Shhh… Here’s How Oprah Built Her Enormous Fortune!
Oprah Winfrey is a name to reckon with in the entertainment world. She is an American talk show host, actress, television producer, author, and philanthropist. The media mogul has worked herself up the ladder of success with her charisma, determination, and financial savvy.
How did this girl make the journey from Kosciusko, Mississippi, become the first billionaire black woman? If you are trying to grow your wealth a bit like Oprah’s $2.6 billion net worth, here are some secret theories you may want to know about.
Think Before You Spend
Think before you buy, always, but how often do we do that? If we had stopped and thought about it, we could have saved a lot of money in the long run! Even, if Oprah is a billionaire now, she is and never was wasteful. In her book, she revealed ‘What I Know for Sure,’ that she always thinks twice before buying anything.
Think is it something you want, or you just caught up in the moment. This will help your needs and wants under a scanner, so you do not spend on wasteful luxuries just like that. Wasteful luxuries do not give us the kind of satisfaction we want. You can use a budgeting app that keeps track of your big and small spending.
Break New Ground
Even after being in the field for twenty-five years and been a highly successful business magnate, she never got into a comfort zone. Well, in her book, there couldn’t be one formula. She decided a few years back to break into new territory. So, Oprah stopped doing the show she was doing and launched the Oprah Winfrey Network. She left her comfort zone behind and started focusing on building a new media empire.
She began exercising her talent and branched out into several zones, including publishing books, authoring books, and even launched a radio channel. Oprah discovered new money-making opportunities that would be otherwise impossible if she had not explored new avenues. Pick up something that interests you and do it in your spare time. This would boost your income and support your main job.
Save For A Rainy Day
Fortunes can change at any moment. One day you are on top of your game, in the thick of things. The next moment, your fortune cookies may not roll out the way you envisioned them to be. Oprah understood the fickle nature of fortune and chose to keep a sizeable amount aside to come to her aid when she needs it the most.
So, while it is good to be bold with your financial choices, a little bit of prudence can go a long way in cocooning your future. Oprah, for once, kept aside a fund of at least $50 million! If you want to build a fortune, always keep an emergency fund. This will cushion you against a massive financial thud, say a job loss or a failed investment. You can stow away your money in a high-interest savings account and allow the money to grow.
Learn From Your Mistakes
While Winfrey has seen unprecedented success in her life, her first major break became a failure. She started as a news anchor co-hosting with the inimitable Jerry Turner, it didn’t work in her favor, and she was demoted. That first big failure taught her many things, a lesson she is not likely to forget in a while. This helped her focus on her tenacious side and started her new program, People Are Talking, which went on to run for five years.
Every little failure you encounter in the path to success comes across as important life lessons. Don’t forget the losses that come your way. Be more proactive. It will help you get into a much better space than before. Yes, that tiny little loss taught you so many things that probably a big success wouldn’t have taught you. You may have become too complacent for your good and stopped growing.
So, here are some important life lessons from Oprah Winfrey herself to grow your money and make it big, whichever career you may choose for yourself. As Oprah says, “Create the highest, grandest vision possible for your life because you become what you believe.” Yes, you have to believe in yourself to make it big in this world!
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