Rihanna was the first female billionaire to perform a Super Bowl half-time show.

What you probably don't realize is most of her money didn't come from music.

Here are 5 lessons any entrepreneur can learn from the Barbadian icon: Image
In 2017, Rihanna launched Fenty Beauty, a brand now worth >$2.8 billion.

Fenty's success is mindblowing. Some stats:

• Rihanna's stake is worth $1.4 billion
• $550 million in sales in Year 1
• Doubled revenue in 2022
#fentybeauty has 2.2 billion views on TikTok Image
So how did Fenty get so big so quickly?

And how can you apply these learnings?

Keep reading for:
1) Power of deal structure
2) What makes creator brands successful
3) Build for large, forgotten audiences
4) Create a movement
5) Be okay with strikeouts & singles
Rihanna launched Fenty Beauty at 29.

The cosmetics brand was developed with Kendo, LVMH's incubator, and first went on sale in LVMH-owned Sephora stores.

LVMH paid ~$10 million to do the deal & ownership of the brand is split 50% LVMH, 50% Rihanna. Image
But before we talk about the product, let's discuss the deal structure.

Because of her equity upside in Fenty, nearly 80% of Rihanna's $1.8 billion net worth comes from the beauty brand.

Keep reading for a mind-blowing comparison... Image
Take Nike's Jordan Brand.

Since 1984, his rookie year, Michael Jordan has pocketed 5% of all Jordan sales.

That's $10-12 per shoe.

In 2022, Jordan did $5.1 billion in revenue, earning him ~$256.1 million.

MJ is doing just fine, but imagine if he had Rihanna's economics! Image
Okay back to RiRi.

Why did Fenty 📈 when other creator brands 📉?

3 words: creator-market fit.

Rihanna is a fashion icon.
- 2011: announced fashion venture with Armani
- 2014: named Creative Director of Puma
- 2015: named new face of Dior

Fenty is authentically Rihanna. Image
But here's a spicy take.

Fenty would have succeeded regardless of Rihanna.

Because it's a 10x product for a large, forgotten audience.

Fenty disrupted an underrepresented cosmetics industry by launching products with 40+ shades.

The brand finally offered "Beauty for All." Image
Fenty didn't just solve a big problem.

It created a global movement: "The Fenty Effect."

Following its "Beauty for All" campaign & launch of inclusive makeup, Fenty created a chain reaction of inclusive beauty.

CoverGirl, Dior, and others began carrying 40+ shades of makeup. Image
If you're reading this & thinking: "Everything went right, Rihanna must have caught lightning in a bottle."

You would be wrong.

Rihanna has been trying her hand at business since she launched her first fragrance, Reb'l Fleur, in
January 2011.

Don't believe me?
'05: starts Westbury Road
'05: deal w/ Secret
'11: face of Nivea/Vita Coco
'12: first TV show
'13: MAC collab
'15: co-owner of Tidal
'15: starts Fr8me, beauty agency
'16: Puma collab

She's taken many at-bats, some strikeouts, some singles, all of which informed Fenty's success. Image
Want more?

1) Follow @businessbarista for more fascinating business case studies.

2) Check out The Crazy Ones, where @jspujji & I analyze Rihanna's entire business career & lessons entrepreneurs can learn:

Listen: link.chtbl.com/DYlut_VA

Watch: bit.ly/3Eq5Q7K

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More from @businessbarista

Feb 11
What ad copy should I test for The Plunge?

Key details:
- Axe-throwing inspired backyard game
- Throw plungers
- Set up in 60 seconds
- Can be played anywhere
- 2-8 players

Will give shoutout to anyone whose ad copy we use.
Favorites so far:

In 60s you’ll be throwing plungers like axes with up to 8 friends. Create memories that stick.

This game is the sh*t!

Backyard axe-throwing, without the risks of a visit to the ER.

Toss it like an axe. Stick it like a boss.
Some ideas:

Be the sh💩t. Take the plunge.

Set up in 60 seconds. Throw plungers. Score points.

The world's sh*ttiest game.

Fast setup. Simple Rules. Play with anyone, anywhere.

The #1 axe-throwing inspired backyard game.
Read 4 tweets
Feb 9
If you want to crush an investor update, use this format:

1) Summary
- Financials (rev, burn, runway)
- OKRs/Rocks/Goals (+ how you're tracking)
- State of the biz 1-liner

2) Asks for investors
- <3
- be specific
- in order of priority

3) Shoutouts
- Investors are competitive
THAT IS IT. Should be <5 minutes.

If you want to include nice-to-reads, here are options for what could come after:

1) Commentary on each OKR/Goal OR
2) Function-by-function breakdown
3) General updates + Wins + Losses + Month ahead
Today's Crazy One's episode is a 20-min breakdown on How to Crush an Investor Update. Check it out:

Apple: bit.ly/3Xo3fC2

Spotify: spoti.fi/3ln2HPD
Read 4 tweets
Jan 30
Today's journaling prompt is about understanding the foundation of every relationship you have. Plz steal.

Prompt: Which type of attachment style do you have? Secure. Avoidant. Anxious. Or Disorganized.

Descriptions of each below...
"Secure attachment is defined by an ability to build healthy, long-lasting relationships"

Signs:
- can regulate your emotions
- easily trust others
- comfortable being alone
- high self-esteem
- emotionally available
- ability to seek emotional support
- easy to connect with
Avoidant attachment is "defined by failures to build long-term relationships with others"

Signs:
- avoid emotional or physical intimacy
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- hard time trusting people
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Read 5 tweets
Jan 24
I have a 3-step plan to dethrone Shark Tank.

Read on & hit me with feedback...
I love Shark Tank.

I've watched religiously for 10+ years & I think it gets a lot right.

1) Gives platform to early-stage founders
2) Strong intrigue with big names putting big $ to work
3) Good storytelling of entrepreneurs' backstories
4) Makes startups feel approachable
But Shark Tank also misses the mark in a few big ways:

1) Not being strategic with judges
2) Not adapting to cord-cutting
3) Not making the audience part of the show
4) Monetizing in multiple ways
Read 7 tweets
Jan 18
I'm building the digital version of Shark Tank on social.

It's called 60 Second Startup.

It's been good, but it's missing an X factor to become massive.

I have a few ideas to add that X. Lemme know what you think...
Format 1: Bracket-style tourney

- 16 startups
- head-to-head pitches
- audience votes on who wins & moves to next round
- winner of tourney gets $10,000 investment from me
Round of 16: 60 Second Startup (general head-to-head pitch)
Round of 8: Product Pitch (head to head)
Round of 4: Monetization/market Pitch (head to head)
Finals: What you'd do with the $ pitch (separate)
Read 6 tweets
Jan 15
I'm this close to launching The Plunge.

It's axe-throwing without the hospital visit.

Add yourself to the VIP list below to be notified when it goes live.

I'll randomly pick 1 person from this list at launch to get the game for free.
Join the list: bit.ly/theplungevip
interesting. when i make phone number optional on the form (version required), conversion rate skyrocketed
Read 4 tweets

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