Many people can save money, but saving does not make our money increase many times over. That is why many try hard to spin money to achieve wealth.
Quoting CNBC Make It, 9 investors and financial advisors provide their surefire tips and ideas for turning your millions into billions of rupiah. Here's how:
1. Invest in something you love
The famous New York writer and founder of the SkinnyGirl business, Bethenny Frenkel, said that wealth can not only be achieved through frugality, you also have to be smart about investing by starting with what you like.
"That's why investing is important. Find a group of people you trust and combine your millions with them to make an educated and solid, but aggressive investment. Invest in what you know and have a vision for it," he said.
You can even invest emotionally. With real estate, for example, I always choose a place I would live in if things went bad.
"Whatever approach you choose, choose something you love. I believe that if you love something, you'll be good at it," says Bethenny Frankel.
2. Buy and sell items from discount sales or garage sales
You can hunt for unique items at discount festivals, such as action figures or other old collections. Then check the price in the online shop, if the price offered at the discount party is much cheaper, don't hesitate to buy.
According to Vayner X CEO Gary Vaynerchuk, this business requires patience. Because you didn't just buy these items, but need to be maintained and repaired. Then, sell it while waiting for the right moment.
"This is the hard part. You have to save what you work for. When I was in my 20s, I didn't go on vacation or buy luxury items. I saved my money instead. And by the time I was in my 30s, I had hundreds of thousands of dollars. Then I invested those hundreds of thousands and they made millions. You have to be patient."
3. Develop and invest in yourself.
"Of course, there are people who have invested in opportunities at the right time and made a lot of money. If you had invested US$ 100 in Bitcoin in 2010, you would have done well. But for me, it was like playing the lottery," said Grant Cardone , Sales Expert who built a real estate empire worth U$ 750 million.
A more reliable way to get rich with just US$ 100 is to invest it in courses, books, audio programs or events that will help you improve yourself. Spend it developing new skills, gaining knowledge and making strong connections. When you invest in yourself, you have nothing to lose.
4. Write a book or e-book
"Six years ago, I hired someone for US$ 100 to design my first e-book. It only took about a week to create and all I had to do was write the copy. Since then it has been selling like crazy and I made at least US$ 100,000, " said Bryce Welker, CEO of online education company Crush Empire and founder of Crush The CPA Exam.
Use your knowledge and resources to write a book. Then, pay a designer from a global freelancing platform to make it look better and incentivize people to sell it for you through an affiliate marketing program.
Offer to pay them a commission for every sale they send you. When you leverage the traffic and trust they build with their audience, you don't even need to build a website.
5. Build a Personal Brand
Being an entrepreneur is a sexy thing that everyone wants to be involved in. You can make millions by building personal branding as an influencer or businessman.
With so many brands pushing online offerings, building trustworthy is the secret to success. To do that, you need a clear statement that defines your mission and how it helps others. This message should be based on how you solve your own problems.
"People will only follow you if they understand why you do what you do and if they identify with your mission. Explain your story, then invest US$ 100 in Facebook ads to attract people and maybe be in a situation like You," said Torben Platzer, founder and CEO of personal branding agency TPA Media GmbH, founder of the business education program SELFMADE.
6. Start a business in an online shop
"I would invest $100 in business coaching. Start with free online content from proven business leaders, then read every book you can get your hands on from books that resonate with you," said Matt Clark, co-founder and chairman of Amazing.com and c