The most profitable place to invest During a Recession - WordPress Membership Plugin - Membership Websites

Aug 19, 2022

The best place to invest in a downturn

I thought I was so clever.

I was listening to a friend of mine earlier in the day. We're both on a group and there was a question going around to everyone: "If you were handed $100 million dollars today how would you respond?" It was just an exercise to think without constraints.

In the end, I believed I was smooth.

I said, "I'd invest it and live off the interest". An acceptable solution, I believed. But, my mentor was up right after me. As soon as he gave his answer I was sure I was on the right track. It was one of the "duh" moments. Anyway, he followed on from my answer and said:

"Yeah, I'd invest it, but I'd invest it into my company."

Forehead slap. "Duh!"

I am aware of this. The most effective place to invest whether in recession or not, is in your own personal finances. You control the investment and have input into. Instead of passively dumping it into a mutual fund or other stock that you won't watch all that close and have no control over.

Your return will always increase.

You're "invested".

It's not that mutual funds don't make a great method of diversification However, when you're an online company proprietor wondering what you can be doing as we could head into another recession... my mentor's advice is as apt as ever.

Put money into your own future.

Naturally, how you do that matters, too.

That's one of the reasons we got into the membership game over 13 years ago. That's the reason we have an IT company based on memberships. We encourage online business owners to add an element of membership to their business's revenue.

It's a game-changer.

It eases the pressure that goes managing an online company. In the majority of business models, you're starting from scratch every month. If you offer online-based courses, for instance it starts with zero courses sold each month. And, if you want to hit your goals, you have offer all of those units and again, to brand new clients.

However, when you join, you don't start at the beginning with nothing.

It's true that people must renew... and some won't, but even if you have the equivalent of $100 per month in monthly income from your membership that's better than zero. Additionally, you'ren't just selling new clients. Naturally, you'd like to add new members and increase the value of your business, but most of your income comes from renewals.

Members who are already members will simply keep their subscription.

We've all heard about the statistics that you've heard about, don't you? It's 7 times harder to acquire a new customer than it is to sell an existing one. Membership is a way to take this idea to the max. As time passes it is possible to increase your "floor" of earnings from $50 to $500 or $1000 to $5,000, and more.

To be honest I'm biased due to the fact that I'm employed by a firm that offers membership software yet, like I mentioned... there's a reason we created our software. We have a reason for being working in the field we're in. We're all convinced of the value of membership, as we've seen it transform people's lives time and again.

However, it is it's up to you.

It is important to remember this as you navigate some potential next turbulent times.

With membership especially, the sooner you get started the better.

To your success!

John Morris

Vice President of Sales
Member