

3. Work Your Ass Off.

Mac Miller admits that he used to party and cause mayhem everywhere he went in his teenage years. Mac says, “Once I hit 15, I got real serious about it and it changed my life completely… I used to be into sports, play all the sports, go to all the high school parties. But once I found out hip hop is almost like a job, that’s all I did.”

Once he turned 15, all he did was music. He was focused, dedicated, and wouldn’t stop until he was successful. He taught himself how to play numerous instruments, studied the greats, and did everything possible to take his career to the next level. If he wasn’t dedicated and passionate about what he did, he wouldn’t be where he is today.

Lesson: If you don’t work hard, you won’t be successful. As an entrepreneur you need to live and breathe your startup. Find something you’re passionate about and be committed.

4. Be Risky.

Mac Miller employed a brilliant marketing strategy that made him a lot of money. When he finished his album ‘Blue Slide Park’, he told his fans he would only release the album when he got 50,000 preorders. Essentially, he built up hype and anticipation for his album, but he didn’t give it out until he got what he wanted.

This plan worked great for him because his fans were dying to have the album. After he got his 50,000 preorders, he released the album and had even more fans. However, things could have gone horribly wrong for him. The fans could have lost interest in the album and he could have made no money.

Lesson: As an entrepreneur, you have to take risks. Some risks will sting and others will pay off big. Take calculated risks that can have a huge impact on you or your business.

5. Don’t Let Success Get In Your Head.

On a recent interview with Forbes (shown below), the interviewer asks Mac Miller when he realized he made it and Mac says he doesn’t think he’s made it. Wow, he’s got millions of dollars, #1 Albums, his name on the record books, and he still doesn’t think he made it? This shows you how high his goals and aspirations really are.

Mac Miller still continues to work around the clock instead of party hard to celebrate. While celebrating is okay, you can lose what you earned just as fast. He understands that and he’s truly in love with the business. Some people make it and then fall in love with the fame. However, Mac really shows us that he’s driven by the passion and not other ulterior motives.

Lesson: As an entrepreneur, you have no finish lines, but rather checkpoints. Every goal or achievement is a checkpoint to the top. Don’t take your first signs of success to heart because you can lose it just as quickly.

Conclusion

The scary part is that Mac Miller is only 20 years old and already has a resume that would make many musicians envious. His rise to the top of the music industry has not been lucky, but rather strategic and well-earned. Below is an interview of Mac Miller with Forbes.