Experiential learning theory and hybrid entrepreneurship: factors influencing the transition to full-time entrepreneurship

Abstract

Purpose Through the lens of experiential learning theory, this conceptual paper examines the factors influencing the likelihood of transitioning from hybrid to full-time entrepreneurship. It is critical to evaluate the experiential learning that takes place during the hybrid phase, in order to establish a more nuanced understanding of the dynamic entrepreneurial journey. Design/methodology/approach This conceptual paper made use of a secondary data analysis of the existing academic literature, in particular using a thematic analysis, in order to propose a conceptual model and associated propositions. Findings The proposed conceptual model identifies four factors: fear of failure, perceived risk, entrepreneurial competency development and self-efficacy that are predicted to influence the transition decision. This paper establishes hybrid entrepreneurship as an effective learning ground and path toward full-time entrepreneurship. Practical implications Providing insights into the factors that influence the transition, allows policy makers to establish systems and incubators to support hybrid entrepreneurs reach the tipping point at which they have sufficient knowledge to enter full-time entrepreneurship. This paper establishes the importance of developmental policies aimed at encouraging hybrid entrepreneurship. There are also implications for managers of hybrid entrepreneurs to establish policies that encourage a culture of transparency and reap the benefits of enhanced employee development. Originality/value The paper has three predominant sources of value. First, offering a multidisciplinary approach by extending an existing theory to a new context; second, through the establishment of a conceptual model, offering propositions readily linked to hypotheses for future empirical assessment and third, enhancing the visibility of hybrid entrepreneurship in the literature to encourage public policy intervention and support.

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