Randall Castillo Ortega discusses the benefits of a personal brand for growing a business

Business and trade expert Randall Castillo Ortega dives into the ways creating a personal brand can help businesses expand their operations and gain a stronger reputation.

San José, Costa Rica – WEBWIRE



Business owners need to be successful in branding and individual marketing. No matter what business type you have, branding is about people making their professions known and helping businesses to sound good. Entrepreneurs can reach new professions by using individual marketing. Randall Castillo Ortega is a global trade expert who has been able to identify four elements that can help entrepreneurs build a stronger individual brand.


A brand can help you attract customers, potential clients, job opportunities, and other new opportunities. It is not as simple as it appears. It can be difficult to establish a strong connection at the beginning of your web-based journey. It requires a lot of self-advancement and substance to make it work.


Castillo believes that the brand must reflect the personality of the maker. Puig explains that entrepreneurs should follow the least resistance path if they are to build a brand. It is impossible to force someone to take it away, so believe what you believe.


Castillo also suggests you identify your personality traits and use them in creating the brand’s framework. This will help you create a friendly, consistent brand. He stresses the importance of highlighting both positive and negative qualities.


It is important to share your experiences online. Your social media presence is not a luxury. It’s an integral part of your personality and can be used to characterize the discernments of different groups on both a personal and business level.


It is essential that everyone has an online presence to showcase their best qualities, and build a network. Castillo says, “Sharing online experiences often inspires women to find their own qualities and helps them discover coaches by identifying other people’s interests. This allows them to stand out in their network and is essential for finding the right job opportunities.”


Online posts should be mirrored in real-life interactions. This individual is creating a false persona that will eventually be exposed. Puig suggests that you share your work to build a unique brand. Your brand is built and sustained by the proof you can provide to support your claims. You can build a bigger following by showing that a businessperson can back up their image with established truths and models.


Adds Castillo, “Internet-based lives require alertness. Anyone can see any post posted online. He advises you to be particularly aware of images uploaded via social media sites. Keep in mind that anyone can see what your posts are.” Castillo suggests that your open image should be complementary to the brand you are trying to build.


Personal branding isn’t something you can do quickly. It is a long-distance effort that takes time and effort. While it’s possible for personal brands to grow quickly, it’s rare. It can be frustrating for people who have worked hard for their personal brands for years but have not seen any results.


If you want to create a blog that combines your personal brand and your business, you will need to be disciplined. According to statistics, 95% of bloggers abandon their blogs within one year. The main reason bloggers abandon their blogs is a lack of motivation.


There is no quick way to success. It would be difficult for anyone to create a personal brand. It’s one thing to build your personal brand; it’s quite another to do it right.


About Randall Castillo Ortega


Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.

Randall Castillo Ortega of RACO Investments explains the importance of creativity in business

Randall Castillo Ortega, a business expert and the founder of RACO Investment, suggests reasons why creativity in the workplace is important to secure the success of the business.

San José, Costa Rica – WEBWIRE



To be successful in a company, creativity is essential. It doesn’t matter what business sector you are in, how the day is run or who the members of your team are. All companies require a lot of creativity. It must be part of our daily lives. We have to examine whether it is happening, how it is being fed, and then take actions and dynamics to bring back that creativity. It is essential that a business remains creative in order to be successful long-term. Randall Castillo Ortega, the founder of RACO Investment and a business process expert, discusses why.


Creativity does not mean only developing artistic activities. Castillo asserts that creativity is not just about developing an artistic activity. It is found when our thinking is trained for the ability to think outside of the box. Creativity can also be described as imagination. It is the ability to think outside of the box.


In a company, creativity is vital. We all need to know that our creative abilities are not only able to accomplish what they do, but also more useful, profitable, and effective. Creative thinking is key to achieving something faster, more efficiently, simpler, more profitable, and of course, more productively.


It is possible to do something that has been done well for years, but new eyes may see it differently, make some changes, and suddenly trigger effectiveness. The first principle is to allow others to have ideas and the second is to believe in and connect to our creative selves.


“Entrepreneurs must make sure they spend time and resources encouraging their team’s creativity,” explains Castillo. “This must be in line with company culture. Creative thinking requires a supportive environment. Creativity is not a flourishing environment that restricts freedom of expression or closes off opportunities for innovation.”


Without the right training, it is difficult or impossible to be creative. These trainings will give us the knowledge, strategies, and resources that we need to develop our creative thinking. This is just taking advantage of these elements and creating a new vision.


Like training, experience is the ability to work in something. This means that you can have it in your head day-to-day, keep it in your mind and see its potential. This will open up new possibilities for your brain. It’s similar to someone who does something every day (a marketing strategy, for example).


After a while, it becomes easier to find creative ways to translate the information, to solve problems, and so on. It is important to remember that attitude is key. We can stay in our comfort zone and stick with what we know so creativity has serious problems flowing. Or, we can move into the challenge zone and explore the unknown where creativity finds its development space.


It is obvious that workers who lack confidence in their company, their superiors, and their team to implement their ideas will not be creative. Adds Castillo, “Trust-based relationships and the Organization’s Directors are essential to allow for new ideas and to encourage people to do so. Trust allows you to connect with your natural talents, and it neutralizes the sabotage of creativity.”


