Let Me Transform You: Introducing Transformative Experiences in Entrepreneurship to Refine Uncertainty

Abstract

ABSTRACT The relationship between entrepreneurship and uncertainty is ambivalent: while uncertainty creates entrepreneurial opportunities, it simultaneously poses a fundamental challenge. Despite extensive theorizing, conceptual ambiguity persists regarding the locus, origin, and behavioral implications of uncertainty in entrepreneurship. This conceptual paper introduces the notion of transformative experiences (TEs) to enrich this discourse. TEs are experiences that are both epistemically and personally transformative. They alter individuals' knowledge and identities in ways that are neither accessible nor predictable ex ante. We argue that the uncertainty associated with TEs does not primarily stem from subjective perception, ignorance, or external environment. Instead, it arises from the potential of an unpredictable transformation of the decision‐maker. This perspective adds a novel angle to the debate on the locus of uncertainty and extends knowledge problems beyond factual limitations to include qualia‐related dimensions. We further show that under conditions of TE‐induced uncertainty, traditional mitigation and coping approaches, such as information gathering, theorizing, or experimentation, may prove inadequate. To address this issue, we propose an action‐oriented stance grounded in an attitude of “not wanting to know” and not trying to minimize uncertainty. The paper concludes by outlining avenues for future research on the role of TEs in entrepreneurship, with particular attention to decision‐making strategies, decision outcomes, and outcome evaluations.