In this paper, we criticize the current practice in entrepreneurship research and discuss options for a reorientation. Against the backdrop of a brief historical review of research on the entrepreneur and entrepreneurship, we develop six theses on the deficits of current entrepreneurship research. We point out why it has not been possible so far to establish entrepreneurship research as a consistent discipline. Moreover, we identify the mechanisms active in large parts of current entrepreneurship research which systematically constrain researchers in delivering useful results. As directions for the future development of entrepreneurship research, we discuss both different possibilities for incremental adjustment and a radical reorientation.