The average producer can get by with a total lack of musical knowledge, but some theory grounding is guaranteed to give you more professional-sounding chord progressions, basslines and hooks. And ...
A normal C major chord is C-E-G, but you can easily change it to E-G-C, called the 'first inversion', or G-C-E, the 'second inversion' - the bass note has changed, but it's still the same chord, with ...