Last week I gave a speech entitled “The Life and Times of an Entrepreneur.” In preparing for this speech, I reviewed all of my prior readings and writings on the subject. I wanted to give the audience my conclusions (30 years as an entrepreneur) in a clear and simplified presentation.

Here are my top three conclusions:

1. Everyone should devote some portion of their life to entrepreneurism – a calculated, roll-up-your sleeves effort that risks time, energy and/or capital in an effort to make a quantum leap forward. This effort does not have to be full time. Part time is fine – writing a book, designing jewelry or clothing, starting an online business – something that could be life-changing.

2. The single most important reason people underperform their potential is a disconnect between one’s passion and profession. No matter how hard one tries, there can be no great success when a gap exists between a true, heart-felt passion and, a business week filled with something else.

3. The second most important reason people underperform their potential is because they underestimate how hard it is to succeed. People start off on an idea, a venture or a dream with all good intentions. But, when they hit roadblock after roadblock, they falter – not understanding that this is all part of the game. It is for that reason I spent a lot of time in my presentation addressing the difficulties of being an entrepreneur. My goal was to give budding entrepreneurs an accurate road map so that they would be well prepared for the journey – and, less likely to fall off the path.

I am the father of four young adults.. When they were children, my wife and I struggled with how to prepare them for a challenging world. She felt that it was important to give them lots of encouragement – build their self-esteem. I felt it was important to mix in a lot of “it’s hard out there” type content – preparing them for the difficulties ahead.

I found myself giving this same kind of content to the prospective entrepreneurs. It is what I believe. It is what I have seen work.

I hope that I was not too heavy handed.

Jim Randel is the founder of the award-winning Skinny On™ series of books and content. For more information see www.theskinnyon.com