A Man with the Entrepreneurial word.

                  Obike ihechiluru

Ability is what you are capable of doing. Motivation determines what you do. Attitude determines how well you do it.
Success in business is not an illusion, it is a realistic possibility!
Life is a package of "how to's".

Obike ihechiluru is a multi-gifted motivational speaker, pastor, Author, Entrepreneur and life coach.
He is a regular conference speaker who teaches on the subject of faith, leadership, Business, Marriage and life success.
He is a graduate of Geology (university of Nsukka) and holds an MBA in marketing from Imo State university, Owerri.
The general overseer Living Ways Assembly, Aba, Abia state, Nigeria.

A man with the word that will turn your perspective towards Entrepreneurship positively.

I will be sharing more of his power packed Entrepreneurship key to your Financial destiny.

Keep visiting!
www.Viconwealth.blogspot.com

Top Nigerian female singer.

Tiwa Savage

Background information
Birth name Tiwatope Savage
Born 5 February 1980 (age 34)
Ikeja, Lagos State, Nigeria
Genres Afropop, R&B, Soul
Occupations Singer-songwriter, recording artist, performer, actress
Instruments Vocals
Years active 2010–present
Labels Sony/ATV Music Publishing, 323 Entertainment, Mavin Records
Associated acts Don Jazzy, Dr SID, Banky W., Wande Coal, D'Prince, Flavour N'abania, Iyanya, P-Square, Sarkodie, Waje, Leo Wonder, Iceberg Slim, General Pype, Wizkid, Patoranking
Website officialtiwasavage.com
Tiwatope Savage-Balogun (born 5 February 1980), known by her stage name Tiwa Savage, is a Nigerian singer-songwriter, recording artist, performer, and actress. She is currently signed to Sony/ATV Music Publishing and Mavin Records.The first step toward success is taken when you refuse to be a captive of the environment in which you first find yourself. - Mark Caine] She co-wrote the track "Collard Greens & Cornbread" on Fantasia Barrino's Grammy-nominated album Back to Me.[5] Savage was featured on Solar Plexus, a compilation album that was released a day after the establishment of Mavin Records. On 3 July 2013, she released her debut studio album Once Upon a Time. Savage sings in English and Yoruba. As a singer, her achievements include one MTV Africa Music Award, one The Headies Award, one Channel O Music Video Award, one Nigeria Music Video Award, and two City People Entertainment Awards, among others.

Music career

Early life, career beginnings, and songwriting
Tiwa Savage was born in Lagos, Nigeria. Her family relocated to London from Nigeria when she was 11 years old. Whilst attending high school, she was a trombone player for her school's orchestra band. Savage had a healthy upbringing; she grew up in a multicultural setting due to her migration from Nigeria to the United Kingdom, and from the United Kingdom to the United States. After graduating with a degree in Business administration from the University of Kent, Savage started working at The Royal Bank of Scotland.[8] She did backup vocals for George Michael at the age of 16, and lent vocals to other musicians such as Mary J. Blige, Chaka Khan, Blu Cantrell, Emma Bunton, Kelly Clarkson, Andrea Bocelli, and Ms. Dynamite, among others. Furthermore, she has performed on stage with Sting, 50 Cent, The Black Eyed Peas, Eminem, Robbie Williams, and Destiny's Child, to name a few.


             
      

Savage enrolled at Berklee College of Music and graduated with a degree in professional music at the age of 27. While reminiscing about her experiences there, she said that she was motivated by the drive and passion of the younger students. She also said that she needed the school's atmosphere. Savage spoke briefly on the challenges musicians face during their transition from backup to lead, and said that artists face more scrutiny when their performances are mediocre. Her business background has helped her fully understand the scope of the Nigerian music industry. Savage spoke about her business background and said that her level of professionalism does not make her susceptible to deception.

In 2006, Savage participated in the UK edition of The X Factor and advanced to the final 24 while attending the aforementioned music school. While participating in the popular music competition franchise, she had difficulty dealing with the limelight. "You have to always realize that people are watching. When I got the bad news that I wasn't getting through [to the final it was a really painful time. But you still have to learn how to hold that until you get home. Because you don't want to just let everything out. People admire you and want to see that you're strong; they don't want to see you breaking down" said Tiwa.

