A common trait of successful entrepreneurial managers is an almost unquenchable thirst for knowledge.

They have determined early in their careers that education and knowledge are vital to understanding and addressing customer needs. An interesting result is a market dynamic where you have entrepreneurs selling knowledge to other entrepreneurs seeking it.

Whether in the form of newspaper columns, seminars, presentations, consulting projects or even blogs, knowledge becomes the product.

There are a number of implications contained in this commercial exchange. First and foremost is the expectation of value. Simply stated, everyone reading this column or attending a seminar should expect to take away some insight of value.

Now while this value may at one point in the presentation be greater than at another, by the time the conclusion is reached there should be the feeling that the time spent reading or listening is worth it. Unfortunately, some feel that this is the sole responsibility of the author or the presenter.

I contend it is a two way street.

I can safely say that I have never attended a seminar where I received absolutely no benefit. Disappointingly, I have sat through many presentations that were just plain awful, where the presenter was disorganized, the information out of date, the advertised topic unaddressed.

But I always took the position in my mind that my time attending this event was an operating expense and just like any other operating expense I was determined to get my money’s worth.

Whether through my own questions or those of others, stubbornly pursued responses to personal questions are of value. Contrast this with the position taken by many that perceive a presentation solely as entertainment with no personal responsibility for the outcome.

An unintended benefit was the realization that a bad (unfocused) presentation also serves as a great guide for “what not to do in the future.”

I’ve also noticed over time that very few folks prepare before they attend a seminar. It is amazing how a little preparation and study will allow a thin veneer of Powerpoint wisdom to be suddenly expanded into something of depth and use.

From a presenter’s perspective, I can assure you that prepared attendees are a rarity. Good presenters know their topic and welcome the opportunity to share their insights and recommendations. From an attendee’s position, the learning experience is so much richer. From an employer’s position, the company’s benefit from the attendance of a prepared employee is also much greater.

In difficult times, many entrepreneurial managers “pull in their horns” and eliminate expenses such as seminars, viewing them as luxuries. Yet this is the time when knowledge properly applied is most valuable and most critical.

Just recognize and accept your personal responsibility to get something out of it and you’ll never be shortchanged.

John F. Riddell Jr., director of the Center for Entrepreneurial Growth-Hamilton County, writes each Tuesday about entrepreneurs and their impact on companies and the marketplace. Submit comments to his attention by writing to Business Editor John Vass Jr., Chattanooga Times Free Press, P.O. Box 1447, Chattanooga, TN 37401-1447, or by e-mailing him at business@timesfreepress.com