QNET Scam - A MYTH or REAL FACT ???
Well as we all know a Scam is defined as
‘a fraudulent or deceptive act or operation’ or ‘an illegal plan for making money,
especially one that involves tricking people’.
In essence, this would mean that if a
company or an enterprise is called a scam, such a company or an
enterprise has been found to project a false image of legitimacy while
fraudulently obtaining money from the public. It would be an enterprise built
on lies.
So why is QNET being called a scam
in the media?
Before we answer that, let’s examine
some of the factors that are taken into consideration to establish the
legitimacy of a business, i.e., the things that separate the genuine
companies from the scam ones.
Longevity of
the Company
Various research studies have shown that
90% of new businesses fail within the first 5 years. In India, more than
80% of new businesses die within the first three years. There are multiple
reasons for this failure. Inability to scale, poor management, inadequate
funding or capital to operate, poor marketing, legal challenges, not having the
right team, are some of the reasons.
These reasons also apply to direct
selling companies that fold up within a few years.
QNET has been in business for 18
years and shows no signs of slowing down. From its humble beginnings in
South East Asia nearly two decades ago, it has today grown into a global
powerhouse in the direct selling business, empowering entrepreneurs around the
world.
Credibility
of the Company
Just as you wouldn’t do business with a
person who is not credible, customers wouldn’t do business with a company known
for being dodgy or unethical. In order to establish a long-term relationship,
the credibility of the company is very important. You have to know and
understand what kind of company you are dealing with in order to develop trust.
Here are some questions that you should
ask in order to establish the credibility of a company — Is the company
legally registered? Are its founders and management team well-known,
well-respected people? Does the Company undertake any business that is
explicitly prohibited under law? Has it been recognised by any industry
bodies? Is it a member of a trade association and abides by its rules? Has it
received any awards? What kind of partnerships does the company have? How has
the company contributed into society?
Here are some facts about QNET:
- QNET
is registered as a legal business in more than 20 countries around
the world. In India, QNET operates its business through Vihaan Direct
Selling (India) Pvt. Ltd, the sole sub-franchisee of QNET in India.
- The
company’s founders are well-known business leaders who have since
gone on to successfully build a global conglomerate that includes a
full-fledged University in Malaysia, a chain of hotels and resorts in
different parts of the world, and a historic Swiss watch brand.
- QNET
is a member of the Direct Selling Association in Malaysia,
Singapore, Philippines and Indonesia. DSAs act as self-regulating bodies
for its members and ensure that all members adhere to a strict code of
conduct. These DSAs are all members of the World Federation of Direct
Selling Associations (WFDSA).
- QNET
has been recognised for its achievements in different parts of the
world.
- QNET
has partnered with leading sports teams such as Marussia F1, Manchester
City Football Club and counts Tennis star Martina
Hingis as a brand ambassador.
- QNET
has been an active contributor to the community through a number of
charitable projects in different parts of the world. In India QNET has
partnered with the Lion’s Club and has been involved in a number of
initiatives supporting the underprivileged.
Size and
Growth of the Company
Knowing how big and how old the company
is, gives you an indication of its growth pattern. Some of the things you
should be looking for — How many offices does the company have? How many
employees? How many countries do they do business in? How many customers do
they have? In the case of a network marketing company, how many distributors do
they have? How fast has the company grown? All of this information helps you
understand how stable the company is.
- QNET
has offices and agency representations in 25 countries around the
world.
- The
company employs approximately 1,000 employees directly and
indirectly.
- QNET’s
products are shipped to more than 100 countries globally.
- Globally,
more than 5 million customers have purchased products from QNET in
the last 18 years. In India, QNET has approximately 60,000 customers and
independent representatives.
Products
This is the single most important aspect
of what separates a legitimate direct selling company from one that is not.
Direct Selling is all about having a large group of distributors promoting and
marketing a product to the marketplace and sharing the profits from the sale of
those products. It’s important for the company to offer high-quality products
and services, preferably with a USP that sets it apart from the competition.
- Health
and Wellness Products
- Beauty
and Personal Care
- Household
Goods and Durables
The report showed that in India the
market share for products sold through direct sales were 42% for Health and
Wellness, 34% for Cosmetics and 7% for Household Goods and
Durables.
QNET’s top selling products in India
include the nutrition range of products called Nutriplus, the SHARP-QNET
Plasmacluster Air Purifier among Home Appliances, and the Physio
Radiance Skincare range.
Compensation
Plan
What sets direct selling companies apart
from traditional businesses is their business model. People get into this
business in order to supplement their existing income or are working towards
long-term financial independence. Hence, it is important to be a part of a
company that has a sustainable compensation plan that rewards you for
your efforts, gives you performance incentives and will allow you to eventually
earn a residual income in a few years.
QNET has one of the most exciting and
robust compensation plans in the industry with very competitive commission
rates. Not only do you get to enjoy a high-quality product that helps you live
a better life, you also get paid for sharing its benefits with others.
To make sure that all Independent
Representatives understand the business model and the policies and procedures
involved, QNET provides all the information in writing to prospective
customers. All documents related to the business are easily available through
our website to anyone interested in understanding the company and the business
model before signing up
Training
It is said that the best business
trainings are found in network marketing companies and not in an MBA
programme. It doesn’t matter how well you did in your earlier profession, what
your experiences in life are, or how successful you have been elsewhere if you
are not open to constantly learning and growing.
All good network marketing companies
provide multiple levels of training starting with a Basic Training programme
for newcomers to educate them about the company, its products and services, the
compensation plan and knowledge about the industry. Other levels of training
include goal setting, planning, presentation, public speaking, leadership
development and teaching others.
QNET provides regular training
programmes at all levels to independent representatives around the world. From
small training events for a group of 20-30 people to large conventions
involving thousands from around the world, where participants learn from the
best in the business not just in their country, but from other countries as
well.
