Effect of Risk, Reward, and Motive on Jay-Zs Goals - Essay Example

Entrepreneurship Contents Introduction 3 Effect of risk on Jay-Z’s goals 3 Effect of reward on Jay-Z’s goals 4 Effect of motive on Jay-Z’s goals 5 Conclusion 6 References 7 Introduction The term Entrepreneurship implies to the limit and ability to improve, arrange and deal with a business venture in addition to any of its dangers so as to make a benefit. The most obvious illustration of enterprise is the beginning of a startup business. The theme of the present report is related to discussing one such personality who proved to be successful in his/her entrepreneurial approaches. The question that need to be addressed here are to what extent do risk, rewards and motives contribute towards entrepreneur’s goals? The person chosen for the report is Jay Z, the famous rapper. Born on the fourth of December 1969 at Brooklyn, Jay Z was known as Shawn Corey Carter to everybody. His adolescence was spent surrounded by war & wrongdoing ridden environment of the Marcy Projects. He had the propensity of composing since his adolescence days. He was dashing by nature & learnt bike riding at the youthful age of four. To help his family he began rapping in the city. Before long he was famous as a fledging rapper. The individuals who knew him began calling him as Jazzy. He abbreviated this name & got regarded as Jay-Z (Greenburg, 2011, p.1). Effect of risk on Jay-Z’s goals Jay-Z’s early life was full of struggle and hardships. Soon after starting his rapping career Jay-Z started diversifying and exploring new fields. He chose to begin his own music brand rather than signing other renowned brands. This technique would doubtlessly cut the expense of middlemen still it was risky enough. His companions, Kareem Burke & Damon Dash helped him in the shaping of Roc-a-Fella Records. Jay-Z required an exceptional wholesaler for Roc-a-Fella Records & he made an arrangement with Priority Records. His introduction collection, "Reasonable Doubt" was at last started in 1996. Jay-Z once rapped that "Im not a businessperson", "Im business, man" (Marshall, 2011, p.1). He is viewed as one of the best rapper as well as a fruitful business person in the fields of sports and apparels. Today Jay-Z has a sports agency in his name. It’s known as Roc Nation Sports which is an agency for athletes. It is a partnership firm with the president of the agency, Juan Perez & Creative Artists Agency. It started its first contract with Robinson Cano. In 2004 he purchased the basketball team named New Jersey Nets (Hoblin, 2012, p.84). Recently Kevin Durant left Landmark Sports to join Jay-Z’s agency. The company’s fast growth and signing of stars like Victor Cruz made it the cause of jealousy for some other rappers in the industry. American rapper Curtis James Jackson, who is popularly known as 50 Cent, picked up a fight with Jay-Z stating rappers should not be sports agents. However he did all these without prior experience and with a risk taking mentality (Smith, 2010, p.509). Effect of reward on Jay-Z’s goals Today Jay-Z is considered as one of the most influential and successful rapper in the world. His songs soon accomplished a tremendous fan following particularly "Aint No Nigga", featuring Foxy Brown. He came up with another collection "In my Lifetime Volume 1" in 1997. From this time onwards, Jay-Z never needed to look back. His one after another alternate hit melodies soon made him the heartthrob of millions. The well-known collections like "Hard Knock Life", "The Blueprint" & "Life & Times of S. Carter" made a huge number of admirers for him (Shapiro, 2005, p.1998). In 2008 he was invited to headline the Glastonbury festival. Critics said that the festival was for contemporary guitar players and including a rapper is irrelevant. However the audiences accepted him with open hands and enjoyed every bit of his performance (Hoblin, 2012, p.88). Effect of motive on Jay-Z’s goals Jay-Z always felt the necessity for a male in his house since his father left his mother during his childhood days. He was just 11 years of age when this sudden change in his life completely stunned him. He lost his main tutor (Lethem and Bresnick, 2002, p. 227). To help his family he began rapping in the city. Thus the motive of providing support to his family and protecting his siblings from poverty and suffering drove him and continuously inspired him to utilize, explore and enhance his skills. Sources say that Jay-Z was found rapping in between his classes & during his lunch breaks at schools when most of the kid would involve in fights & games. Jay-Z also participated for a short time in a now forgotten group, named Original Flavor (Whitaker, 2011, p.438). Jay-Z’s attraction towards music and his passion towards rapping mostly developed from his childhood days. As a kid, one day while roaming around, Jay-Z found a group of kids standing in a circle & clapping, surrounding a teenager who constantly rhymed about anything that came on his mind. On that very day he got attracted towards writing his own poems. He used to carry a notebook along with him & used to put down in it as soon as something came into his mind. Also his family was very fond of music which also acted as a major motivation for the rapper. The atmosphere always had music in it. His parents were huge fans of Michael Jackson, Marvin Gaye & Prince. From floor to ceiling, the house was always full of music records of famous singers. He found music as a very good medium to speak out his mind. He had the zeal within him to become famous & make money, and this motive made him what he is known for today (Spilsbury, 2013, p.6). Conclusion Thus it can be concluded after going through the detailed account of Jay-Z’s entrepreneurial abilities, that if someone is determined to achieve something, nothing can stop them and in the case of the famous rapper Jay-Z, the negative factors like risk, uncertainty and struggle played significant roles in motivating him and driving him towards achieving success. It might be said that rapper Jay-Z successfully turned even the negative aspects of his environment to positive forces that boosted his growth as an entrepreneur. Hence it is always true that an entrepreneur is a risk taker and he undertakes risk for gaining huge profits, what the singer has already earned and is still earning. References Greenburg, Z.O. 2011. Empire State of Mind: How Jay-Z Went from Street Corner to Corner Office. UK: Penguin. Hoblin, P. 2012. Jay-Z, Minneapolis: ABDO Publishing Lethem, J. and P. Bresnick, 2002. De-Capo Best Music Writing, Cambridge: De Capo Press Marshall, C. 2011. Grammar, Minute Help Press Spilsbury, R. 2013. Jay-Z. UK: Raintree. Smith, J.C. 2010, Encyclopedia of African American Popular Culture, CA: ABC-CLIO Whitaker, M. (2011), Icons of Black America, CA: ABC-CLIO Read More