In 2009, Sony/ATV Music Publishing signed Savage to a music deal. The deal solidified her to write for Babyface, Kat Deluna, Fantasia Barrino, Monica and Mýa. She has received songwriting credits for her contribution to Monica's soul-tinged ballad "Catch Me". Moreover, her collaboration with Fantasia on the song "Collard Greens & Cornbread" earned the American recording artist a Grammy nomination in 2010. Savage wrote Jaicko's "Oh Yeah", featuring Snoop Dogg, and Kat Deluna's "Push Push", featuring Akon and David Guetta. In as much as she likes writing for other artists, she finds writing for herself more rewarding. Savage performed background vocals on Whitney Houston's album I Look to You (2009).

In December 2011, she co-hosted the second season of Nigerian Idol alongside IllRymz. Moreover, she made her film debut with Joke Silva and Ireti Doyle in the stage adaptation of For Coloured Girls. Savage became the first African female artist to be associated with the Pepsi brand after signing an endorsement deal with them.

Humanitarian work and endorsements
Savage has been involved in many youth empowerment and breast cancer screening projects across Nigeria. Savage helped raise money for an organisation that build schools in her hometown. In July 2013, Savage signed an endorsement deal with MTN Nigeria allegedly worth N30 million.She also signed endorsement deals with Pepsi, Forte Oil, and Maggi.

Challenges faced in the Nigerian music industry
When Savage stepped onto Nigeria's musical landscape, she didn't know what to expect. Moreover, she received a lot of ridicule and hostility from people who believed she wouldn't make it. She said that numerous people tried to discourage her from settling in Nigeria. Moreover, people told her that she wouldn't be welcome as a female singer. Furthermore, they said that she wouldn't be able to share the same stage with the likes of Tuface and Wizkid. Savage didn't allow people's negative connotation of her discourage her from doing music. She released her debut single "Kele Kele Love". The song made its way to the top of several Nigerian music charts. Savage's sultry tones, pulsating dance moves, and electric stage presence immensely propelled her to the top of the Nigerian music industry.

323 Entertainment/Mavin Records
Savage established her own label imprint, 323 Entertainment, with her manager and husband Tunji "TJ Billz" Balogun whom she got engaged to on 5 February 2013. She joined Don Jazzy's Mavin Records in 2012 after the label she co-owns teamed up with the executive producer. She was one of the lead artists on Solar Plexus, the record label's first compilation album.

Savage speaking to Vanguard about her debut studio album
This album is straight from my heart and it's something that I've worked so tirelessly for. A lot of people wondered why it took me so long a time to drop my own album. That's because we had to go through a lot of legal processes to clear some of the samples that we used, and that took us some months. Also, we wanted to work with notable producers outside the shores of the country like Oak who produces Rihanna. So, we had to work around his schedule and waited for them to have our time. But this album is something that I really took my time with because I didn't want it to be the usual Nigerian album that contains just party tracks from the beginning till the end

2010–2013: Once Upon A Time
Main article: Once Upon a Time (Tiwa Savage album)
Savage started recording her debut studio album in 2010. She networked with Berklee alumni Keith Harris, Derek Pate, Scott Coleman, Radar Ellis, and Darien Dorsey while attending the aforementioned music school. During her interview with Brenda Pike, she said that she collaborated with Chuck Harmony, Warren "Oak" Felder, and producer So Sick (Da Grin), among others. Moreover, she said that her debut album will include records in her native tongue.

Savage was featured on Flavour N'abania's "Oyi Remix" in 2012. Prior to collaborating with Flavour, she recorded her own version of the song. In celebration of Nigeria's 52nd independence, Savage performed her rendition of "Arise, O Compatriots" for Ndani Sessions. In November 2012, Savage collaborated with Waje, Praiz, Timi Dakolo and Pamela Egoh on the Ovation Red Carol Theme Song "Higer".

In May 2013, Savage held an album listening party at the Wheat Baker Hotel in Ikoyi. She revealed the entire tracklist of the album and announced Iceberg Slim, Sarkodie and General Pype as the featured artists. On 3 July 2013, she released her long awaited debut album, Once Upon a Time, to the Nigerian public. The album was released on iTunes a day before the Nigerian release. Savage named the album Once Upon a Time to portray the positive stories about her life. She also said that she wanted to motivate other upcoming artists by telling them that, once upon a time, she was a little girl in Isale Eko who dreamt of being a star. The album includes political songs like "Middle Passage" which is about the struggles of African men in a foreign country.

