The heterogeneous process of entrepreneurial learning by doing

While it is generally agreed that the performance of new ventures is strongly influenced by entrepreneurial capability, whether entrepreneurial capability can be enhanced through learning-by-doing (LBD) has been supported by conflicting evidence. This paper employs experiential learning theory to frame an empirical study of processes by which entrepreneurial experience is transformed into generalizable entrepreneurial knowledge that enhances entrepreneurial capability. The results show that entrepreneurial LBD is heterogeneity across individuals and is most sensitive to experience among entrepreneurs with a high educational ability and diversified occupational experience. These results, which help reconcile the conflicting results found by previous studies, have implications for both theory and practice.