All of this is important to encourage creativity in your company. However, it will be even more effective if you regularly hold activities that are focused on the creative aspect. Activities like Team Building are responsible for providing the tools needed to stimulate the creativity in every case.


Our lives are so digitalized that we don’t even use our hands to create. We only give the key to repetitive movements. Without realizing it, we are missing one of the most important physiological triggers for creativity: manual work. Because the brain loves to launch a movement, it must work in sync with the left and right sides of the brain, creating a chemical state that encourages creativity and flow.


As an additional and summation of the above, it is important to allow creativity to flow freely in the workplace. Also, be open to all sides, encourage curiosity, and help people learn and grow. However, creativity cannot emerge if it’s not based on values.


About RACO Investment


RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground. It has also contributed bridge loans to assist those looking to restructure or improve their operations. 

Randall Castillo Ortega discusses how to drive down costs of an import business

Business and trade expert Randall Castillo Ortega provides expert insight into how importers can reduce their costs without reducing their product quality or customer service focus.

San José, Costa Rica – WEBWIRE



Foreign trade is an area that presents unique trade opportunities. But, in this, as in any other sector, good management plays a key role in success. That is, it is not enough to rely on good products, good suppliers and good market niches – it is necessary to continuously look for strategies and solutions that increase competitiveness. One way to accomplish this is through cost reduction. Randall Castillo Ortega, an expert in global trade, provides insight into how to accomplish this.


Foreign trade operators should never overlook the possibility of importing products at lower taxes. It’s a great way for your business to lower costs and increase its competitiveness. Certain destinations offer tax reductions to encourage imports, which makes them cheaper.


Companies based in a country or territory may be eligible for the special regime. This can be used for direct importation as well as operations on account, order, or order. Also, even though the company is not located in the local economy, it may be eligible for tax incentives for using the service.


Import costs are mainly determined by the value of goods. It also serves as the basis for taxes paid in the country. The international supplier pays less than the country, which means that the final cost of importation is lower and taxes in the territory are lower.


Imagine that you are trading a product with a price difference of US$10.00 between China and the US. If you negotiate a 5% price reduction with the supplier, the product will be $9.50 at the origin. If you assume that the FOB tax cost is 85 percent, then $1.35 per unit will be saved.


It is a good idea to get to know the company with whom you do business. Castillo says, “This will help you to get a better understanding of the importance of your request for the supplier’s production.” This will also increase your bargaining power and mutual trust as you establish a long-term relationship with the business partner. It is not fair to lose a customer to the competition.


Foreign trade operators are still hesitant to explore secondary zones or dry ports. These warehouses, also known as dry ports, are located further from main borders, ports and airports but serve the same purpose of controlling entry and exit of import and export goods.


To facilitate the clearance of goods, secondary areas were created. Although they are far removed from traditional distribution centers, secondary areas have advantages in that they can store the goods cheaper and launch products faster.


The possibility to withdraw partial goods is another advantage, making these areas a sort of distribution center. This means that an importer could bring a container and store it in the secondary area. Then, you can release the rest of the merchandise. Taxes will be paid proportionally. This allows for better financial management. This is a great tool to reduce costs if used correctly.


Software that is specifically tailored for foreign trade is available. These tools are an essential strategy to lower expenses. Castillo adds, “Tools such as improved import management provide an overview of the process and help to avoid rework. This allows for more strategic activities. This reduces errors, which in turn reduces operations’ final costs.”


Smart management requires that you map out the deadlines for each stage. It is essential to have all original documents on hand before the ship docks. This will ensure that no delays are caused in the dispatch of products.


Software clearly and objectively indicates the current state of each step of the process. You can avoid making mistakes. You can lower costs by being more flexible and assertive in managing your resources.


Working with multiple clients and being familiar with the most complicated procedures in the sector will give you the ability to negotiate with all parties involved in the import process, especially with suppliers. A small or medium-sized business may not be able to place an order with a major supplier because they don’t have the financial support necessary to complete the minimum order. However, a commercial company can gather multiple companies into one order. This increases the supplier’s negotiation power.


About Randall Castillo Ortega


Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.

Randall Castillo Ortega explains the challenges for business leaders in foreign trade

Business and trade expert Randall Castillo Ortega offers insight into the challenges international trade businesses face and how they can be overcome to keep the business flowing.

San José, Costa Rica – WEBWIRE

Authorities have intensified import and export controls and increased foreign trade fines for non-compliance and omission.



International trade was severely affected by the pandemic caused by the novel coronavirus or COVID-19. It is bringing with it outcomes in many cases fatal for the business sector. Randall Castillo Ortega, an entrepreneur and global trade specialist from Costa Rica, provides insight into the various challenges companies in foreign trade are facing.


One of the challenges that international trade must face quickly and effectively are the delays in shipments made by commodity-manufacturing nations. This is because imports and exports came to an almost complete standstill last year. With new biosecurity standards and countries still having strong restrictions, a new way of sending and receiving goods must be considered.


