The author of this article was able to hone in on a few key points we can learn from Oprah’s long and successful career that are applicable to small business owners and nonprofits alike.
“Focus on the brand” – in other words, do what you do best and don’t get distracted or misdirected. It’s important as a business and as a nonprofit to determine your overall vision/mission and then specifically define how you are going to accomplish your mission. This may be through specific products or programs all of which should be evaluated regularly to ensure that they are effectively accomplishing the goals you have set out.
“Picking winners” – for small businesses and nonprofits this may come in the form of hiring well. When you work on limited resources your people are your number one asset, and your most expensive asset. Choose them well. Don’t hire someone who is not a good fit for a specific position just because you like them. Don’t hire someone just because they are your friend or will work for cheap. Invest in finding the right people and invest in keeping them. Your people may be what make or break you.
“Know when to fold ‘em” – for small businesses and nonprofits this applies to the products and programs you are producing. If you find that you have been taken off track somewhere along the line, perhaps by a funding source or client demands, redirect and do not be afraid to end a program or stop producing the product. This goes back to doing only what you do best. Let other businesses and organizations do the other stuff.