"Play Your Part" was previously released on Rick Ross' 2010 mixtape, Ashes To Ashes, while "Pandemonium" was also previously released along with a music video. The album was planned to be released on May 24, 2011, but got pushed up one day to May 23, 2011. The album sold 58,900 copies in its first week, debuting at number 5 on the US Billboard 200 and number 1 on the Top Rap Albums and Top R&B/Hip Hop Albums charts. As of November 25, 2011, the album has sold 183,000 copies in the United States.
In an early March interview with Rap Radar, Rick Ross was asked if there were any plans of releasing a Maybach Music compilation album to introduce his new label-mates. Ross responded to the question stating:
"I think we will bypass the compilation aspect but we’re gonna be releasing mixtapes. I was on the phone with DJ Drama last night discussing the possibility of a Maybach music, Gangsta Grillz. Like what we could do to make it different, you know. We had a good conversation."
However, a few hours after the interview was posted to the internet, Rick Ross seemed to have a change of heart. He soon announced that he and Maybach Music Group will be releasing their first compilation album, Self Made, and will be distributed through his new deal with Warner Bros. Production of the album is handled by Cardiak, Just Blaze, Lex Luger, Lee Major, and many more.  On April 18 the official track listing was revealed.
Prior to the release of Self Made, Vol. 1, five singles were released: "Tupac Back" featuring Meek Mill and Rick Ross was released as the lead single on April 5, 2011. The song peaked at number 31 on the Hot R&B/Hip-Hop Songs and number 22 on the Rap Songs charts. "Pacman" featuring Ross and Pill was released two days later as the second single. On May 10, "By Any Means" was released as the third single, and features Ross, Mill, Wale and Pill. On May 17, "Fitted Cap" featuring Wale, Mill, Ross and J. Cole, and "Ima Boss" featuring Mill and Ross, were released as the fourth and fifth singles, respectively. "Ima Boss" peaked at number 51 on the Billboard Hot 100 in the US, number 20 on the Hot R&B/Hip-Hop Songs chart at number one on the Heatseekers Songs charts. The remix version of "Ima Boss", features T.I., Birdman, Lil Wayne, Ross, DJ Khaled and Swizz Beatz was released to iTunes on February 7, 2012.
After the album's release, the sixth single, "600 Benz" featuring Wale, Ross and Jadakiss was released on June 14, 2011. The song was produced by Cardiak. "That Way", the seventh single featuring Wale, Ross and Jeremih was released on August 30. "That Way" was produced by Lex Luger. The song peaked at number 49 on the Hot 100. The song also appears as the final track on Wale's second studio album, Ambition.
MMG Presents: Self Made, Vol. 1 has received generally favorable reviews from music critics. At Metacritic, which assigns a normalized rating out of 100 to reviews from mainstream critics, the album received an average score of 66, based on 7 reviews, which indicates "generally favorable".
"Tupac Back" contains excerpts and samples of "The God of Thor", written by Gozeay Mills and Billy Bonds, published by Bonds Music, administrated by EMI-April Music, Inc. (BMI) and an excerpt of "1994 Hot 97 Interview: Tupac", spoken by Tupac Shakur.