Oprah Winfrey's 'OWN' Flopped Startup: Lessons for Entrepreneurs to Bookmark
4. Brand consistency matters
People, who were passionate about the Oprah brand of self-respect and personal enrichment found themselves confused after watching OWN’s first few months on the air. They found that OWN was not Oprah. The reality programs on OWN filled with celebrities looked like a competition of network Oxygen.
If your first customers don't know your startup's product or service really stands for, they won't come back. Worse, they will share their disappointment with their friends. If OWN has to succeed, it needs to create a brand identity and programming that is perfectly aligned with Oprah -- or entirely separate from Oprah.
3. Make it great
Today Winfrey has to inspire her team to be even better than their best. They have to be innovative, imaginative and completely original in order to capture lasting audience attention. Delivering something that is really new and remarkable is the only way any entrepreneurial initiative can win lasting market share against competitors.
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