Develop an international structure. If a company wants to be competitive worldwide, it must have a team – ready for the challenge – that knows how to operate under different legislation in force.


Select the right markets. Firms can boost their growth by diversifying, but leaders need to analyze which international markets are appropriate for their product or service.


Be up to date on laws and regulations. All the legal implications fall on the heads of foreign trade, as they need to know the local applications and regulations, both of their country and their target market. In this aspect, acquiring a compliance system has become essential to identify risks of regulatory non-compliance.


Confront the controls applied to foreign trade. Explains Castillo, “Authorities have intensified import and export controls and increased foreign trade fines for non-compliance and omission.”


Manage accounting, taxation and finance properly. These three areas are a great challenge for companies that are committed to internationalization to ensure their growth, especially since they must know different tax systems, taxes and requirements.


Understand international pricing calculation and strategy. For exporters, setting the price of their products and services abroad is no easy task, as they must remain competitive while securing their profits.


Adopt international payment methods. “Economic transactions are a constant concern for both importers and exporters,” says Castillo. “Many acquire some international payment system – especially documentary collections and letters of credit – to guarantee a certain degree of financial protection.”


Understand exchange rates. Currency fluctuation can seriously affect the operation of a company involved in foreign trade.


Communication and cultural differences. Effective communication with colleagues, customers, distributors, etc., is critical to the success of international business. It is not easy for leaders to break down the cultural barriers that prevent the insertion of a product or service in a new market.


Political risks. Political uncertainty and instability are latent risks for any company, as governments can change policies, regulations and taxes, harming foreign companies and investments. Against this backdrop, business leaders need to follow political developments and strategize to mitigate risks and negative consequences.


Secure supply chains. Supply chains are exposed to serious problems, which can involve criminal groups or suppliers with illegal practices. To combat this problem, the AEO Certification was established, which can be obtained by importers, exporters, transport companies, customs agents, industrial parks and other companies.


Innovation obstacles have to be overcome. Due to constant technological and economic changes, the biggest challenge for leaders in international trade is to innovate in all their processes to face any adversity.                


One of the challenges for international trade is the consolidation of imports and exports in world markets. The reactivation of the economy, which is already an essential factor in overcoming the crisis, is not enough. Also, it is necessary for companies to consolidate in their market niches based on competitiveness and process optimization.


About Randall Castillo Ortega


Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.

Randall Castillo Ortega explains how COVID-19 has impacted commerce in Panama

Business and trade expert Randall Castillo Ortega provides insight into how the COVID-19 pandemic continues to impact the commercial industry in Panama.

San José, Costa Rica – WEBWIRE

Over the past year, cybersecurity has evolved from systems protection to business enabler. This allows remote, secure operation with the visibility required to trust the business.



All industries have been affected by the changes caused by the pandemic, including manufacturing, retail, hospitality, education, and healthcare. It is impossible to go back to how things were before the pandemic. This pandemic has had many impacts on Latin American countries like Panama. Randall Castillo Ortega, an expert in global trade, shares his insights about how this affected the country’s business practices.


The “new normal” will be in place for some time. Companies do not expect security priorities or current security concerns to significantly change over the next two-years. Many Panamanian security agencies expect that the rapid changes in their networks and security infrastructures as a result of the pandemic will be permanent.


The most impactful security strategy changes have been those that put more emphasis on security education for employees (39%) and network security, threat prevention (37%), as well as expanded protection of mobile devices and endpoints (37%). 27% of respondents stated that they would increase security projects in 2020. This shows that the majority of people responded to the pandemic with a reimagining of their business models.


“Over the past year, cybersecurity has evolved from systems protection to business enabler. This allows remote, secure operation with the visibility required to trust the business,” asserts Castillo. He adds that a large portion of company implementations were done without planning. It is crucial to now look at the security environment.


The priorities for 2022, in addition to the strategy, have also moved. The main problem was security for remote employees. This was followed by protection from phishing attacks and social engineering attacks, secure remote access and protection of cloud applications and infrastructure.


Castillo explains, “If we can understand how markets have reacted to the pandemic and how businesses are adapting to it, it is clear that this paradigm shift is unprecedented. Disruptive technologies like robotics, Big Data and artificial intelligence have found the perfect moment.”


Social distancing will allow you to see how Panama’s companies, particularly those in the healthcare sector will look at digital processes. This has been made more difficult by the pandemic, which McKinsey’s global institute for 2017 predicted that it would affect between 400 and 800 million jobs worldwide by 2030.


It is crucial that people are educated in the new technologies and other opportunities that these new business models, technologies offer. There is increased competition for jobs due to the rise of virtual meetings and remote workers. Companies have realized that rigid work schedules are no longer the norm and will be challenged to find a better work-life balance.


Castillo explains, “The results show that motivation is higher than traditional structured models, which leads to an increase in productivity.” The same goes for contactless payments and outdoor experiences. Organizations will be more resilient and optimized.


These changes are here to stay, and we must learn how to navigate the challenges this pandemic presents. Entrepreneurs must be more open and willing to adopt new business models that promote permanence. We will have to also work hard to strengthen the relationships between employees and the leadership of the company.


About Randall Castillo Ortega


Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.