Millionaires share the same secret to getting rich. What’s their common formula?

For many, the idea of becoming a millionaire seems like an impossible dream—something only possible for lottery winners, heirs of wealth, or Wall Street geniuses. However, according to a group of self-made millionaires, the key to wealth is not luck or inheritance. Instead, they say it comes down to one thing: persistence.

James Dumoulin, the host of the School of Hard Knocks YouTube channel, has spent years talking to millionaires from industries like real estate, tech, healthcare, and marketing. The surprising lesson he’s learned? No matter their background, almost all of them attribute their success to the same mindset.

“You Have to Be a Little Crazy”

“You have to be a little crazy, you have to have crazy faith,” says Coopwood. “The only thing that works is the work, and most people aren’t willing to put in enough effort to succeed. So, they quit before the work pays off.”

This view is shared by a 56-year-old commercial real estate developer who once made $200 million in one year. “A lot of financial success depends on timing,” he says. “Some people get lucky. But, in the end, it’s all about mindset. People will tell you why you can’t do it, but you have to believe in yourself and keep pushing forward.”

The main thing that separates those who succeed from those who don’t is endurance. Many of the millionaires Dumoulin interviews didn’t start successful—they struggled, failed, and lost money for years before they finally achieved their goals.

The idea of “overnight success” is a myth in their eyes. What looks like luck is actually the result of years of hard work, belief in oneself, and not giving up when others would quit.

Can Anyone Become a Millionaire?

So, is it possible for anyone to go from an ordinary job to massive wealth? These millionaires think so—but only if you’re willing to put in the effort, ignore the people who doubt you, and keep going even when the odds are against you.