Reading this weekend about Oprah Winfrey's challenges with OWN, her newish network bankrolled by Discovery, reminds me that starting a new venture isn't easy.
Even for Oprah.
Where am I going with this? Even with a mega-rich mega-brand like Oprah and $300 million-plus in funding from Discovery, she's struggling. She's used to being her own boss -- and still owns 50 percent of OWN network-- but the shakeup this week reminds me that even Oprah is willing to do what it takes to find traction and make OWN a success. Money can't do it all. Read the story here.
Most of the entrepreneurs I talk to would love to have even $100,000 of her wealth to get their business going. But they share a few powerful characteristics with her: passion for their business and the entrepreneurial energy to do what it takes.
I am always reminded about South Florida energy and passion about this time of year, with the 14th annual Miami Herald Business Plan Challenge entry period just closing. This year: 200+ entries in a contest without cash prizes! (I wish we could give cash, but we're a contest for fun and education, exposure and connections). It's great to see such an outpouring of innovative ideas -- and many seem to have the business plans behind them to back them up.
The entries reflect the diversity that is South Florida: with everything from concepts for the film/TV/music space (this was a very popular category this year -- watch out, Oprah), yummy culinary concepts as always (watch out, Michelle Bernstein) and fashion to lots of plans in the international trade area, publishing and new media (watch out, Herald), a fair share of green business and social entrepreneurship concepts, plenty of mompreneur ideas, and tech, tech, tech (tech IS alive and well in South Florida).
If you entered the Challenge and did not receive an email confirmation, email me at ndahlberg@miamiherald.com so I can make sure your entry was received. Read more about what is next in the Business Plan Challenge contest here. Follow me on Twitter @ndahlberg for more contest developments.
Congratulations, South Florida entrepreneurs. You are all winners.