Sales executive turned entrepreneur Mansi Panchal has boldly made her way down the founder’s world.
Just in her twenties, Panchal has proved that regardless of your age, if you are determined enough, you can achieve your dreams, which is clearly visible with her company, FounderX.
The company helps potential entrepreneurs find their ‘X-factor to venture’, by helping them set up their businesses in the UAE.
Kicking it off as a business set-up advisor in Dubai, Panchal sharply pivoted to sales, where she found her passion: connecting with people. And no, she’s not your ordinary salesperson; she emphasises the art of listening; “God gave us two ears and one mouth for a reason,” she says.
Her USP? Getting in-depth with her clients, finding out what makes her clients tick, and then using that as the ideal insight to seal the deal.
Now, she’s on a mission to fill the enormous gap that exists in GCC’s business set-up industry and in sales training to mentor the up-and-rising generation of sales reps.
Let’s dive into the young entrepreneur’s journey that made her who she is today:
Why sales? What is it about the profession that intrigues you?
Why not? Let’s be real here – this is the sole profession where you get to control a huge chunk of your income and live the life you want.
To me, sales isn’t just about persuading people to buy what you sell, but rather, it’s about the adrenaline and the experience of meeting new people.
Every client is different, and every deal has a thrill of its own. What intrigues me most is getting to know the ‘why,’ and the psychological drive behind each transaction.
How did you manage to stand out in a male-dominated field?
Simply put, it’s more about the mindset than about the gender. I walk into every boardroom knowing my worth, regardless of who is in there; I could be in a room full of men being the only woman with the right sales pitch.
You have to develop an “I will make it happen” mindset. You can’t sit around and wait for an invite to the table, but you have to build your own.
What made you realise you need to offer mentorship to up-and-rising salespeople today?
I started off in the business set-up industry and went ahead with working in sales, I had no mentor to guide me through the thick and thin of sealing deals, but soon, having worked with multiple corporations, both big and small, what made me realise that majority of people didn’t even know what they were selling, and the reason behind that was the lack of sufficient training.
That’s when I mastered the art of sales — through my own experiences (the hard way), and now I want to change that for others.
Now, I even mentor up-and-coming sales pros, guiding them through the crooks of sales strategies and closing deals and teaching them what I wasn’t taught myself; I’ve been doing so by offering free tips and tricks on my social media platforms.
What was your vision behind FounderX?
Having dealt in the business set-up industry for more than six years and engaged with over 4,500 entrepreneurs a year, I realised the existing market gap: buyers not getting in touch with the right sellers, and I saw one too many startups fail.
Ninety per cent of young startups fail solely because founders and teams don’t “sell themselves or their offerings” effectively. This, I think, is not stressed enough.
At FounderX, I focus on understanding the core vision behind an entrepreneur’s business and use that insight to help them identify their “X-factor” — the unique element that drives success.
I aim to create a team that embodies this passion and delivers top-tier service to entrepreneurs, ultimately building a community of skilled sales professionals.
I envision training my team with the passion that gives our clients the best first-hand experience in UAE’s business market – with that, creating a community of killer sales reps.
What’s your driving force as a young entrepreneur?
I really do think everyone has their own vision behind their startups, from following a dream to just simply making more money.
But my vision doesn’t only revolve around monetisation, and this may sound silly, but I really look more for the adventure of doing something new all the time because it really gives me a sense of fulfillment when I set a whole blueprint of an idea and implement it successfully.
I don’t ever believe in stopping at one milestone, but rather always have a new project to work on in my mind while succeeding in my current one.
Would you say you’re an impulsive decision-maker?
I personally don’t mind being impulsive with my decisions – I mean, it’s easy to weigh the pros and cons of your decision if you put your mind to it, and if the pros or cons outweigh one another, that might be a sign on its own.
I do emphasise being objective with my decisions because we obviously can’t make decisions blindly, but I love keeping it spontaneous rather than confining myself to one shell.
What are your views on the business set-up industry in the UAE?
Since I’ve been in the business set-up industry for over six years, I have really seen all the ins and outs of the industry, which widely helped me understand where to and not to put my foot in.
Our role is more than just being sales reps – we play a vital role as consultants, bringing entrepreneurs closer to their business dreams, reflecting on our clarity and transparency, and ultimately building trustworthy relationships.
With the business set-up industry being one of UAE’s fastest growing industries, it’s our responsibility to cater to expat entrepreneurs and help them find success in the country’s competitive market, along with showing the world why they should start their busines in the UAE.