2014–present:Releases, MTV Africa Music Awards performance

Tiwa Savage performing at the MTV Africa Music Awards 2014
On 31 January 2014, Savage released "Love in Yellow", a promotional single meant to celebrate Valentine's Day 2014. The song, which has a retro R&B and Funk sound, was produced by Spellz.Savage was featured on "Turn It Up", a song by one of Mavin Records' newest signees Reekado Banks. The song was released on 21 February 2014 and was produced by Don Jazzy. On 1 May 2014, Mavin Records released "Dorobucci" featuring Savage, Don Jazzy, Dr SID, D'Prince, Reekado Banks, Korede Bello, and Di'Ja. The song, which was produced by Don Jazzy, is the record label's first collaborative release since the release of the Solar Plexus album in 2012.

On 19 May 2014, Foston Musik premiered Patoranking's "Girlie 'O' Remix" featuring Savage. The song was produced by WizzyPro. The music video for the song was shot and directed in London by Mr Moe Musa. It was uploaded onto Patroranking's Vevo account on 20 May 2014, at a total length of 4 minutes and 7 seconds. On 7 June 2014, Savage performed at the 2014 MTV Africa Music Awards alongside Miguel, Flavour N'abania, Davido, Mafikizolo, Uhuru, Oskido and Professor.

On 27 May 2014, 323 Entertainment and Mavin Records released the music video for "Wanted", a song from the Once Upon a Time album. It was directed by Moe Musa in London.The release of the video prompted a huge public backlash across various social networking sites, including Facebook, Twitter, and YouTube.

In June 2014, Savage collaborated with Mi Casa, Lola Rae, Sarkodie, Diamond Platnumz, and Davido on a song for DSTV's Africa Rising campaign, which was designed to inspire Africans to partake in community-based social investment projects. The music video for the song, released on 24 June 2014, was shot and directed by South African production house Callback Dream.
The aforementioned artists performed the song at the Africa Rising launch ceremony in Mauritius.

Super rich Nigerian musicians living their dreams

Super rich Nigerian musicians living their dreams

While many Nigerian musicians have gained recognition within and outside the shores of the country, the impact was fully felt  when Forbes rated seven Nigerian musicians as part of the 10 top richest musicians in Africa. Today, most Nigerian musicians are living their dreams. They live in opulence like their counterparts in other parts of the world. Here are just some of the successful artistes who are living their dreams.

D’BANJ

The success story of Dapo Oyebanjo popularly known as D’Banj cannot only be quantified by naira and kobo but in dollars and pounds. Ever since he arrived the Nigerian music scene with his close friend and producer, Don Jazzy, he has been soaring high in his career, dishing out hits after hits.
Few years back when he went solo, he revealed how, he and Jazzy made over N3 billion as at then, while they were still together. D’banj also known as the ‘Koko Master’ is not only an artiste who makes his money from the sale of his CDs alone, but he is a businessman who has invested heavily in other concerns of life. He was once paid $1m by a cable television for a show called, Koko Mansion.
The Ogun State-born lanky musician owns a range of investments which includes ‘Koko Water, Koko Garri, Koko Mobile, Koko Bar. His Koko Foundation is currently working on charitable initiatives for the less privileged.
Aside his fleet of exotic cars, D’banj is a powerful dresser who has headlined many national and international events and still counting. His mansion in the US is worth over N300m as well as his other landed properties scattered across the nation.
He has a multimillion endorsement deals with Globacom, an energy drink company, Chris Aire, UAC, among others.  He currently has a recording deal with Kanye West’s G.O.O.D Music. He pockets between N5 million and N7million as performance fee for local gigs; $80,000 to $150,000 for African shows; £40,000 to £60,000 for UK shows; and $50,000 to $60,000 for American shows.


Tuface

From when Innocent Ujah Idibia was a member of the defunct Plantazhion Boys, he was making his mark as the lead singer. No wonder, he became a household name in Africa and beyond when he went solo.
The pop star fondly called Tuface or Tubaba has so many awards which has distinguished him  among the greats in the music industry. The CEO of Hypertek Records and Entertainment married to Nollywood actress, Annie Macaulay is a heavy investor in the real estate business.
According to him, it’s one ‘business that one cannot go wrong with.’ He owns a N200 million  Rumours Club in Festac town as well as  in GRA, Ikeja with the same name. Reports say, he’s worth over  N600m.
Aside endorsement deals from Guinness, Airtel and N30m from ‘Phat Girls,’ he charges between N4 million to N5 million per show. He has huge invested in stocks and real estates.  The African queen crooner has five multi-million naira houses at the last count in Lagos, Abuja and Benue states. He cruises in states of the art cars.

