Successful hip-hop artists know reaching the top of the industry is about more than just riding in Lamborghinis, rhyming lyrics over bass-heavy beats and showcasing bling for paparazzi cameras. Profitability and economic success in the rap industry means being the CEO of your personal brand.

Selling Kanye West or Jay-Z nowadays means something completely different than selling The Notorious B.I.G. or 2Pac 20 years ago. Back then it was only about the music. Now, it is so much more—vodka, clothing lines, sports teams, headphones and other products. Today’s hip-hop elite build business empires that boost their star power and bank accounts.

To launch such a wide range of products, these chart-topping stars follow one of our 10 Ways to Extend Your Brand: Leverage a Celebrity Lifestyle. This brand extension strategy creates new celebrity-endorsed products in order to attract aspiration-minded consumers. In other words, Jay-Z and Kanye can put their names on just about any product that helps fans live like they do.

Kanye’s brand extension success stems from what he knows best besides music: style. Recently, Nike released the Air Yeezy II — Kanye West’s second pair of custom-designed shoes. Not only did Kanye fans and shoe aficionados pay the $245 price tag, but they also camped outside boutique shoe shops to even have a chance to purchase a limited pair. One pair even sold for more than $90,000 on Ebay.

But being a celebrity doesn’t make you immune from product flops. Kanye’s shoes, albums and concert ticket sales may be strong, but fashionistas jeered at his 2012 spring line for women called DW. He went beyond his expertise in men’s style, and his stab at high fashion design failed to impress many.

As long as Kanye focuses on extending what he knows best — he was ranked no. 1 in Complex’s list of the most stylish celebrities of 2012 — he will continue to build his personal brand. But for a golden example of hip-hop artist gone branding legend, Kanye should look to his recent musical co-collaborator: Jay-Z.

When people think of Jay-Z, they think of his illustrious hip-hop career and his dedication to his hometown of Brooklyn. He leverages this Brooklyn swagger as he continues to build his empire in two forms: appreciation for the neighborhood that gave him his start and sophistication in urban style and apparel.

Jay-Z’s love for Brooklyn logically extends to the rejuvenation of an NBA franchise that was struggling to stay afloat in New Jersey. As a minority part owner of the now Brooklyn Nets, Jay-Z revitalized the team to become the NBA realization of his own personal image. Jay-Z even designed the black and white Nets logo — reflecting his “from the streets of Brooklyn” persona. In fact, many products that leverage a celebrity lifestyle feature a design element representative of the celebrity.

Like Kanye, Jay-Z’s brand also revolves around fashion. The mogul’s top-notch style — he ranked no. 6 in that same “Complex” list — comes with an expensive price tag. Rocawear —Jay-Z and his long time buddy Damon Dash’s affordable luxury clothing line — is the “destination brand for street savvy consumers.” Jay-Z’s clothing brand allows people to dress just like him but at a reasonable price. The new Barclay’s Center, home of the Brooklyn Nets, will be home to the first flagship Rocawear store.

But Kanye and Jay-Z are not the only hip-hop artists doing the industry right. Sean “Diddy” Combs — the wealthiest hip-hop artist worth $550 million — has been extending his brand, too, with his Ciroc vodka deal and his two personal clothing labels: Sean John and Enyce. And, of course, there is Dr. Dre, the hip-hop artist and producer who helped Eminem get on his feet, who’s headphone line Beats by Dre have blossomed to be one of the most premier headphones on the market.

Hip-hop artists have always been masters of the rhymed word, but as of late, they have become master of the personal brand, too.