Lily Wu on how she started Austern
How she came to love business through an artists’ family
What was your childhood influence like?
Born into an artists’ family where both my parents did a Masters of oil painting at COFA (because you obviously need a Masters to draw), and my brother doing graphic design, I was naturally more right brain inclined. To my younger self, accounting and business were for boring people, not for creative souls like me. A decade down a track, in entering university and enthusiastically deciding to choose the exact subjects that previously would’ve repulsed me, it was not surprising that my parents stared at me in disbelief saying, “I thought you wanted to do something more exciting like journalism or at least do design in Japan. Why are you picking business, isn’t that boring?”
What was the turning point that led you to entrepreneurship?
To be perfectly honest, it never started off as anything altruistic, saving the world or even anything that meaningful. The reason I became interested in starting in business was actually a fight for survival when I was 15. My parents went on a 3 month trip, leaving me with $100. As a high schooler, I thought $100 was a heap of money until it ran out a few weeks later. As my friends started to get part time jobs at Maccas and KFC, I thought I would also try my hand at getting some extra cash lest I starve. Unfortunately, I was rejected from every single Maccas and KFC I applied for.
A turning point was when I was chatting with a friend and she told me about a wholesale website where she would get her mum to order clothes for her. It changed my life forever. That website is now famously known as e-commerce giant, Alibaba. Within an hour, I set up a new Facebook profile called “Cristaux De Gelee”. Don’t ask me how I came up with that name. I started buying Nike, Adidas JS Scott shoes for $40, selling them for a base price of $80 and telling my friends to help me sell for however much they wanted. Some would subsequently sell for $150 and make a $70 profit. That business started rolling and before long, I was recruiting friends to help me be distributors.
Even when I quit selling shoes when senior school started, one thing stayed with me. I knew that whatever problems I would face or what the world was facing, there has to always be smarter and better ways in doing things where everyone could benefit.
What led you to start Austern International?
I founded Austern International as a 19 year old to encourage more students to become globally enabled. As a current 3rd year university student now, I am really passionate about how my generation as milleniums are walking into a rapidly changing society. Our generation has been trained in skills since childhood for industries that are going to be replaced by technology or automated in a few years. And many of us are nowhere near prepared.
The word “entrepreneur” is still for a majority of students a niche and untreaded ground, at least for many here in Australia. Our value and passion at Austern is to enable students to think less like an employee and more innovatively and freely not only through meaningful and amazing mentorship, but also being able to solve problems and create projects through design thinking.
I think this is a good foundation and stepping stone for them to consider entrepreneurship as a possible future option. At the same time, for those who don’t want to start their own thing, many businesses we have talked to like Deloitte, Dropbox, AMP are increasingly looking for “intrapreneurs” who can demonstrate these traits of an entrepreneur, e.g. identify problems and create solutions but within the guidance of an already established company. Less is the emphasis on the hard skill and what you know mentality but more emphasis on the adaptability of changing situations and circumstances.
How did you meet Jamie and get her to join Austern?
I first met Jamie at church when I first became a youth leader on Friday nights. We instantly hit it off. She previously founded an education business a lot like Austern but for kids which is now running smoothly in Beijing. This synergy was match made in heaven. Her focus and faith on growing Austern to be an international company, to really match the name “Austern International” only made me more determined and sure that having her as a co-founder would be the perfect choice to achieve the Austern dream. Two weeks after discussing Austern with her, she quit her job, turned down a senior executive position and joined forces to make our vision come true. I cannot express how grateful I am for such a dedicated individual like her to join me.
What are some of the hobbies you like doing in your spare time?
As a child, I loved to draw, and still have a crazy obsession over detail especially when it comes to architecture. Early January 2014, I held my first solo art exhibition at Chatswood Concourse Art Space called Diary of Dreams. Aside from drawing, I love to dance, having previously competed in Italy and Shanghai for ballet. My newest hobby is Taido, a Japanese martial arts at UNSW where our team will be going to Japan to compete in September this year.
Austern International is expanding. We’d love for you to join our program.