Banky W

Known as Mr. Capable, Bankole Wellington is in a world of his own as a specialist in RnB genre of music and he is smiling to the banks for his efforts.
The Nigerian American who is CEO, Empire Friends Entertainment (E.M.E) records is instrumental to the soaring careers of multi millionaire musician, Wizkid and Skales.
Not much is known about his investments but he is rich enough to own a scholarship fund which supplies tuition fee, room, board at some universities for brilliant but indigent students.
He is on the Board of Trustees of ‘Lightup Nigeria’ which aims at ensuring  regular power supply in the country. Banky W who is a lover of automobile is a brand  ambassador for Etisalat as well as  Face of  Samsung in West African countries. He is an accomplished Master of ceremonies.


WIZKID

The ‘Celebrity Youngman’ needs no introduction. His name is Ayo Balogun better known as Wizkid. He is the CEO, Star Youngman Record label, an artistes that has a large following both locally and internationally especially in the UK.
Wizkid has headlined major events within and outside the shores of the country with a lot of awards to show for his hardwork. He no doubt lives like a prince.
With an eye popping mansion in Lekki, Lagos aside his expensive cars which includes a N15 million Porsche Panamera after crashing the first one, the ‘Caro’ exponent raked in millions with his multimillion naira endorsement deal with Pepsi, MTN. Wizkid also makes money from sale of CDs, shows as he charges N5 million per show, among other benefits.


Don Jazzy

Michael Ajere is a musician, producer and entrepreneur par excellence. After the collapse of ‘Mo’ Hits’ Records, Don Jazzy as Ajere is popularly known, established  MAVIN Records, bringing Tiwa Savage on board. The success of D, banj, Dr.Sid, D’ Prince, K Switch and Wande Coal have the imprint of Don Jazzy.
The Delta State-born producer who embraced the microphone at the age of five signed  lucrative deals with Loya Milk, Samsung and MTN. He has interest in the oil and gas sector as well as real estate business.
He is not someone who loves to show off but a reliable source informed that Jazzy rated as the number one richest African musician lives in a multi-million naira  mansion in Lekki and paints the town red in his exotic cars including Porsche Car.


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The Whatsapp Story - A Tale Of Modern Day Rags To Riches

Providing a free solution to a problem is the key to riches today. The Whatsapp story will perhaps become one of the case studies on how to become a billionaire in the shortest time possible.

Whatsapp Success Story

Like many people in the technology industry, Whatsapp's founders started with a bright idea. Ideas often fail mid way or never take off at all. But Whatsapp not only became a big hit, it brought in fame, fortune and one of the greatest modern day rags to riches stories we have ever seen.

Jan Koum began his career working at yahoo, but quickly became disillusioned by the constant advertisements that were used to fund the site. By 2007, he decided to leave Yahoo and start his own company with fellow engineer, Brian Acton. Their goal was to create a simple way to send messages and find an easier way to find out customers' information. Unlike Yahoo and Google, WhatsApp was designed to exist without any advertisements, games and gimmicks.

whatsappWith over 600 Million active users and rising, Mark Zuckerberg says that this app could connect 2-3 Billion users in the future. No wonder, he is paying $19 Billion to purchase this app.

Creating A Multi-Billion Dollar Company

Today, WhatsApp has developed a monthly user base of 600 million people. This is almost double the users on Twitter which stands at 271 Million people. The success of the business drew the attention of Facebook. CEO Mark Zuckerberg who chose to buy the five-year-old business. The amount of money paid for WhatsApp made it the largest Internet deal since Time Warner merged with AOL back in 2001. How much did Facebook pay for Whatsapp? Answer : An insane $19 Billion. Which instantly made Jan Koum a billionaire.

A Changing Life

As a child, Jan Koum never guessed that he would one day become a billionaire. His family moved from Ukraine when he was a teenager and lived off of food stamps throughout his youth. Back in Ukraine, Koum and his family were used to having phones regularly tapped. This taught him the value of privacy and encouraged Koum to create a messaging system that was completely private. Unlike other sites and applications, WhatsApp does not take personal information like names or addresses. Instead, it authenticates phone numbers before approving user accounts.

