Like many seasoned entrepreneurs, Oprah Winfrey views failure as "another stepping stone to greatness.” On her behalf, it has been, and some.
In 1977, decades before she became a billionaire media mogul, she was fired from her job as a reporter at Baltimore’s WJZ-TV. Her boss said she was “unfit for television news.” She was “devastated,” but she didn’t quit.
The “queen of most media” quickly rose from rejection and found her calling in daytime TV. Then came her eponymous talk show and 25 internationally syndicated seasons of success. The Mississippi native later launched her publication club, magazine and TV network. Today, she sits at the helm of a multi-billion-dollar media empire.
“Lady O” is most beneficial called an outspoken TV host, actress and philanthropist, but she’s also a remarkably accomplished founder. The chairman and CEO of Harpo, Inc., Winfrey made history when she became the first first woman to possess and produce her own talk show. She’s now among the wealthiest & most successful business leaders on earth.
There are various inspiring lessons entrepreneurs can study from her remarkable journey from a “poor, deprived ghetto girl” to self-made billionaire. Listed below are three:
Winfrey is a regarded as a big believer in hearing her instincts and honoring them, an art that she credits a lot of her success to. Trusting her gut has helped her stay away from trouble in her personal and professional life, she claims. “I understand for certain whenever your gut has gone out of kilter, trouble awaits,” she wrote in O Magazine. “Your gut is your inner compass. Once you have to check with other people for a remedy, you’re headed in the incorrect direction.”
Throughout a 2011 OWN Network Lifeclass session, she expanded on why she feels it’s vital that you mind to your inner voice: “Hearing your life since it whispers for you first, in order that it doesn’t have to knock you upside the top with a brick or come crashing down you as a solid wall, is among the greatest principles of life.”
Lesson: Absorb your instinctual reactions whenever you’re confronted with a significant business decision. Hearing — and heeding — even the slightest little bit of hesitancy from within may potentially stop you from making poor choices that could impact your important thing, now and in the a long time. Put simply, as Winfrey says, "Follow your instincts. That is where true wisdom manifests itself."
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From her namesake talk show to O Magazine, from Oprah.com to possess Network, Winfrey spent some time working tirelessly to transform her unique name from a stumper — which once prompted viewers to ask “What’s an Oprah?” — right into a household name. To legally protect her brand, she’s trademarked each one of her companies and their many subsidiaries, and her legal team actively pursues those that infringe upon her trademarks. Lately, on, may 19, she filed a federal application to trademark a suite of foods and other goods branded beneath the name “Oprah’s Kitchen.”
Lesson: Strengthen your brand and safeguard it from misuse and dilution by trademarking your business name and logo. Doing this gives you the opportunity to control how they are publicly used and displayed.
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Among Winfrey’s favorite reasons for having her talk show was her famous “Oprah’s Favorite Things,” a sometimes hilariously high-energy segment (take a look SNL parody) where audience members found free goodies of most kinds tucked beneath their seats on set. The favorite segment’s purpose was twofold: First, it had been product placement promotional gold and, second, it enabled Winfrey for connecting with her brand fans in a memorable and public way.
“The surest way to bring goodness to yourself is to create your intention to accomplish good for someone else,” Winfrey, who gives away millions to charity each year, once said. The idea is easy: What encircles comes around. Do good and good will be done unto you.
Lesson: Surprise your visitors and brand advocates with additional value every once in awhile, perhaps by means of coupons, discounts and giveaways. Giving just a little extra can go quite a distance with regards to locking within their loyalty and repeat business.
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