Oprah Winfrey’s Business Wisdom: 4 Valuable Lessons For Entrepreneurs
LOS ANGELES, CALIFORNIA – FEBRUARY 04: Oprah Winfrey speaks onstage during the 66th GRAMMY Awards at Crypto.com Arena on February 04, 2024 in Los Angeles, California.
Have you ever needed a woman business mentor who managed to climb the path of success through her determination and discipline? Look no further than legendary businesswoman Oprah Winfrey!
Today, she continues to inspire many, and her estimated net worth of $2.8 billion is incredibly inspiring.But how did she get here? What are her investment strategies, and what can you learn from them? Keep reading to find out.
1. Opportunity Recognition
Oprah Winfrey at The 29th Critics’ Choice Awards held at The Barker Hangar on January 14, 2024, in Santa Monica, California.
This is a key trait for anyone who wants to succeed in business. In 2015, Oprah saw an opportunity in Weight Watchers, which was a struggling weight loss company at the time.
She took her money and invested in $43 million, which was equal to 10% of the company. Fast-forward to 2018, and her shares’ value had increased tenfold.
Oprah has since stepped down from the weight loss company, but there is no doubt her relationship with the brand impacted their success.
2. Invest In Yourself
Oprah Winfrey is a prime example of the benefits of investing in personal and professional development throughout one’s career. One way she did that was by surrounding herself with mentors like Maya Angelou.
“Meeting Maya on those pages was like meeting myself in full. For the first time, as a young black girl, my experience was validated.”
Oprah was able to build a network and gain knowledge that helped her contribute to her success.
“I think mentors are important, and I don’t think anybody makes it in the world without some form of mentorship,” Oprah said. “Nobody makes it alone.”
Not only should you work on developing your talents but also connect with the right people, especially those who inspire you. Prepare yourself more every moment and apply everything you learn whenever possible.
Maya Angelou and Oprah attend Surprise Oprah! A Farewell Spectacular at the United Center on May 17, 2011, in Chicago, Illinois.
3. Focused Growth Strategy
Oprah Winfrey and her team approach their work like a horse race while blocking their side views “with blinders” so they can focus and make their show No. 1.
“The greatest lesson of any competitor or anybody who’s in business…You can only run your own race,” Oprah explained on the podcast Making Oprah.
So, don’t focus on your competition, because that takes away your energy and you’ll end up scared. Even when they experienced a dip in rating, Oprah would never follow what the competitors were doing.
Simply focus on doing your best in your projects and improving your skills.
As a budding entrepreneur, it’s easy to feel overwhelmed by life’s setbacks, but focusing on these Oprah-inspired tips could help make the journey to reaching your goals easier.
