The rise of Oprah Winfrey as a figure in the media empire
Winfrey began her television career at the age of 19 when she dropped out of college and began working at a CBS television station in Nashville. Growing up poor and having a difficult childhood did not deter Oprah from establishing a successful business empire. Forbes estimates Oprah Winfrey’s net worth to be around $2.5 billion, making her one of the most wealthy women in the United States of America. Oprah is a director/producer, a television host, an entrepreneur, and an author, among other things. She is extremely successful in what she does, and she has learned some valuable lessons along the way that she is willing to share with others.
Here are some of the lessons she shared
- Adjust your attitude- According to Oprah, “the greatest discovery ever made is that a person can change their future by merely adjusting their attitude.” She believes that most successful people reach a point in their careers or financial plans where they reach a self-imposed limit. Do not attribute your current behaviors to past successes; what got you there may not get you there again. It is prudent to continue evolving as life does. Everything else will follow once you have adjusted your outlook on life; life is not static, so you cannot afford to be.
- Spend your money wisely- Oprah writes in her book ‘what I know for sure,’ “I hope the way you spend your money is in line with the truth of who you are and what you care about.” Spending to impress others should not come at the expense of what matters most to you or what you require. Additionally, she asserts that maintaining a healthy balance of wants and needs is critical for effective saving, budgeting, and retirement planning. If you frequently lament your inability to save or meet your basic needs, you are most likely living above your means. Find less expensive alternatives to your high-priced purchase and reduce your spending. This is not to say that you cannot splurge on occasion, but you must exercise restraint.
- Protect what you care about- Most of us care about our loved ones, whether they are our children, friends, spouses, or someone who has had a significant influence in our lives. We must protect them from financial hardship, particularly if you are the breadwinner. If you are the breadwinner, you must have a backup plan in place in case something should happen to you. We don’t like to think about death, but it is prudent to have a life insurance policy and emergency savings funds in place. A backup financial plan is a necessary component of any successful financial strategy.
- Confront Goals with Patience- Oprah Winfrey claims she didn’t succeed right away, but she didn’t let that deter her. She dabbled in various fields before becoming a household name. She also claims that it makes no difference how high you rise, you’re bound to make a mistake. The only way to avoid stumbling is to stop raising the bar, and she says the key to success is to raise it immediately after a fall.
Oprah is one of the world’s wealthiest self-made women and the world’s first black woman billionaire. She has come a long way, and her journey has not been without setbacks, but she is now a truly inspirational role model.