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- The Business of Rob Dyrdek: How He Built His $100 Million Net Worth
The Business of Rob Dyrdek: How He Built His $100 Million Net Worth
Business lessons from the MTV sensation
Robert Stanley Dyrdek is one of the biggest celebrities in the world, which helped him build his +$100 million net worth.
He is a legendary figure in the world of skateboarding.
He's also known for his larger-than-life personality and entrepreneurial spirit.
But did you know that he got his start in a small town in Ohio, where he first fell in love with skateboarding as a kid?
That's right, Rob was a little skater dude from the Midwest with big dreams and even bigger tricks up his sleeve.
In this piece, we will show you how he transitioned from a reality TV personality to a businessman worth over $100 million.
Let's do it.
How did Robert Dyrdek Build His Wealth?
Robert Dyrdek has four main income streams:
Rob Dyrdek got his first sponsorship deal at the age of 12, becoming a professional skateboarder.
His mom, Patty Dyrdek, encouraged him to pursue his dream, and he founded his first business at the age of 16.
It was a skateboard company Alien Workshop.
The talented skater then created his own Street League, called Street League Skateboarding.
It was a sport where 25 professional skaters competed for money.
The league was the most lucrative skating tournament in history, with over a million-dollar prize pool.
Rob Dyrdek secured the first major sponsorship deal with DC shoes.
He impacted the company's direction and success as a skateboarding brand.
He got a royalty deal with the DC shoe brand for using his designs and also contributed to The Street Plaza design of the DC headquarters.
While Rob Dydrek's Street League Skateboarding was awesome, his shoe deal was much better.
According to Rob, he was making between $50,000 to $300,000 out of that deal.
Rob Dyrdek's TV debut was on the MTV show "Rob and Big," where he could show his skating skills while building his reputation as a content producer.
He would also frequently advertise his DC shoes which got the company over $300 million in revenue in over 3 years.
The reality television star got around $60,000 for each episode of the show.
After the show ended, MTV got Rob Dyrdek another show called Rob Dyrdek's Fantasy Factory.
The premise was simple - Rob created his ideal fantasy factory to skate.
That fantasy factory boosted his street cred, and the television personality got around $100,000 per episode he produced.
He also had one other show, Ridiculousness, where he earned $150,000 per episode.
Rob Dyrdek is a big player in the VC game with his company, Dyrdek Machine.
The American entrepreneur has created an incubator for entrepreneurs.
His strategy is simple - he works with brands, providing a clear exit strategy or a 50/50 relationship.
He's the owner of the Dyrdek Machine incubator.
With that company, he has co-founded 11 other companies.
Dyrdek Machine is the holding company of Rob's businesses.
It's the most successful of his entrepreneurial ventures.
So far, Dydrek Machine has generated $550 million over 6 exits.
He owns between 20-75% of the companies he invests in, so he owns around 25% of the fund.
Rob Dyrdek co-founded Stance Stocks in 2015, owning 20% of the company.
He also owns a stake in the UFC.
Rob also owned a production company called Superjacket Productions.
Superjacket Productions got acquired in 2019.
Business Lessons from Rob Dydrek
Rob Dyrdek's success has been nothing short of spectacular.
The American entrepreneur is one of the richest skateboarders in the world.
He has succeeded in countless entrepreneurial ventures.
Rob went from a TV star to a successful VC investor.
Here are three business lessons we can learn from Robert Dyrdek's success:
Be Passionate About Your Business
Rob Dyrdek's passion for skateboarding is contagious. He's been in the industry for decades and has built an empire around it.
He launched a skateboarding brand, Alien Workshop.
Then built the Street League Skateboarding (SLS) competition.
Rob has created an entire ecosystem around his passion. And that's what makes him successful.
So, the first lesson we can learn from Rob is to be passionate about our business.
When we care deeply about what we're doing, we're more likely to put in the hard work, time, and resources to make it successful.
Plus, passion is contagious. When your customers see how much you care about your business, they're more likely to become passionate about it too.
Embrace Failure and Learn From It
Rob Dyrdek is not immune to failure. In fact, he's failed several times in his career. But instead of giving up, he uses his failures as learning opportunities to improve and grow his businesses.
Take his "Wild Grinders" animated series, for example. It didn't take off, but instead of dwelling on the failure, he used what he learned to create the wildly successful Ridiculousness show on MTV.
The second lesson we can learn from Rob is to embrace failure and learn from it. Failure is not the end of the world. It's an opportunity to learn and improve.
And if Rob can turn a failed TV show into a hit, then we can all use our failures to achieve success too.
Build a Strong Brand
Rob Dyrdek's personal brand is strong. He's known for his fun and energetic personality, and he's leveraged that to create engaging content and build a loyal following.
But his personal brand also helps establish his businesses as reputable and trustworthy. When people see Rob's name attached to a business, they know it's going to be good.
The third lesson we can learn from Rob is to build a strong brand. A strong brand sets you apart from your competitors and helps establish trust with your customers. It's not just about a logo or a tagline.
It's about the feeling people get when they think of your business. So, take a page from Rob's book and build a brand that people can trust and love.
In conclusion, Rob Dyrdek is not just a skateboarding legend or a TV personality. He's a successful entrepreneur who has learned valuable business lessons throughout his career.
By being passionate about our business, embracing failure, and building a strong brand, we can all achieve success too. And who knows, maybe we'll be as fun to be around as Rob Dyrdek.
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