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Entrepreneurial experience alone may not necessarily guarantee venture success. Some entrepreneurs develop into experts through learning from their experiences, whereas others fail to do so. To explain the missing link between experience and expertise, we introduce a social-cognitive model of self-regulated entrepreneurial learning (SREL) to demonstrate how entrepreneurial expertise can be systematically developed to increase the probability of entrepreneurial success. We identify key self-regulatory learning processes essential to entrepreneurial learning by developing propositions and related practice-oriented applications of the SREL model for entrepreneurs.

From entrepreneurial experience to expertise: A self-regulated learning perspective