The study examines antecedents and outcomes of deliberate practice activities in South African small businesses. Deliberate practice consists of individualized self-regulated and effortful activities aimed at improving one’s current performance level. Interview and questionnaire data from 90 South African business owners showed a direct impact of deliberate practice on entrepreneurial knowledge as well as an indirect effect on business growth via entrepreneurial knowledge. Cognitive ability and education were identified as antecedents of deliberate practice. Findings underline the importance of continuous proactive learning efforts in small business. The results of this study are relevant for policy makers, consultants, and credit providers.