Making Millions by Ignoring the 'Normal Way'

When sociologist Mary Godwyn was doing research on the clientele of the Small Business Administration's Women's Business Centers, she found minority and low-income women starting ventures that did more than simply make money for the individual owners: They also delivered significant benefits to their communities. Next month, the book Godwyn co-authored on that research, Minority Women Entrepreneurs: How Outsider Status can Lead to Better Business Practices, will be published.It includes research revealing that minority female entrepreneurs are both more creative and more concerned with giving back to larger society than Godwyn expected. Godwyn, an assistant professor of sociology at Babson College, spoke recently with Smart Answers columnist Karen E. Klein. Edited excerpts of their conversation follow.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.