Company seeing increase in startups during pandemic

Posted at 12:57 PM, Aug 24, 2020
and last updated 2020-08-24 18:04:39-04

While some businesses are closing their doors due to the pandemic, others are using this as an opportunity to start something new.

The CCO of Incfile, Mike Nunez, says last month they created more corporations for people than ever before.

"What we're finding is, you know, we know Americans are resilient, and in the face of adversity, they're going to come out on top," said Nunez.

If you're looking to start up a new business, he says there are three things you should do.

Start by making sure you have a clear idea of what sets you apart.

"I'm not saying that you have to be absolutely better than everybody else, but you do have to be clear on why somebody's going to actually pay you money for your product or your service," said Nunez.

You should also look beyond your primary product or skill and think about what else you're good at.

"A good business is a cross section of two different disciplines," said Nunez, "So maybe you're good at two different things. Maybe you like style. So you like suits and you also are good with people, so you can create a suit company where you also are the salesperson."

Nunez says it's also a good idea to incorporate your business.

"Basically if you create a corporation and something goes wrong in the business and the business gets sued, it's the business, not you personally," Nunez said.