Global Trade Get the skinny on how you can start an international business in college.
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You're aching to start a business in college-and you'realready thinking global. If you want a company with aninternational presence, listen to the experts: It's going totake serious research and planning. "No two nations orinternational market opportunities are the same," says SherryHoskinson, associate director of the Karl Eller Center/ McGuireEntrepreneurship Program at the University of Arizona in Tucson.She notes that students starting international businesses face thetypical startup challenges as well as issues concerning taxes,trade law, currency conversion, language translation and culturalunderstanding (just to name a few).
Lin Miao and Blake Liguori are familiar with those challenges.Miao and Liguori, both 19-year-old sophomores at Babson College inBabson Park, Massachusetts, decided to go global when theyofficially launched 7DollarStuff.com, an online emporium of posters thatsell for about $7, in July 2005. They then opened an eBay Store foradded exposure. While marketing the low-cost décor to theirfellow U.S. dormitory dwellers, they wanted to sell to young peoplein the United Kingdom as well. "[We thought], If this works sowell in the U.S., why can't we do this internationally?"says Miao. In fact, eBay users often asked the pair if they wouldship internationally to places like Canada, the UK and otherEuropean countries.