10 Reasons why Prince is the Ultimate Entrepreneur

Entrepreneurship is not for the faint of heart. Not everyone is cut out for the time and dedication it takes to succeed. Not to mention, making it “Big” requires a whole ‘nother level of persistence and resilience that many aspire to, but fail to execute on.

While attending Celebration 2019 at Paisley Park, I was enamored by the stories shared by Prince’s band members and staff. Since Collaboration is my jam, I was planning to write about the ways Prince embodies the title of Master Collaborator—even after his passing. I did that. However, collaboration is a necessary component in entrepreneurship and Prince was a brilliant creator who created a legacy beyond what others even dream of—let alone create.

For this reason, I felt Prince deserved an article dedicated to his passionate entrepreneurial pursuits.

Here are the ways Prince’s pursuits struck me as integral to his success as a business man and someone whose legacy is known and experienced worldwide.

1. Prince had amazing vision and huge, extraordinary dreams. More importantly, he believed in his dreams and worked tirelessly to implement them. During the tour of Paisley Park, a blue college-ruled spiral notebook was encased in glass. The cover read, “DREAMS” and contained notes and visions for Prince’s movie debut, Purple Rain. So many times throughout the weekend, panelists described Prince as someone who made up his mind and then proceeded to work relentlessly until the dreams were realized.
   
   
2. Prince surrounded himself with people who supported him in bringing his dreams to life. One of the panels at the event included a discussion with Prince’s manager, Bob Cavallo. Before agreeing to sign another five-year contract, Prince asked Cavallo to get him a movie. Not just any movie, mind you. He was looking for a movie with a major studio and his name above the title.  With zero experience in the movie business, Prince landing such a deal didn’t look so hot on paper. That didn’t stop him. Plus, Cavallo trusted him stating, “I wasn’t sure how his dialogue—his acting—was going to go. But I had a perhaps naive belief that the kid could do anything. I watched him rehearse for years. No one had the attention to detail he had. I thought, ‘He’ll figure a way to do it.’
   
   
3. Prince refused to stop at the answer “No” and looked for solutions instead of focusing on problems. Bob Cavallo revealed that Prince’s debut film, Purple Rain wasn’t initially backed by a studio. The movie was produced with funds fronted by Prince and Cavallo and later signed by Warner Bros. In other words, they gambled on his talent. This film grossed $70 million, which according to Cavallo is the equivalent to $250 million in today’s funds.
   
   
4. Prince persisted despite humble beginnings. Before agreeing to sign Prince as a client, Cavallo invited him to perform in Anaheim, CA. According to Prince’s drummer, Bobby Z, approximately 20 people attended that show. A small crowd didn’t stop Prince from doing his best and continuing to show up. This resulted in an ever-increasing fan base over time.
   
   
5. Prince stayed true to himself and wasn’t afraid to buck the system. When touring the Purple Rain room at Paisley Park, there was a sign noting lyrics from Darling Nikki were the impetus for music warning labels for tracks with explicit lyrics. As an artist, Prince went to the edge often. Instead of changing his expression, he provided an opportunity for the industry to adjust.
   
   
6. Prince went big! Prince’s band members and staff recounted his ridiculously high standards, attention to detail, and involvement to ensure things came together meticulously. As an example of the grandeur, the horn section of his band included not one, two, or three horns, but 11 complementary sounds.
   
   
7. Prince used his perceived “imperfections” and boldness to his advantage. As a man who embraced femininity and measured five feet, three inches tall—in a world that glorifies stature and masculinity, he didn’t change who he was—nor did he apologize for it. He simply owned it!
   
   Upon meeting Prince for the first time, (his attire included a trench coat, pantyhose, and a G-String), Cavallo commented that maybe he shouldn’t perform in his underwear. Prince’s reply, “Ok. I’ll take them off.”
   
   
8. Prince was generous in supporting others and sharing the wealth. As a philanthropist, Prince was diligent about supporting others. According to Funk Soldier, Chance Howard, “He never wanted any recognition. It wasn’t about that. It was about getting it done.” Howard marveled at the way Prince helped him recognize there’s more to giving than performing musically. Revolution band members also noted that as soon as he began headlining, he asked concert attendees to bring cans of food to fill food banks.
   
   
9. Prince led soldiers into battle for collective benefits. Drummer Bobby Z noted the way Prince broke down racial barriers and changed the music business stating, “It was war—he was taking on the war.”  Speaking of war, Funk Soldiers, Kirk Johnson and Renato Neto, noted they were taught not to settle as they went through the “School of Prince.” They also admired the way he could make everyone work together.
   
   
10. Prince lived the contrast of his gifts. Revolution band member, Wendy Melvoin recognized Prince as “extremely gifted—and almost at the same time—equally stressed because he had to do it (bring his vision to life).” Drummer Bobby Z noted Prince lived to create. He was creating at all times and was relentlessly driven. He stopped at nothing but the highest manifestation of his dream.

From the humble beginnings of a spiral notebook to a musical legacy and destination for purple family members to celebrate and connect, it appears to me that Prince’s entrepreneurial vision gains new life with each passing year.