The Best Place to Invest during a recession

I thought I was smart.

I am listening to a mentor of mine the other day. We're all on the same team together and there was an interesting question going around to everyone: "If you were handed $100 million today What would you do?" It was just an easy exercise of thinking free of any constraints.

In the end, I believed I was smooth.

I told myself, "I'd invest it and earn a living from the dividends". An acceptable answer, I thought. My mentor was up right after me and as soon as he gave his answer I was sure I was on the right track. It was one of the "duh" moment. Anyway, he followed on after my reply and said:

"Yeah, I'd invest in it however, I'd do it in MY company."

Forehead slap. "Duh!"

I am aware of this. The best investment regardless of whether you are in a recession is inside yourself. Something YOU have control over and input into. Instead of just passively throwing the funds into mutual funds or a stock you will not be watching all the time and don't have any control over.

Your return will always be higher.

Because you're truly "invested".

There's no reason to think that stocks or mutual funds don't make a great method of diversification however if you're an online business owner wondering what you should be doing as we could head for another recession... my guideline from my mentor is as relevant as it has ever been.

Put money into your future.

Of course, how you accomplish this is also important.

One of the main reasons that we joined the world of membership over 13 years back. This is why we operate a technology company built around 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. For most models of business, you're starting from scratch every month. If you sell online-based courses, for instance it starts with zero courses sold each month. And, if you want to reach your goal then you must sell all those units, yet again, to customers who are new.

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

Sure, members must renew their membership... but some will not, but even if you have $100 in recurring income from your membership that's better than zero. Additionally, you'ren't just offering new customers. You'll want to increase your membership and grow your bottom line However, most of your earnings come from renewals.

Members who are already members will simply keep their membership.

We've all heard about the statistics, right? It's 7 times harder to acquire an individual customer than to convert the same one. Membership takes that idea up to the limit. And, with time, you can grow your "floor" of income from $100 to $500 as well as $1000, $5,000 and beyond.

However, I'm painfully biased because I work at a company that offers membership software yet, like I mentioned... there's an explanation for why we developed the program we developed. There's a reason we're working in the field we're in. We all genuinely believe in the benefits of membership since we've witnessed it alter the lives of people time and time again.

However, it is it's up to you.

It is important to remember this in the event of next turbulence.

When it comes to membership, in particular, the sooner you begin the better.

To your success!

John Morris

VP of Sales
          Member

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