The aim of this article is to make a contribution to understanding the ethos of action learning, by exploring how it was influenced by the early family experience of Reg Revans as the originator of action learning. In order to do so, it examines what is meant by the term 'ethos of action learning' in terms of its values and beliefs. The paper identifies in Revans' early family life 7 underpinning values that found their way into action learning as it later emerged as a viable practice and 7 guiding beliefs. In the light of these findings, it discusses a range of issues including the definition of action learning and, therefore, what counts as action learning, the practical uses of self-knowledge and the differences between cleverness and wisdom. The paper concludes by asking some fresh questions about action learning and its development.