Oprah Winfrey's Secret to Building A Multi-Billion Company

From a rough childhood to a wealthy successful adulthood, Oprah Winfrey's rags to riches story is an inspiration to many, especially to the black community. Oprah showed that it is indeed possible to become a billionaire, to go from hopeless to incredible success.

At 15, Oprah was earning 50 cents per hour through babysitting. When she was 17, she got the break of her life, a radio broadcasting part-time that paid $100 week. By her 30s, she was already earning $30 million a year through the massive success of The Oprah Winfrey Show. Now at 64 years old, Forbes estimates Oprah's net worth at $2.75 billion.

As one of the most powerful black women in the world and a multi-billionaire, it's no doubt we can learn more than just a couple of things from her life story. What is Oprah Winfrey's secret to building a multi-billion company? Here are some success lessons you can learn from one of the wealthiest black women in the world.

Believe in yourself.

“I always knew I was destined for greatness.” – Oprah Winfrey

Oprah became the first black female news anchor during the early 1970s. In 1976 she moved to six o'clock news. And ten years later, she had her own show that became the number one daytime talk show in America.

She stood tall in the sea of white male anchors. Her greatness overcame the common prejudice in the industry. Oprah wouldn’t be able to do this if she did not believe in herself.

The road to success starts with the path you think you're going in to. If you think you're going to fail, then that's the path you're taking. You must believe that you too are made for greatness. Everything else will follow. You get more motivated. You exert more effort. And ultimately you get better results.

Many businesses and entrepreneurs fail since they think they're always inferior. They try to be something or someone they are not. Be proud of yourself and your efforts. People will naturally recognize what your business offers.

 

Value your customers.

“You have to know the business, but you also have to know what’s at the heart of the business, and that’s the people.” – Oprah Winfrey

Another reason why many businesses fail is that they focus too much on themselves. As I’ve mentioned, believing in yourself is a must but overconfidence can be bad. Your business is not just about you. At the center of your business are your customers or clients.

Serve others and you'll gain more. Create better products and services and you'll have more happy and loyal clients and customers. As Oprah once said, “the surest way to bring goodness to yourself is to make it your intention to do good for somebody else.”

 

Don’t get consumed by the competition.

“Don't waste your time in the race looking back to see where the other guy is or what the other guy is doing. It's not about the other guy. It's about what can you do. You just need to run that race as hard as you can. You need to give it everything you've got, all the time, for yourself." – Oprah Winfrey

I’m not saying that you should not think about your competitors at all but don’t let them be the focus of all your efforts. If you let competition consume you, you might get sidetracked and miss more opportunities and chances offered to you.

Don't let your competitors consume you and bring you down. Instead, surround yourself with good people who can lift you higher.

 

Think beyond the box.

Oprah started out in the radio industry, went on to televised news, then daytime talk shows. In 2000 she launched her very own magazine – O: The Oprah Magazine. She also has her own multimedia production company – Harpo Productions.

Talk about variety. Media is such a diverse industry. You have print, broadcasting, film production and now online media too. Oprah saw all these and turned it into a venture that later on worked well in her favor.

Don’t lock yourself in a box– your business. I’m not saying that you should take on every venture available. You have to be wise. Choose an investment that works best to your favor and that you know will help you grow and expand your business even more.

 

Learn from your failures.

“Turn your wounds into wisdom.” – Oprah Winfrey

Oprah had a past full of struggle but she did not let those events weigh her down. Instead, she credits all those experiences for her capacity to empathize with others, to relate to their pain, which she is most well known for.

Building your own business requires incredible hard work and effort. No one expects you to perfectly nail everything in your first try. In life, failure is to be expected. It’s how you face these negative situations that matter. Will you cower or will you stand your ground?

Treat all failures and negative aspects of your life as an experience, a constructive lesson that can help you as you grow and as you expand your business.

 

There’s no big secret.

“The big secret in life is that there’s no big secret. Whatever your aim, you will get there if you’re willing to work.” – Oprah Winfrey

Arguably the most important lesson we can learn from Oprah. It all comes down to your willingness to work, to exert effort. Like what one popular quote says, a goal without a plan is just a wish. If you’re not willing to work towards your goal, you’ll get nowhere.

To attain and maintain wealth, success, abundance, and freedom, one must exert genuine labor and effort. One will need all the right knowledge he can obtain. You can learn from those who already know the taste of success, like Oprah Winfrey. Check out my blog for more resources on how you can successfully start and grow your business.

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