Keeping Focused On The Goal

After losing money in the dot-com bust, Koum went to work for Yahoo. Interestingly, he was turned down for a job position at Facebook. Before long, Koum and Brian Acton decided to create their own application. WhatsApp was designed to be completely free to send messages for one year. After the initial year, sending messages costs only 99 cents. Instead of using traditional marketing, they allowed the service to spread through word-of-mouth. In particular, WhatsApp became popular among family members and friends who lived in different countries. The application allowed these people to get around the high costs charged by phone carriers for international calls.

The success of the company was further ensured by their low-cost focus. Instead of seeking additional funds or employees, they kept the original office filled with just ten desks and old carpeting. While other applications branched out into games or advertising, WhatsApp's founders kept their application focused on just sending fast messages. This focus on a single-minded purpose paid off. In 2011, Sequoia Capital invested $8 million into the application. This 15 percent stake in WhatsApp is now valued at a total of $3.5 billion.

Even after merging with Facebook, WhatsApp has maintained its independence. The application operates autonomously so that it can remain true to the original business goal. Altogether, this message service was purchased by Facebook for $19 billion. Since Koum has a 45 percent stake in the company, the purchase makes him a billionaire several times over. Even Acton's 20 percent stake is enough to bring him into the ranks of the world's richest people.

Lessons To Take With Us

   * Providing a free solution to a problem can be beneficial to the long term success of your company. This is especially true for tech companies.
  *  Being extremely focused can be helpful to a business that is just starting out.
  *  Focusing on just one thing can sometimes bring you greater success than trying to do too much
  *  Keeping costs low is one of the tested ways of success in the long run.

Drop your comment if you are aspiring to be next billionaire.

7 Rich Celebrities With OCD

Rich celebrities with ocd

Did you know that there are rich celebrities with OCD? Yes, they do suffer from this condition despite their wealth and fame. Obsessive Compulsive Disorder or OCD is a condition characterized by repetitive thoughts or an impulse to perform routine over and over. For instance, people obsessed with germs or dirt will develop a compulsion to wash their hands over and over. Performing such rituals provides some temporary relief brought about by the obsessive thoughts.

These seven celebs have been diagnosed with OCD. But guess what? They have not let their obsessions override their dreams and they still register high in the scale of success.

1. Donald Trump - Net Worth $3.9 Billion
donald trump is known to be an ocd sufferer

He may be stinking rich and famous, but Trump has his own share of quirks. The business magnate has admitted to having borderline OCD. He can’t shake hands because of his fear of germs particularly with teachers who, according to Donald, carry most germs. Touching the ground floor button of an elevator is also on Donald’s “do not touch list.”

Read : 10 Richest Construction Tycoons In The World - Trump Doesn't Even Make The List.

2. David Beckham - Net Worth $350 Million
david beckham ocd

The hunky footballer revealed his battle with OCD back in 2006. He has a debilitating dependency on rituals of symmetry: everything has to be in a straight line or in pairs. Beckham has tried to break his cycle of perfectionism, but his efforts have not been rewarding. Off the pitch, Beckham is keen on ensuring all his shirts are lined up according to color, and it’s not just about the clothes, his cans of soft drinks have to be symmetrical.

See Also : 10 Richest Footballers In The World

3. Howard Stern - Net Worth $500 Million
howard stern ocd

Love him or hate him, Howard Stern has managed to carve out a name for himself in the showbiz industry. He has been dubbed the ultimate “shock jock” thanks to his outspoken personality. He has also been candid with his battle with OCD.

During his college years, Howard was nervous about entering the world of broadcasting and so he developed a ritual to help him cope with his fear. He could not turn on the radio before dialing a certain number with his right hand. His OCD seems to have culminated, and he now practices transcendental meditation.

4. Jessica Alba - Net Worth $20 Million
jessica alba ocd

The sultry access has admitted that she can be a little obsessive and compulsive about how she gets things done. Jessica Alba always wants everything done to perfection. Nevertheless, she is not too concerned with the effects of OCD in her life. She believes it has contributed to her Hollywood success because she depicts each role to the best of her ability.

Don't Miss : 10 Richest Playboy Models In The World.

5. Howie Mandel - Net Worth $40 Million
howie mandel ocd

The deal or no deal TV host went public with his battle with OCD in 2009.His unhealthy fear of germs and dirt began cropping up when he was a kid. He never tied his shoes because he believed the laces were dirty.

