The Sweet Life

Rachel Thebault went from investment banker to baker. By living her passion she’s enjoying a very sweet life.

For those who’ve acquired an education and built a career in a specialized field, making a major change can be unsettling—especially if you’re uncertain as to what the change should be. Rachel Thebault knows the feeling. After majoring in economics and working for Merrill Lynch and Bank of America as an investment banker, the long hours and hectic travel schedule had Thebault rethinking her career choice. “It didn’t allow me to have a lot of my own time outside the job,” she says. And while she wasn’t sure what she wanted, she knew she had to explore her options.

Ultimately, it was a pastime that provided the inspiration for a new life. “I’ve loved to cook and bake all my life,” Thebault says. When friends began asking her to make chocolate treats for their weddings and parties, she turned her passion for sweets into a money-making hobby. Today Thebault owns Tribeca Treats, a specialty bakery in New York City. How did she make the switch from banker to business owner/baker? Here are a few of the steps she took to turn a fledgling dream into a successful reality:

Know Yourself
Thebault was working full-time-plus workweeks when she decided she wanted to pursue a career change. So she wouldn’t be dissuaded by her boss to give up that dream, she put down a deposit on culinary school before letting her office know she would be leaving. She gave ample notice, helped transition in the new employee and left on very good terms.

Also, perhaps because she knew her banking career wasn’t the perfect fit, Thebault and her husband kept their living expenses in check. “My lifestyle wasn’t dependent on my income,” she says. That reality made it possible to try something new.

Take Baby Steps
Thebault’s first child was born shortly after she completed culinary school. “I took the first few months off,” she says. “I had no idea what I wanted to do, and I didn’t know what kind of commitment running a business and motherhood involve—it was a little unsettling.” The question of how to balance motherhood with business ownership kept resurfacing.

So, she started small. Thebault rented commercial kitchen space and started a custom catering business. She marketed well and began to build a reputation, but kept her business on order-only basis so she could plan her schedule. Ultimately, Thebault decided she wanted to work full time. Using her own money and a loan from her family, she opened Tribeca Treats.

And in keeping with that theme, she turned down business to avoid getting in over her head. “Several big retailers wanted us to wholesale to them, but I said no because I was just opening,” Thebault says. “I’m glad I said no; it was a better business decision than biting off more than I could chew.”

Get the Word Out
Marketing is critical to any businesses success. “I hired a publicist from the beginning,” Thebault says. “It was an expense, but it’s been worth it.” So much so that her business was busy from Day One. “The day we opened, we had reviews in local newspapers.

She offers a word of caution from her experience. “Because we had such a great response and so much marketing when we opened, we didn’t have time to work out the kinks. For example, people were asking about delivery, but we hadn’t even thought about it.”

Manage Your Expectations
When people comment to Thebault that they would love to be their own boss, she offers a reality check. “I’m the most difficult boss I’ve ever had. You expect so much out of yourself,” she says. From working upwards of 80 hours a week to taking only four days off when her second daughter was born, Thebault is tough on herself. The difference, she says, is that she’s working on her terms. “It’s not always easy or glamorous. And there are lots of aspects to the job that I don’t like doing. But I have a passion for what I do.”

Build a Support Network
Being the boss can be lonely. Thebault says the advice and support she’s received from other female entrepreneurs have helped her expand her vision for her business. In particular, she’s benefited from the resources and relationships she’s discovered through the Make Mine a Million $ Business program.

As a 2008 award recipient of the program, she says one of the best pieces of advice she’s received is to “‘Stop working in your business and start working on your business.’ It’s so easy to spend time doing the day-to-day stuff,” Thebault says. “To grow, you need to free up your time so you can figure out what you want to do to get to next level.”

And as for that pesky word balance, her family is its own support network. “To use a baking term, it’s less of a balance and more of an emulsification. My business and my family are not wholly separate; the business is part of our lives, and our family is incorporated into the business.”

Rachel Thebault’s Party Planning Tips

Plan your dinner party a week in advance.
Spend half an hour to an hour a day in preparation. Work backwards getting the shopping done, and then focus on more immediate tasks as the party date and time draw closer.

Don’t overlook dessert.
“You don’t have to make something lavish and plated,” Thebault says. “But it’s nice to have something to linger over.” A small plate of desserts, mini cupcakes, chocolate, cookies served with coffee, or wine offer the touch of sweetness needed to make the event truly delicious.

Additional Reading

• Reinvent Your Career: Success Tips from Teresa Carleo
• Home-Grown and Nationally Known
• It’s Not Enough to Be Noticed