Oprah Winfrey's 'OWN' Flopped Startup: Lessons for Entrepreneurs to Bookmark
Bangalore: Famous for her highest-rated program of its kind ever in history, the inspiring Oprah Winfrey has made the world look at life’s problem as positive opportunities to learn something new and then share the wisdom with others.
She has also inspired numerous entrepreneur considering that she has she never had any help from venture capital funds and the public financing markets to propel her first company's growth. Going the old-fashioned way, she funded growth through confident business deals and careful cash flow management.
Her latest venture, a television network OWN, which she started in February 2011 also has inspiring moments in spite of failing to perform. Here is a list of lessons to be learnt from OWN’s first month in business as compiled by entrepreneur.com:
5. Moonlighting creates madness
It is good to plan and develop an idea while working on your day job but is never wise to start facing customers without being 100 percent focused and attentive towards your business. Small problems eventually become big and cost too much if the primary decision maker is not present to make timely adjustments.
Winfrey has stated in public that she regrets launching OWN while “The Oprah Winfrey Show” was still on the air.