The development of entrepreneurial management skills by owner-managers of existing small firms has been neglected in comparison with the attention paid to new venture entrepreneurs. However, the survival and growth of small firms is vital in regional economic development. Many small businesses are vulnerable in the period after start-up, or when faced with changes in the market, competition or technology. This article explores an innovative approach to the development of owner-managers of small firms through the "Achieving Business Focus" programme, which is based on entrepreneurial learning rather than training perspectives. The article summarizes the relevant literature to distinguish between training and learning approaches to owner-manager development. The development of an innovative approach to opportunity-centred entrepreneurial learning is described, including its objectives, design, structure, marketing, delivery and use of technology, and the partnership between the university and the private-sector delivery team. The author addresses four key questions. How can an effective intervention be designed and delivered to enable owner-managers to develop their entrepreneurial management capabilities? How can this be delivered effectively by a university to meet the expectations of Regional Economic Development agencies, entrepreneurs, the university and other stakeholders? How can the impact be evaluated? What are the transferable lessons for developing, delivering and sustaining this type of intervention? (Contains 2 tables and 1 figure. ABF evaluation tables are appended.) [This article was produced by IP Publishing Ltd., London, UK.]