Coaching is increasingly used to support entrepreneurs across different stages of the entrepreneurial process. Due to its custom‐tailored, active, and reflection‐oriented approach, it has been suggested that it is particularly well suited to entrepreneurs’ complex job demands. However, in the entrepreneurial context, the term coaching lacks a clear definition and is frequently used interchangeably with other types of support. We therefore sought to characterize entrepreneurial coaching (EC) and to position it relative to related interventions. We conducted 67 interviews with coaches ( n = 44) and early‐stage entrepreneurs ( n = 23) experienced in EC. Using qualitative content analysis, we specify outcomes, input, process, and contextual factors for EC. Among process factors, we identify seven coach functions that reflect specific coach behaviors. Contextual factors include entrepreneurial job demands and institutional boundary conditions of “embedded” EC. Based on our findings, we position EC within a two‐dimensional framework, consisting of the expert‐ versus process‐consultation approach and the individual‐work‐venture focus. We locate the seven coach functions within this framework. Relative to other interventions, EC stands between classical workplace coaching and start‐up consultancy, closer to, yet distinct from, entrepreneurial mentoring and executive coaching. We derive practical implications for coaches, entrepreneurs, and organizational stakeholders and propose directions for future research.
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