He's driven by passion

		Thursday, Dec 22, 2011 The New Paper (Singapore)
He's driven by passion
LOCAL actor Terence Cao believes in being passionate about what you are selling in order to convince others to buy into it. The MediaCorp artist is the co-owner of HeyHey Hotpot in PoMo shopping mall at Selegie Road. He invested $200,000 in it. Other celebrity entrepreneurs Click on thumbnail to view He told The New Paper: "In 2005, my friend from Hong Kong and I realised that there was no good place to have Hong Kong-style steamboat in Singapore. "Hong Kong steamboat is done in a more elaborate and painstaking manner, for example, double-boiled soup (which is cooked over indirect heat in a sealed container)." Cao's extensive homework for HeyHey Hotpot was reflected in the way he and his partners hired two chefs to experiment with and refine steamboat recipes every day for three months. Cao, 44, and his partners made sure they sampled their handiwork every Friday during that period. He said: "I appreciate the effort that goes toward making a great meal. Good hearty soups, which I feel are an irreplaceable component of steamboat cuisine, are not easy to prepare. "Once you have that, it's much easier to cook good steamboat fare." He declined to reveal the financial health of the restaurant, saying only that takings vary widely between months. He also declined to reveal his income, saying that it is a "very sensitive issue". Cao joked: "If I say too much, the income tax man will kill me! "There will always be value in money. What differs is how much emphasis you place on the importance of money. "What is more important is how people remember HeyHey Hotpot. "That will determine if it becomes a successful restaurant or even a chain of restaurants." Cao said that HeyHey Hotpot has a database of more than 4,000 past customers who have left their personal details. Self-confessed foodie He said: "I dream of a time when Singaporeans feel that they will make it a point to have HeyHey Hotpot once a week." Cao is a self-confessed foodie who will hold "nothing back" if the food is good enough. He said that he once spent $700 on a truffles-laden Italian dinner for himself and a friend. HeyHey Hotpot, which opened in 2005, is Cao's most successful venture to date. He wasn't so lucky before. More failed celebrity businesses Click on thumbnail to view Restoran Selayang, the chain of roasted meat food outlets which he opened in 2009 with MediaCorp actor Zhang Yaodong and MediaCorp stunt coordinator Kong Xiang De, folded a year ago. Declining to go into detail about how much he lost, Cao said: "When it went under, my partners and I realised that we were not ready to operate an eatery of that level (with multiple outlets). "Furthermore, we operated at a time when the economy was bad and the local food court scene was changing very fast. "With rising labour costs and the increasingly fickle tastes of Singaporeans, customer loyalty is not what it used to be. "We haven't thrown in the towel yet completely (on Restoran Selayang), because of the positive feedback we received. "We're planning to reintroduce it if we can find the appropriate situation to do so." Cao observed that many Singaporeans make it a point to invest their money - most commonly in property - while still focusing on doing well in their jobs. "When I was younger, I had a more impetuous, nothing-to-lose attitude. I was a pretty stubborn and optimistic person, and still am to some degree." However, his priorities have shifted. "I've realised that having a good companion to share your life with is very important. "I'm ready to date. In fact, I'm very, very single!" Cao said, adding that he has got over his cancelled engagement last year to an accounts executive in her mid-20s .