Theo Stephan Update: Hanging On To The American Dream
By: Jane Wells | CNBC Reporter
Last month I profiled small businesswoman Theo Stephan, the daughter of immigrants who was born with an entrepreneurial spirit and a firm belief in the American Dream.
Her business, Global Gardens, www.oliverevolution.com, sells high end olive oils in the wine country of Santa Ynez, California. She was looking to expand--but not only was there no credit to be found, she was concerned that current cash flow might prevent her from doing a run on her gourmet mustards for the holidays, a key item for a key time.
It's been an interesting six weeks. Many small business owners can empathize with Stephan's tales of promising offers which disappeared, calls that were returned once--giving hope--only to never be returned again.
- Theo Stephan: Living The American Dream, Even Now
Still, she's surviving, and maybe even thriving. Here's her latest update to me:
"Things are good, Jane! Business has grown enough by itself for me to do the mustard run. I am going to end the year on the upside, and I have two local investors willing to give me the line of credit. We are working out the details. One of them has hired me as a consultant to plant a significant olive grove in the region--so they have vested interest in my longevity...
I have so much excitement for 2009. The club is growing; people want to eat healthy and with their families. I've lost a lot of corporate clients this year with companies cutting back on giving...but individuals are still eating and I am still believing."
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