Dual IR/Business degree..then wat?

[leggomygreggo]

I am still in Highschool, but i am trying to get into Boston University because they have a dual degree of Business admin and International Relations. I have always wanted to be an entrepreneur but lately i have gotten into the world of International Relations. I recently decided that i did not just want to run some mom and pop store. I want to make at least a little difference in the world.

I was just wondering what kind of businesses can be started up with this kind of degree or if it is not worth going for. thank you for your time.

[radreality]

Well, you don't need a degree. I chose to not go after a degree, it wasn't worth the time and money, according to my goals.

You just have to evaluate what your goals are. A degree is nice so you can get a good job to fall back on if entrepreneurship doesn't workout for you.

Education is good, but there are tons of ways to gain knowledge, college is just one of many resources; and you should look at it like that. Don't think that using only one resource (such as college) will prepare you to be successful. You need to utilize as many resources as you can.

[leggomygreggo]

im not so much worried about the degree..but the degree made me think. I really want to start my own business but i also want to work with international relations. I just dont know how i can incorporate international relations into entrepreneurship. I just need some ideas of what i can do with that.

[akula]

give me an example of international relations

i can't decipher whether you're studying diplomacy or pr

[nordicnomad]

give me an example of international relations

i can't decipher whether you're studying diplomacy or pr

Diplomacy is a good way to think of it. There's a little more to it than just negotiating treaties and trade agreements, but a lot of diplomats and state department types studied International Relations.

As for the thread starter, have you looked into an import/export type of business? It requires a lot of the skills and knowledge that you get from that course of study, knowing who you need to deal with in foreign governments, negotiating exclusive contracts for export, and basically just understanding culture and how people get along and do business outside your home country.

A lot of people don't have the patience to work their way through that extra hastle to get the products sitting unexposed to the world in various countries. Hence there is a big market for someone to act as an intermediary and smooth things out for both sides. Look into it.

[leggomygreggo]

Thanks. I will look into that.
But i kind of have always wanted to make a difference in the world. But i want to start my own business. LOL im not sure what i want to do. Will some kind of non profit business work? But will i really need international relations for that? SOrry if im being confusing, i just really want to do both! Are there any businesses where i can make a difference in the world by starting my own business?

[radreality]

in my opinion, everyone who starts their own business is making some sort of a difference in the world. Here in the US the entrepreneurial spirit is what makes our economy so strong and stable. More competition has always had positive effects on an industry over the long term.

It all depends on what your goals are. What type of a difference do you want to make in the world?

[nordicnomad]

Thanks. I will look into that.
But i kind of have always wanted to make a difference in the world. But i want to start my own business. LOL im not sure what i want to do. Will some kind of non profit business work? But will i really need international relations for that? SOrry if im being confusing, i just really want to do both! Are there any businesses where i can make a difference in the world by starting my own business?

Start a for profit business that gives people something they need or want, and then use m/billions from that to fund various nonprofits as a tax shelter and to justify your fabulous wealth.

That's the formula most rich people follow. It's even common now a days to work social causes into your business model like Starbucks and Timberland do.

Just don't start with a nonprofit, it'll eat all your time, you'll come to resent needy people, and you won't make your own life any better... Kind of like probono lawyer work, there's a reason people start out there and move to power firms when they're sick of it.

[leggomygreggo]

Thanks man. That makes a lot of sense. So, what kinds of businesses deal with importing/exporting? Right now I am working on an entrepreneur business plan thing for DECA at my school and would like some help trying to think of businesses that are feasible for this kind of thing.

[The Stealthy One]

To determine importing/exporting opportunities, look at supply and demand. What is well-supplied in one part of the world, and under-supplied (with high demand) in another? Once you can locate an opportunity like that, your job is to move product from the first place to the second.

[leggomygreggo]

That is a great idea. Thank you very much. But where would i start on trying to find something that is under-supplied in one part of the world?

[radreality]

Thanks man. That makes a lot of sense. So, what kinds of businesses deal with importing/exporting? Right now I am working on an entrepreneur business plan thing for DECA at my school and would like some help trying to think of businesses that are feasible for this kind of thing.

Are you doing Entrepreneurship Participating or Entrepreneurship Written? Have you done this before or is it your first time? I've done both. I made it to the second round at Internationals for Written my senior year (2002). If you want any tips, just ask.

[nordicnomad]

Like TSO said there are a couple of options when looking for where, how, and what to do with an import/export business.

1. look around your area for commodities that are hard for businesses to procure, needs that are not being met, or things you notice in neighboring regions but not your own. An example I read once was a guy that worked in a chinese food restaurant in Wisconsin overheard one day that it was hard for his boss to buy the kind of rice he needed, after researching and finding that this was a common problem for all chinese restaurants in the area he found a distributor over seas, set up a contract, and imported the rice to his area and sold it to the restaurants. This kind of Import/Export opportunity is basically connecting the supply with the demand that can't find each other due to distance or ignorance.

2. travel or research online to find unique items to a country that you think could be appreciated in the US, or just marked up due to distance and rarity. An example would be a friend of mine that bought a couple hundred rugs from northern iraq when he was there in 2003. If got a machine woven one since it was cheaper ($120), but he purchased the handwoven stuff for a bit more ($1000-$3,000). He got home at the end of his tour and had the stuff appraised and some of them were worth more than $50,000 in the states. Basically the opportunity here is that labor and craftsmanship, quality, and uniqness are a lot cheaper in some places than they are in the developed world or the exotic nature of an item means its worth a lot more far away from its place of origin. In Iraq, every one had several or more rugs in each room of their house, they use them as covering for their dirt floors. They're not worth a lot because they're everywhere, warehouses full of the damn things. Here we have these silly wood and tile floors and don't make rugs out of silk.

3. You get ahead of a fad by looking for whats popular in other cultures and seeing if you can bring it into your own. An example of this is pokemon, all kinds of liquer like Tequila, and even Ikia furniture from Sweden or where ever it is. Look at the top sellers or cultural icons in countries around the world and see if they could work here. The funny thing about americans is that we absord the cultural identities of others very easily, but then we also force our culture upon others. This kind of opportunity is rare, but if you find one the growth and reward can be explosive.

Hope this helps some. These are just places to look and things to look for, the real key is to buy low and sell high. That's it. Buy it cheap, don't spend a lot getting it here, and then sell if for as much as people are willing to pay... Which should be a lot more than you bought it for. Good luck.

[leggomygreggo]

Thanks that really helped. I will look around my community for these opportunities.

And to rad reality, i am doing the written part where you have to make up your own business plan. I have never done this before but would definitely like all the advice you can offer me.