His crippling fear has continued to manifest in his adult life. Howie Mandel avoids handshakes like a plague and doesn’t touch his money unless it’s washed. Howie has, however, embraced his lifestyle and has even penned a memoir that chronicles his journey with OCD.

6. Megan Fox - Net Worth $5 Million
megan fox ocd

The foxy American actress is one of the latest celebrities to come clean about her struggle with OCD. So what is this young damsel obsessed about?  Public toilets and silverware in restaurants. She finds its icky eating from spoons that have been used by millions of other people. Toilets without seat covers? Not for Megan Fox.

Don't Miss : Top 10 Richest British Actresses.

7. Justin Timberlake - Net Worth $175 Million
justin timberlake ocd

Justin Timberlake has got success wrapped up around him. Apart from having a booming singing and acting career, his stunning looks have landed him on the worlds’ sexiest men list. What some of his fans may not know is that the hunky singer has OCD. He has an obsession of lining up objects, and he always has to have a particular food item in the house all the time.

If you think this post has impacted something to you drop your comment.

Billionaire of the week

Jennifer Lopez Net Worth $300 Million

Jennifer Lynn Muñiz (aka., Jennifer Lopez) is an American entertainer, producer and business woman born on July 24th, 1969. To the dismay of her parents, who were born in Puerto Rico, Lopez became interested in pursuing a career in the entertainment industry, but they discouraged her, thinking it was an unrealistic career route for a Hispanic.

jennifer lopez net worth

 Lopez had her first high-profile job in 1991, as a dancer on the multicultural comedy show, In Living Color, and remained a regular until she decided to pursue acting in 1993. She received her first leading role in 1997, on the biographic movie about the Mexican singer, Selena.

Following the success of her first major acting role, the following year she became the first Latina actress to earn over $1 million for a role in the film Out of Sight. She became a pop sensation in 1999 with her debut studio album, On the 6. Now, she’s one of the wealthiest and most influential Hispanics in the United States and has a net worth of $300 million. She also currently earns $12 million a year as a host on the famous talent show, American Idol.

Why “Charge Less” Is Broken Advice

When I decided to become a coach in July, I sought out several experienced coaches for advice. After all, if I was going to make this my new business, I wanted to know what to do–and what not to do–to make my business successful!

One coach I spoke to advised me, “Charge less so you can build up a client base.” At the time, I had an almost visceral reaction to it. I replied, “No, I’m going to charge more.” She looked at me with surprise.

“Charge less so you can build up a client base.” It’s seductively simple advice that, no matter what industry you’re in, you’ve probably heard someone say. It’s one of those pieces of advice that seems so right. It seems like a good idea–but, in reality, many businesses fail by following this type of advice.

Why is that?

Why “Charge Less” Is Broken Advice

“Charge less” forces you to build a larger client base to support yourself. When you are just starting out with any new business, your goal is simple: Get one paying client. With all of my businesses, I was able to do that in the first 30-45 days I’d built the business.

The biggest challenge is getting that one client to pay you. It’s not how much they pay you. It’s that they pay you at all!

You might think, “Yes, but we don’t have the features/product/service that others have, so we can’t charge more.” This is a falsehood too. It’s a fear-based mentality that will bring you the wrong clients. Do you really want the client who would go with the better product (in his/her mind), but can’t afford it, so they go with you? Of course not!

Why People Actually Buy (Hint: Not Features)

Clients don’t buy a product entirely based on features. I know it sounds strange to hear that, especially if you’re in the startup/software industry, where pricing tables with bullet points are the norm. But it’s been true with every company I’ve built, from web hosting to software to consulting/services to my coworking space.

They buy the product because they believe it will help their business in some way. They buy a product from a startup because they believe in you. They are basically your early investors. They are placing a bet on you.

When I sold web hosting, I hired a coach/consultant who came out to my office for 2 straight days. We dove deep into my business. We found my most profitable product was a web hosting package I sold at 50% off our regular price. “Aha!” I can hear you thinking right now. “See, your web hosting clients bought on price.”

No. Turns out, they didn’t buy it because it was 50% off. They bought it because the way I pitched it was an opportunity to give feedback directly to us about what they wanted to see in the product. I said there would be a mandatory survey in the first 30 days where they could give feedback.

Then I got crazy busy with new customers and decided the survey wasn’t that important anyway, so I didn’t send one.

