The Best Place to Invest in a downturn - WordPress Membership Plugin - Membership Sites

Aug 19, 2022

The most profitable place to invest during a recession

I thought I was clever.

I was listening to a friend of mine earlier in the day. We're both on a group and there was an interesting question going around to everyone: "If you were handed $100 million dollars today What would you do?" It was just a simple exercise in thinking free of any constraints.

In the end, I believed I was slick.

I replied, "I'd invest it and earn a living from the yield". An acceptable answer, I thought. However, my teacher was up right after me and as soon as he gave his answer I was sure he was right. This was one of those "duh" moments. However, he drew a line after my reply and said:

"Yeah I'd be willing to put it in the bank, but I'd invest it into my company."

Forehead slap. "Duh!"

I know this. The best investment regardless of whether you are in a recession is inside the area of your personal investment. Something YOU have control over and input into. Instead of dumping the funds into mutual funds or other stock that you will not be watching all the time and aren't in control of.

Your returns will almost always increase.

Since you're "invested".

Not that stocks and mutual funds aren't an excellent option to diversify your portfolio, but when you're an online company owner wondering what you should do as we potentially head towards another downturn... my guideline from my mentor is as relevant as ever.

Invest in yourself.

Naturally, how you perform that is equally important.

This is one reason why that we joined the game of membership more than 13 years back. That's the reason we have a technology company built around memberships. This is why we urge entrepreneurs to incorporate the membership option to their income mix.

It's a game changer.

It takes away a lot of the anxiety that comes the running of an online business. In the majority of business models, you're starting from scratch every month. If you're selling online-based courses, for instance starting at 0 courses sold each month. If you wish to achieve your objectives then you must offer all of those units yet again, to customers who are new.

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

Yes, people have to renew their membership... Some don't. However, even if you only have 100 dollars in earnings from your membership this is better than nothing. Plus, you're not only selling new customers. You'll want to add new members to increase your profits However, most of your income comes through renewals.

Members who are already members will simply keep their subscription.

It's been said, right? It's about 6-7 times more difficult to convince to a brand new client than to convert a repeat one. Membership can take that concept to the max. With time it is possible to increase your "floor" of income from $50 to $500 as well as $1000, $5,000 and even more.

To be honest I'm biased due to the fact that I'm employed by a firm that offers membership software but it's like I said... there's a reason we created the program we developed. We have a reason for being working in the field we're in. We all genuinely believe in the value of membership, as we've witnessed it alter people's lives time and again.

It's up to you.

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

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

To your success!

John Morris

Vice President of Sales
Member