Better With Paul had the pleasure of sitting down with a true trap connoisseur, a Black History preservationist who’s left me ridiculously impressed with what he’s done. Trapital is an online archive that chronicles the money moves of some of the most accomplished names in the culture.
One day, a quick look into the work of the infamous actor, writer, director, producer, comedian, and all-around entrepreneur by the name of Tyler Perry landed me on this incredible resource that detailed some of the most thought-provoking entertainment white papers I’ve ever come across. Episode 11 highlights the genius of the great Dan Runcie, the founder of the media company responsible for delivering the best business updates on your favorite entertainment moguls like Dame Dash, Jay Z, and Master P. We take the classic independent artist discussion to the next level by highlighting the critical business moves our favorite names made on their way to the top. We talk about the importance of ownership and understanding the power in independent growth while being raw and honest about the various challenges people face while trying to mitigate the perfect balance between natural skill and business sense.
It all boils down to a mixture of art and science. Some people followed many of the same steps that people like Tyler Perry took, and they haven’t seen a fraction of his billion-dollar sales - so what makes the people featured on Trapital so different?
Dan explains the way Trapital has become a resource over the years. It is the voice for Black culture to speak about the business matters and entrepreneurial concerns that impact our businesses more than others - and it’s a safe space for you to learn and apply various business models designed by people who face the same daily battles people like you and I tend to face. Tyler Perry wasn’t lucky. Dame didn’t decide on 100% ownership by accident. Jay Z highlights the importance of Black ownership, but he still signed a deal that made sense for him.
There is no right or wrong in entrepreneurship, and I think that’s one of the essential aspects Dan highlighted on this week’s show. You have to know your product, your audience, and the model you’ll rely on to bring your vision to life. Even in the entertainment industry, you need to understand things like demand and distribution. Tyler’s model today may not exist ten years from now, at least not in the same way. As more of the world becomes ‘woke’ to injustice, and more Black businesses are created, there will come a time where our faces will become much more common on the big screen. I’m sure Tyler knows this, and I’m confident his business is prepared to get restructured as necessary. The question is - have you been evaluating your business in the same way?
If you haven’t, you need to listen in on the talk Dan, and I just had because you’ll start to see yourself, your business, and your worth so much differently after you hear what he has to say.
To learn more about Trapital: https://trapital.co/
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