Author: Put compassion in your entrepreneurship
Compassion can stir entrepreneurship in the unlikeliest of places – prison, Karen Gedney, a retired Nevada State Prison doctor and now author, told the March meeting of Entrepreneurship Nevada.
She cited inmate programs based on three elements of successful entrepreneurship: person, idea, and resources, the last, resources, built by using compassion as a positive element in a punishment-based setting to better prepare inmates for post-prison life.
Gedney, author of “30 Years Behind Bars, Trials of a Prison Doctor,” told of one Nevada inmate, inspired through compassionate entrepreneurship, who read 167 books, wrote articles for Entrepreneur magazine and is now back in society working in the computer software business.
She also cited an MBA program in the Texas prison system that has graduated 1,000 inmates who after release have formed 165 businesses, two of which gross over $1 million in sales. And the resulting reduced recidivism rate has saved $6 million in prison costs.
That same “compassionate” entrepreneurship, Gedney believes, can apply to any business endeavor, resulting in more loyal employees as well as more loyal customers.