Being a great investor doesn't mean you'll get it right every time. No matter your prowess, you'll likely encounter a few duds along with the gems. The types of investments you make, your holding period, and your risk tolerance are just a few factors that affect your overall returns.

One thing's for certain: Trying to time the market is an attractive notion, but it's almost impossible. Instead, focus on great companies with quality businesses that can deliver growth and value over the long term. Holding these stocks and adding to them regularly -- even when the market is down -- is a habit that can build a winning portfolio with time.

And if you're looking to invest $2,000 in the stock market this month, here are two fantastic businesses to consider for at least part of that amount.

1. Airbnb

Airbnb (ABNB 1.10%) offers guests an entirely different experience than the average hotel, and it continues to draw a wide range of travelers even in the current economy. The return of cross-border travel and the elongated surge of "revenge travel" following lockdowns have also been palpable tailwinds.

What's interesting to me as someone who has been covering Airbnb and its growth story for a while is the way it continues to draw all types of guests with just about any kind of travel need.

Airbnb has rolled out a range of new upgrades lately, including discounts for long-term stays; new payment options like buy now, pay later; better pricing tools for hosts and guests; and Host Passport, which gives more information about the host before booking. In the first-quarter earnings call, CEO Brian Chesky also discussed exactly how the AI revolution will affect his company's platform:

A few months ago, OpenAI launched plug-ins. And in fact, we were actually supposed to be one of the launch partners for the plug-ins on OpenAI ChatGPT. But I told Sam [Altman, CEO of OpenAI] -- we were literally one of the first to work with him -- that before, right before launch, I decided to pull the plug on it. And the reason why is I decided that the interface of pure tech space with widgets at the bottom was probably not the right interface for travel.

Ultimately, I think the right interface for travel is multimodal. It's rich media, it's photo, it's video, it's much more immersive. And GPT-4 is available in our app. So, we're going to be building GPT-4 into our interface, and I think that's the real opportunity for us. So, you should see some big changes next year with AI built into our app.

The integration of AI into its platform makes sense from an operational and competitive standpoint, and it's one of many developments for investors to watch in the coming quarters. Regardless of a potential recession, Airbnb looks to be pushing full steam ahead, and for long-term investors, this investment opportunity looks like a solid bet on the present and future of travel.

Airbnb continues to clock record demand from hosts and guests. People who travel for business or leisure or a mix of both (I've heard the term "bleisure" used recently for this cohort) -- including those looking for extended stays -- can find what they want in just about any part of the world on the platform.

Unlike the typical hotel, Airbnb has accommodations that align with anyone's schedule and mode of travel -- whether living with a local family, cooking all your meals in a full-service apartment, or renting a castle in Tuscany. The choices seem endless.

This business model is not unique to Airbnb. But its continued rollout of new services for hosts and guests in its efforts to constantly stay ahead of the demand curve is raking in revenue and profits.

The company now accounts for more than 20% of the vacation rental market. Long-term stays (28 days or more) are now 18% of all bookings on the platform, compared to just 13% to 16% before the pandemic. Travel habits have changed since then, and Airbnb looks poised to benefit from both the emerging and long-held patterns, which is great news both for the business and its shareholders.   

2. Chewy

Chewy (CHWY -0.31%) operates in a multibillion-dollar industry that is on track for continued growth in the coming years along with the rise in pet ownership. With everything from food, health insurance, and medicine, Chewy meets the daily needs of pet owners. 

This has enabled the company to build its sales streams and move to consistent profitability. Chewy reported net sales just shy of $3 billion in the first quarter of this year, a 15% jump from the year-ago period. Its net income hit $22 million for the period. 

One of the most notable announcements in the first-quarter earnings report was Chewy's imminent expansion into its first international market, Canada, as of the third quarter of 2023. CEO Sumit Singh said:

As we assessed which geography would be most suitable for our expansion plans, we honed in on Canada's large and growing market, where we see a path to achieving market share and profitability akin to our U.S. business.

Canada has a healthy and increasing e-commerce penetration, where we can offer a differentiated value proposition relative to existing players in the market and build the same level of trust with Canadian pet parents that those in the U.S. have come to associate with the Chewy brand. Our initial launch will focus on the Greater Toronto market, which represents the largest metropolitan area in Canada, from which we plan to take a gradual and responsible approach to expanding our footprint.

The average Chewy customer spent more than $500 on the platform in the first quarter, with net sales per active customer jumping 15% year over year. This was fueled by the continued success of its Autoship program, which allows customers to set up recurring shipments of their favorite products, with perks like discounts on certain brands. 

Autoship accounted for 75% of total net sales in the first three months of 2023. The fact that the program is such a core driver of sales not only indicates considerable customer loyalty, but also means that Chewy is making most of its top line from recurring revenue.

Chewy's business still looks to be in the fairly early stages of its growth. With its diverse revenue model, steady journey to profitability, and an international expansion on the horizon, this could be a good time for investors to consider scooping up the stock.