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The paper follows Jason Cope's (2011) vision of a holistic perspective on the failure-based learning process. By analyzing the research since Cope's first attempt, which is often fragmentary in nature, and providing novel empirical insights, the paper aims to draw a new comprehensive picture of all five phases of entrepreneurial learning and their interplay.

The study features an interpretative phenomenological analysis of in-depth interviews with 18 failed entrepreneurs. Findings are presented and discussed in line with experiential learning theory and Cope's conceptual framework of five interrelated learning timeframes spanning from the descent into failure until re-emergence.

The study reveals different patterns of how entrepreneurs experience failure, ranging from abrupt to gradual descent paths, different management and coping behaviors, and varying learning effects depending on the new professional setting (entrepreneurial vs non-entrepreneurial). Analyzing the entrepreneurs' experiences throughout the process shows different paths and connections between individual phases. Findings indicate that the learning timeframes may overlap, appear in different orders, loop, or (partly) stay absent, indicating that the individual learning process is even more dynamic and heterogeneous than hitherto known.

The paper contributes to the field of entrepreneurial learning from failure, advancing Cope's seminal work on the learning process and -contents by providing novel empirical insights and discussing them in the light of recent scientific findings. Since entrepreneurial learning from failure is a complex and dynamic process, using a holistic lens in the analysis contributes to a better understanding of this phenomenon as an integrated whole.