Making Money On the Dip
If you are someone who has been able to invest in stocks over the past few years, I'm sure you're feeling the correction. Even if you're firmly in the camp of dollar-cost averaging (investing the same amount each month no matter how the market is moving) you still probably feel it when you look at the current value of your retirement account.
And yet, you probably expected that there would be a correction. You understand, fundamentally, that what goes up must come down, that money moves in cycles, and that overall, things usually end up a little higher in the end. The entire marketing platform for the retirement industry is based on this idea: over the long haul, you win. (Of course, somebody else wins even more based on your wins, but that's a story for a different day.)
Why don't we apply the same reasoning to our organizations, who are in a down cycle right now?
Ticket sales are lower than hoped for. The same old subscription isn't cutting it. And some leaders are still wondering "what can I do to bring them back?" Have we forgotten what a down cycle in nonprofits looks like? Collectively, we aren't going to get anywhere if we constantly compare where our organizations are now to how they were before. We have to embrace the dip. We have to make it work for us.
Focused investors can make revenue and improve their investment account in any market condition. Focused nonprofit leaders can make revenue and improve their organizations in any societal condition.
When the market cycle is down, your dollar is best spent on buying discounted investments. When the nonprofit cycle is down, your dollar is best spent on organizational improvements (audience research, streamlining operations, revenue R&D, training and cross-training staff, upgrading and reducing the cost of software, processes, and procedures, etc.).
I'll wager that something relevant about your organization came to your mind as you read that list. What?
When the cycle shifts to the positive, you'll be stronger, wiser, and ready.
It's time for you to implement. It's Ron's Monday Mission™
It's uncontested: we're in a dip. The question is: What opportunity is available to your organization right now that wasn't before, that will provide long-term benefit in both good times, and bad?
Have a great week.