How to turn $100 into $1 million, according to 9 self-made millionaires

"You don't even need $100 if you're willing to buy an established business. Many baby boomers are looking for someone trustworthy to take over their multimillion-dollar businesses so that they can retire. It's common to negotiate a deal where you pay just 30% of the purchase price at closing.

Financial institutions that specialize in acquisitions will lend you the down payment regardless of your credit because they can use the business assets as collateral. You get the business with no money down and pay the remaining 70% over time using earnings from the business. You don't even need relevant experience — you just need to find a business that has been around for five or 10 years. The owner will mentor you through the transition, and you can give an expert equity to manage the business for you.

Why doesn't everyone do this? Because starting the next Uber or Facebook seems sexier than buying professional services or businesses . But with this approach, you get to skip the struggles that cause 90% of startups to fail."

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