Dietrich Mateschitz name may not ring any bells to you despite using his product so often. Even googling his first name might not lead you to him. That’s because despite creating one of the iconic brands in the modern day and owning multiple sports team including a formula one team Dietrich keeps a low-profile for himself. So it will be interesting to know about him and what you can learn from him before reaching for your next can of Redbull
Steve Jobs once said, “I’m convinced that about half of what separates successful entrepreneurs from the nonsuccessful ones is pure perseverance.” Dietrich did not have the luck or resources some of the modern entrepreneurs like Larry page or Zuckerberg enjoyed when they started. It took him ten years to graduate from Vienna University with a marketing degree at the age of 28. After graduation, He took up a normal 9-5 marketing job for a living. But his perseverance soon started to pay off. Dietrich began to move up the ladder quickly and worked with companies like Jacob and Unilever before becoming director of marketing at Blendax. It was during this period he started Red bull with Chaleo Yoovidhya, a Thailand entrepreneur. You can see examples of his perseverance although the growth of the company whether it is overcoming the initial struggles or trying new marketing strategies.
See beyond the ‘wall’
From strapped budget to lack of customers, entrepreneurs often ‘hit the wall at some point of their journey. But it is the ability to see beyond the ‘wall’ that separates the true ones from the crowd. Despite his enthusiasm, Redbull was not a success initially when it launched. People hated the taste as it is too sweet. Within two years the company lost over one million dollars. However, Dietrich had the vision to see beyond the current struggles. Despite not being a success in Austria He decided to expand his market to countries like UK, Germany, and Switzerland and rest is history
Bringing your identity into your business
Perhaps this is the most important lesson you can learn from him. If you have to be successful as a business leader, you have to be able to bring your unique identity into what you do. Being a lover of extreme sports, Dietrich was successful in bringing his passion for extreme sports into his product and create a world-class marketing strategy out of it. Redbull is so focused on Creating things that people care about, even selling drink comes second. Today red bull sponsors hundreds of sports events across the globe and holds many world records including Redbull stratos jump.