The Best Place to Invest During a Recession

I thought I was so clever.

I was listening to a colleague of mine on the other day. We're on a team and there was an interesting question being asked to all: "If you were handed $100 million today What would you do?" It was just an easy exercise of thinking without constraints.

In the end, I believed I was smooth.

I told myself, "I'd invest it and live off the dividends". A pretty good solution, I believed. My mentor came in right behind me and as soon as he gave his answer, I knew he was right. This was one of those "duh" moment. In any case, he continued from my answer and said:

"Yeah I'd be willing to invest in it, but I'd invest it in MY company."

Forehead slap. "Duh!"

I am aware of this. The best place to invest whether in recession or not, is inside yourself. Something YOU have control over and can input into. Instead of just passively throwing it into a mutual fund or other stock that you don't keep track of and don't have any control over.

The returns you earn will generally be higher.

Because you're truly "invested".

Not that stocks and mutual funds aren't a good way to diversify however when you're an online company proprietor wondering what you can be doing as we could head into another recession... the advice of my guideline from my mentor is as relevant as ever.

Put money into your own future.

Of course, how you do that matters, too.

That's one of the reasons we got into the world of membership over 13 years in the past. It's why we run a technology company built around memberships. It's why we implore entrepreneurs to incorporate membership into their revenue mix.

It's a game-changer.

It takes away a lot of the pressure that goes with running an online business. With most business models, you're starting from scratch every month. If you sell online classes, for example it starts at 0 courses sold each month. In order to achieve your objectives then you must sell all those units, yet again, to customers who are new.

With membership it doesn't mean you start from the beginning with nothing.

Sure, members must renew... and some won't, but even if you have 100 dollars in revenue from your membership, that's better than zero. In addition, you're not just offering new customers. You'll want to attract new customers and increase the value of your business, but most of your earnings come through renewals.

Existing members are simply maintaining their subscription.

We've all heard about the statistics you've heard it before, haven't you? It's about 6-7 times more difficult to convince to a brand new client as it is to convince the same one. Membership is a way to take this idea up to the limit. And, with time it is possible to increase the "floor" of earnings from $100 to $500 as well as $1000, $5,000 and even more.

In any case I'm biased due to the fact that I'm in a position at a business that sells membership software, yet, like I mentioned... there's an explanation for why we developed the software we did. There's a reason we're operating in this business. We all genuinely believe in the power of membership because we've watched it change the lives of people time and time again.

But, the decision is yours.

It is important to remember this as you navigate some potential future turmoil.

With membership especially, the sooner you start, the better.

To your success!

John Morris

Vice President of Sales
          Member

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Tristan Truscott                              Satori Method                                                                                                                                                                                              I've added Member] to the top of my list of choices for anyone. The new Member has a lot to offer! and the cost for Member offers a wonderful offer.

Chris Lema                              LiquidWeb                                                                                                                                                                                              Member integrates with the tools I use TODAY. It's so easy to connect with the new products that are being released. It's amazing how they do it. If I had to purchase an membership-related plugin this day... I would go with Member. I would choose the Member.

Adam Preiser                              WPCrafter