The Guide to Starting a Company in Costa Rica - Lesson 2 - Build a Great Team

The most important lesson I learned while starting a company in Costa Rica was that I needed to surround myself with the best team possible. This was actually something I screwed up during my first attempt at building a team. The first group that surrounded me was my Costa Rican partner and two other Canadians.

Of course when I pitched the idea, everyone was crazy about it. But when it came down to crunch time, and I moved to Costa Rica, and I needed everyone to start doing their share, no one was around to help. Sure a little project here and there, but no real commitment from anybody.

Eventually, one of the partners was asked to leave, and a new person took his place. My newest partner was definitely as motivated as myself after seeing the beauty of Costa Rica first hand while visiting La Cusinga Lodge and Punta Uva. From the moment he joined us the company finally started moving forward. His specialty was finances, and he brought our company some financial structure and organization, that allowed us to survive the extremely slow beginning of Exclusive X-cursions.

Therefore, we had our finance guy, our Costa Rica connection, and our sales person (myself), as well as a forth that really wasn't bringing anything to the table. In the end, he was let go (prior to any contracts being signed thank goodness), and was replaced by a computer specialist.

This must have been our best decision. I have no idea what we were thinking starting an Internet company without a computer genius to assist us along the way. At this moment, we had a complete team, and our first sale followed soon after. None of this would have been possible with the old team, and my company would have surely failed.

The lesson in all of this, is that you must ensure that everyone brings something different to the table when you start a company in Costa Rica. Too many of us had the same qualities, and this prevented our company from taking off in Costa Rica.

The Guide to Starting a Company in Costa Rica - The First Visit

When thinking about starting a company in Costa Rica, there is one fundamental thing that must be done before anything else. It may seem obvious to some, but not followed by all. Before coming down with your bags filled with cash ready to invest your money on a surefire way to make the big bucks, please visit Costa Rica first.
I have met numerous people who have made the big move to Costa Rica thinking this was the place for them, only to find out a few months later, or years, that Costa Rica really wasn’t for them.

Although visiting Costa Rica first isn’t a guarantee that things won’t go bad, it is a smart way to check out the culture and see if you can really see yourself living in Costa Rica for multiple years.

Since it takes 5 years usually to turn a profit with a new company, you will have to keep in mind that this will probably be the same for you. I moved here with the intention of blowing up after a year, and hard the harsh reality of making my first sale a year and a half after first moving in.

When you visit Costa Rica, try to get the tour by a local, and not your Gringo friend that absolutely loves Costa Rica. It is important that you get an honest view from the people who can get you the authentic experience. Also, try to visit small towns in Costa Rica as much as the larger ones. Whatever you do, try to avoid staying in Gringo rich communities such as Escazu, as these places are not an accurate portrait of Costa Rica.

My best advice for you before you move to Costa Rica to start your company is to visit first, and to do it with private transportation so you can shoot a bunch a questions to your driver without feeling like you are bothering everyone else in the van. This is the best way to get info on Costa Rica. After your trip, you will have a much better idea if this is the place for you.

Guide to Starting a Company in Costa Rica

Welcome to my online guide to starting a company in Costa Rica. Although this guide will be specific to Costa Rica, I am certain there are many lessons that can be applied to other third World Countries around the World.

Although I have been living here for many years, I do no guarantee that this information will be 100% accurate, but I can promise that it will be as close as possible to being 100% accurate. If you are going to start your own company in Costa Rica, please do your own research and ensure that you have all of the latest and most accurate information out there.

In my guide to starting a company in Costa Rica I will be making multiple weekly installments, with each post being separate from the next. You can expect to read honest opinions and hear real stories from someone who has actually gone through all the steps of starting a company. I will also try to throw the Costa Rican perspective in all of my posts.

This blog does not pertain to those with large funds to invest, as these people surely will have teams of people around them giving them all of the pointers needed regarding starting a business in Costa Rica. Rather, this guide will be geared towards those who are on a reasonable budget. I had $20 000 USD to invest in my company from the start and had to get everything done under that specific price range.

Bellow is a breakdown of all of the topics and issues that you will be able to follow in the coming weeks. I also invite everyone to leave comments and ask as many questions as they wish.

The Guide to Starting a Company in Costa Rica



The Guide to Starting a Company in Costa Rica - Lesson 1- The First Visit

The Guide to Starting a Company in Costa Rica - Lesson 2 - Build a Great Team

The Guide to Starting a Company in Costa Rica - Lesson 3 - Choose a good Costa Rican Lawyer

The Guide to Starting a Company in Costa Rica - Lesson 4 - Find a Designer

The Guide to Starting a Company in Costa Rica - Lesson 5 - Choose your Office

The Guide to Starting a Company in Costa Rica - Lesson 6 - Know the Law

The Guide to Starting a Company in Costa Rica - Lesson 7 - Accountants

The Guide to Starting a Company in Costa Rica - Lesson 8 - Employees

The Guide to Starting a Company in Costa Rica - Lesson 9 - Paying the Bills

The Guide to Starting a Company in Costa Rica - Lesson 8 - Tips