The best place to invest During a Recession

I always thought I was intelligent.

I was listening to my colleague of mine on the other day. We're on a team and there was a question being asked to all: "If you were handed $100 million today What would you do?" It was just a simple exercise in thinking with no limitations.

Anyway, I thought I was pretty slick.

I said, "I'd invest it and live off the interest". An acceptable response, I thought. But, my mentor was up right after me. As soon as I heard his response I was sure that he was correct. This was one of the "duh" moments. Anyway, he followed on after my reply and said:

"Yeah, I'd invest in it however, I'd do it into my business."

Forehead slap. "Duh!"

I know this. The best place to invest, recession or no, is inside yourself. You control the investment and input into. Instead of just passively throwing the funds into mutual funds or other stock that you will not be watching all the time and aren't in control of.

Your return will always be higher.

You're "invested".

There's no reason to think that stocks or mutual funds aren't a good option to diversify your portfolio however if you're an online business owner and wondering what to do as we potentially head into another recession... my guideline from my mentor is as relevant as it has ever been.

Invest in your own future.

Of course, how you accomplish this is also important.

That's one of the reasons we got into the game of membership more than 13 years ago. This is why we operate a technology company built around memberships. We encourage entrepreneurs to incorporate an element of membership to their business's revenue.

It's a game-changer.

It takes away a lot of the anxiety that comes managing an online company. In the majority of business models that are new, you're beginning from scratch every month. If you offer online-based courses, for instance it starts with zero courses sold each month. If you wish to hit your goals that means you need to sell all those units, again, to new customers.

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

Yes, people have to renew... but some won't, but even if there's only $100 in recurring income from your membership it's still better than nothing. Additionally, you'ren't just selling new clients. Naturally, you'd like to add new members and grow your bottom line However, most of your revenue comes from renewals.

Members who are already members will simply keep their current subscription.

It's been said that you've heard about, don't you? It's about 6-7 times more difficult to convince a new customer than it is to sell a repeat one. Membership takes that idea to the max. And, with time, you can grow your "floor" of income between $100 and $500, $1000, $5,000 and even more.

In any case, 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 software we did. It's the reason why we're operating in this business. We're all in agreement about the power of membership because we've witnessed it alter individuals' lives repeatedly.

It's up to you.

It is important to remember this when you are navigating future turmoil.

When it comes to membership, in particular The earlier you can begin the better.

To your success!

John Morris

Vice President of Sales
          Member

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