Anna Laros examines the transformative learning processes of female entrepreneurs with migration backgrounds before, during, and after their business establishment. Using the methodology and method of Grounded Theory, she elucidates how these entrepreneurs change their perspectives of significance across four learning phases and how a professional self-understanding evolves into an entrepreneurial one. The discussion of the results is based on Jack Mezirow's theory of transformative learning. The study sheds new light on the theory of transformative learning and provides a theoretical foundation for the further development of transformative adult education.