Emancipatory entrepreneuring—actions aimed at freeing oneself from constraints in work and life—reshapes entrepreneurs’ lives and influences how they view themselves as entrepreneurs. Despite its importance, this topic remains insufficiently examined. In this conceptual article, we integrate research on entrepreneurial discovery and emancipatory entrepreneuring to propose a typology describing how emerging entrepreneurs undergo entrepreneurial transformation, thereby extending existing understandings of entrepreneurial identity formation. The core contribution is the articulation of four forms of entrepreneurial transformation (minimal, career, personal, and existential), each involving shifts in one’s personal domain, professional trajectory, or both. The fourth category—Existential Transformation—reflects the most profound degree of change in both personal and career spheres. Within this quadrant, emancipatory entrepreneuring appears as a deeply agentic undertaking, where individuals simultaneously reshape who they strive to become and pursue a venture that aligns their working life with their desired sense of self. We outline each of the four transformation types, discuss what prompts them, and consider theoretical and practical implications.
