This paper extends understanding about socio-cognitive frameworks of entrepreneurial learning (Cope and Down, 2010; Kempster and Cope, 2010; Ofstein and Renko, 2011). In particular, it builds upon the socio-cognitive framework of Bandura (1977) to generate insight into processes of observational learning and how these relate to entrepreneurship. While Bandura’s (1977) work has been linked with particular outcomes of observation such as entrepreneurial intentions (Mungai and Velamuri, 2011; Ofstein and Renko, 2011; Scherer et al., 1989) or self efficacy (Wilson et al., 2007), we argue that Bandura’s (1977) framework is equally appropriate to generate understanding about the processes associated with outcomes.