The first year of a business is difficult for young entrepreneurs. Your business model is untested, your funding is finite, and your success is uncertain. Life and Business Coach Marc Galal has been where you are. Marc Galal is a life and business coach and was Focus Magazine’s 2016 Best Trainer in Personal Development. Now, after 21 years as a self-employed mentor, sales trainer, and coach, he makes a living helping freshly baked entrepreneurs develop their businesses. In this exclusive interview, Galal offers his best insights and tips for entrepreneurs trying to make it in the industry.
Marc, your core product “neuro-linguistic selling” derives from something called “neurolinguistic programming.” What is that, and how is it used in business?
Neurolinguistic programming actually is a system that’s widely applied in personal coaching. It was created by two students in the 1970s and 1980s. Today it forms a valuable basis for many personality coaches to resolve blockages in a person like issues with their self-love or their beliefs regarding personal success. Some people define it as “the science of personal experience.” I became a licensed NLP trainer after studying with its creator, Richard Bandler. It completely changes the way you think about the world. You come to understand that almost everything you consider a limitation for yourself is actually set by you. NLP can help you work on these limitations. And it does that by teaching you a very sensitive way of communication which can you ultimately use in many, many different ways. You study thoughts, behaviors, and how your actions are influenced by your inner monolog. And beyond that, NLP not only helps you to better understand yourself and other people, it eventually allows you to read your clients best and understand their needs. Sometimes even the ones, they don’t consciously express. Once you know you that, you can give a customer what he or she truly wants, and that will lead them to buying what you have to offer.
As a business coach, what is the number one business move that every young entrepreneur should make?
Be flexible. Did you know that 20% of small businesses fail in their first year? That’s often because the owners of those businesses were too afraid to be wrong, learn, and adapt. Even twenty years into my career, I am always having new ideas I am willing to try and fail with. Especially now, with the Covid crisis, adaption will allow you to survive.
Many entrepreneurs are struggling right now due to Covid-19. Any advice for them?
I’ve been there. After 9/11, my business came to a standstill, and I had to start from ground zero. It was a scary time for me, but now I can tell you that you have to push through to the other side. As a business mentor, I’d ask you to learn how to motivate yourself. Once you know how to motivate yourself, you’ll have the energy to take on big projects even in the face of daunting circumstances. The secret to entrepreneurship is to always keep going. And to keep going now means to come up with new ideas! What part of your business can make money online? Do you have to see your customers in person? Always look for the chance in a crisis. Thankfully, we have so many technical possibilities today. Covid is a challenge, not your judgment day.