OWN, produced by Discovery and Winfrey's Harpo Productions, replaced the former Discovery Health Channel when it premiered on January 2011.
Winfrey opened up about the problems faced by OWN during her appearance today (April 2) on CBS This Morning, which is co-hosted by her best friend Gayle King and Charlie Rose.
"The idea of creating a network was something that I'd wanted to do," Winfrey shared. "Had I known that it was this difficult, I might have done something else."
She emphasised: "I didn't think it was going to be easy but I did not know - if I had known what I knew now, I would have made different choices."
The talkshow host also said that if she was writing a book about the whole OWN experience she would call it 101 Mistakes, listing her "top mistakes", such as launching the network when they weren't ready.
"I would have probably waited until I actually finished the Oprah show," Winfrey revealed.
Although Winfrey admitted that she had thought about quitting the network, she insisted she would never walk away from it.
"I'm a very driven person," Winfrey expressed. "Also I believe that I am here to fulfil a calling. That, because I am a female, who is African American, who has been so blessed in the world, there is never going to be a time to quit.
"I will die in the midst of doing what I love to do and that is, using my voice and using my life to try to inspire other people to live the best in theirs."
Winfrey also described the termination of 30 employees in her company last month as "the most painful thing for her".
Watch the full interview with Oprah Winfrey on CBS This Morning below: