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You may be a business owner, but does that automatically make you an entrepreneur? Are there characteristics that you are born with-or can learn-that qualify you as an entrepreneur? Can an entrepreneurial attitude give you a leg up against your competitors?

Entrepreneurship authors Jeffry Timmons and Stephen Spinelli think so. In New Venture Creation, they list a number of entrepreneurial skills, including being willing to take risks, committing to thorough market research, shifting gears quickly in response to changing market conditions, developing opportunities that create real value for customers, avoiding common mistakes, and demonstrating strong leadership.

Although entrepreneurs tend to be risk takers, according to Timmons and Spinelli, they take calculated risks. Evaluating the marketability and money-making possibilities of risks is a skill that requires analysis, experience, and a network of well-informed contacts who can advise you.

Another skill, conducting thorough market research, should be exercised on a regular basis-not just when you roll out a new product. Timmons and Spinelli write that responding to changes in the market requires knowledge of market conditions, the ability to think fast, and internal flexibility.

As a small business owner and a member of the U.S. Chamber, Tom Sawner knows firsthand how important it is to learn entrepreneurial skills. “It’s very important to prepare for an unexpected opportunity, because it will always arrive. Unfortunately, many times we aren’t ready to take advantage of it,” says Sawner, CEO and owner of Educational Options in Arlington, Virginia. “Our best marketing tool is happy customers.”

Small businesses are increasingly recognized as driving forces in the U.S. economy, and the Chamber and its Small Business Council are dedicated to helping these businesses succeed.

Chamber "U" is a web resource center designed to provide relevant and useful information. Its contributing authors are business practitioners offering information, knowledge and advice based on their education, training and business experience.

If you are a member of the Nashoba Valley Chamber of Commerce and would like to be a contributor to Chamber "U", please email your request for consideration to director@nvcoc.com

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