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Caroline Tran is the co founder and CEO of Aircrex. Is an online banking program that helps people keep full track of their expenses and allows people to achieve their goals quicker. Caroline worked in commercial finance for the past 8 years. She is also a qualified CPA. Caroline has also worked for a lot of corporates as well as universities across Australia.
What was your journey like creating a startup as well as being an Asian female entrepreneur in Australia?
Having experience as a guest speaker in many universities, Caroline realised that a lot of millennials and younger generations have no idea what they are doing with their money. She started thinking of better solutions that can solve that issue and did not find anything on the market. This is when she decided that she would create a platform of her own.
Caroline’s advice for start ups would be to find a problem and create a solution. There is no need for people to use your product if there are other options. She also mentioned that it is important to get a person on board that has experience working in a similar field or on a similar project in order for the business to blossom.
Given your background in finance, why do you think it’s important that society and the youth incorporate finance into their daily knowledge?
There are so many people that do not understand the basics of saving and don’t have the fundamental knowledge of how to manage money. Caroline mentioned that people have great ambitions when it comes to what they want to achieve in life; most of the time, those goals are achieved through having enough money in your bank account.
2020 being the start of the Covid-19 pandemic, people were left in a big financial struggle. What would be your advice to prepare better for the next global issue and not be caught off guard financially?
Caroline’s advice would be to have a backup plan. Just like you plan for earlier retirement or a vacation, you should plan for a situation where you might need to cut back.
If you could leave the youth with one piece of advice, what would it be?
Networking is very important so make sure that you are talking to as many people as possible.