Momofuku’s Chang diversifies into home food delivery
By Liao Xiangjun
As the awardee of Entrepreneur of the Year 2013, Paul Loo, owner of The Cocoa Tree, explains that it is more than a plain business. Loo was unsuccessful in getting into the restaurant business due to failed commitments of key personnel like the chef, but that didn’t put him down. As a fighter and a man of wisdom, Loo started a small business with his wife by going into something that is logistically easier and more workable. That was when he started the miniature version of The Cocoa Tree in being the sole distributor for chocolates and candies for top international brands. From then on, he went on to networking at various occasions to expand his business in gathering more brands and product ranges. Loo is truly visionary when it comes to business acumen and he has shared with us some tips for aspiring young entrepreneurs who would like to share his success as well. He recommends that one should work for a couple of years to gain experiences in running a business, and to save up for capital. Aim for an industry that you are comfortable with and knowledgeable in, especially one where competition is not as stifle for easier access. You have to be motivated and you have to be prepared to work your way through all obstacles. Especially when you have workers relying on you, you should share the profits, to ensure that you are all working with one heart and one vision. Employees should not worry that they would lose their job anytime. It was an interesting conversation with Loo where you gain insights and a lesson in business, much more than what you have in books. Success is not definite, but success is attainable.
