Experiential learning theory states that reflection is just as important to learning as action. However, business educators often overlook reflection in their experiential learning activities, especially when it's understood as a dialogue process. Drawing on reflective learning theory, we explored the case of an undergraduate business programme that has been combining experiential learning with three different reflective learning mechanisms for the past ten years. Results show that: (1) reflective dialogue is central for ensuring that impressions from experience translate into better-defined learning outcomes, (2) this dialogue process greatly benefits from a closely guided process, and (3) different reflection mechanisms contribute differently to the learning process. Considering how fast experiential learning has popularised in business schools, this study alerts educators to the importance of combining their experiential learning activities with a guided process of reflection. Otherwise, educators risk students extracting meagre, wrong or misleading impressions from their experience.