Do you know what happened next? People emailed me directly (and emailed our support desk) asking where their survey was. Some just wanted to make sure they hadn’t missed it because they were happy with their web hosting package and didn’t want it to be taken away from them because they didn’t fill out the survey. But an even larger chunk were hungry to give me feedback.

How Much Can You Charge? (Perhaps More than You Think…)

In talking to my clients, I discovered their biggest issue with the hosting industry wasn’t price. It was that, in the race to the bottom, customer service in the industry had become shockingly bad.

Here is the best part: Do you know what price I charged for that web hosting package? In a world of $10/month packages, my half-price offer was $40/month. The regular price? $80/month. For nothing fancy–just a shared hosting package with extra disk space. And the ability to give feedback–which found a “sweet spot” in a world of people who were frustrated with those $10/month hosting packages and the robots who seemed to be in charge of customer support at those companies.

I charged four times the going rate for hosting. What would have happened if I would have taken the advice of “Charge less so you can build up a customer base?” I would have failed! How many annoying, frustrating $5/month clients would it have taken for me to build a full-time income? Thousands.

I took that lesson and what did I do? I charged more! By the time I sold my company, we were into high-end dedicated servers and colocation, and our ARPU (average revenue per user) was $425/month. The clients who were writing us $8,000/month checks turned out to be just as awesome as the $80/month customers!

How Many Clients Do You Need to Pay Your Bills?

How many $8,000/month clients does it take for you to make a full-time income? Probably, even with expenses included, one. Perhaps two.

What do those customers look like? Well, they’re probably running successful businesses. They’re making good money. But they have real and significant problems that you can help with. They need to set up a better sales pipeline. They’re struggling to find the right people to hire. They’re reaching the limits of email and need better solutions to manage leads, sales, and support. They’ve taken on too much work for themselves and are trying like mad to delegate.

And they’d be grateful for your help.

I came into coaching looking around at the going rates for business coaching, and deciding to come in at the top of that range. Not only because I knew I’d attract the right people–but because I knew the hardest part would be getting people to write me that check at all, no matter what the number was.

The Real Reason Most People Don’t Charge More

I also charged more for one other reason, and that was because it forces me to be a better coach. At these rates, clients have high expectations (and well they should!) “But shouldn’t you charge less because you’re just starting out?” No, I should charge more because it’s a challenge. Because it forces me to think quickly and learn on my feet.

I know I’ll be a better coach, and a better business owner, if I charge more and force myself to live up to their expectations. If the expectations become too much, I can scale back, humbly admit my mistakes, and move forward. (And I will make mistakes–as will you! That’s all part of running a successful business.)

I risk much more as a business owner by coming in and charging at the top of the spectrum. And that gets down to the real reason “Charge less so you can build up a client base” is such popular advice, even though it will have devastating consequences in most businesses. It is because we don’t feel worthy of charging more. We don’t feel like we deserve to charge that much. So we charge less out of a deep-seated fear.

I’ve just told you that people don’t buy software based on features. (A dirty secret.) But I still see many business owners compare their company to some software that’s been on the market for 10 years and say, “Well, they have more features.” Great! But do they have the features your clients need? Find the clients who need 1/10 of those features and charge them a premium price just for that. Offer clients the opportunity to give feedback. Go out and be the 37signals in your industry. Build the UNIX philosophy into your company–do one thing and do it well!

What’s the worst-case scenario? No one will pay what you charge. You’ll probably find a customer even at the top rate you can charge, but just in case you don’t, look closely at who you’re having conversations with. Are you talking with broke startups who are stretching to pay $50/month for web hosting? Are you talking with wannabe business owners who’d have to pay the money for your business out of their own pockets?

Are those the customers you really want? Or can you find the one person who’s willing to pay 10x what all those other people are willing to pay, because you’ve hit the nail on the head with the exact solution for the problem he or she is trying to solve?

I don’t want everyone as a client. I want a few awesome business rock stars. And truthfully, that’s all you need to get started, too. Stop letting fear run your business–and by extension, your pricing. Charge more. And when people say “Charge less so you can build up a client base”, feel free to refer them to this blog post so they can charge more, too!

The intersection of finding a handful of great clients and charging them a premium is where successful businesses are built. It takes a lot of courage that most people don’t have. It’s time for you to put away that fear and build a business at that crossroads.

Here’s to courage, and charging more!



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The post Why “Charge Less” is Almost Always the Wrong Advice appeared first on Starting Your Own Business with Erica Douglass.