The History and Rise of QNet Limited
QNet limited is an e-commerce company that operates mainly in Asia and Africa. The company is one of the many companies owned by the QI Group of Companies. It has its headquarters in Hong Kong. The company manufactures a number of products that it sells through its independent representatives. The products fall in various categories such as weight management, energy, nutrition, home care, personal care, fashion accessories and luxury goods.
Vijay Eswaran and his friend Joseph Bismark co founded the QNet. Eswaran founded the company in 1998. His prior experience in multi level marketing helped him to evaluate business operations and utilize the right strategies to register success in business. He serves as the Chairman of the company and the Executive Chairman of the group that owns the company, the QI Group. A part from being the Chairman of the company, he acts as a motivational speaker to independent representatives selling QNet’s products. Check out QNet’s profile on YouTube.
Like other multi-level marketing corporations, the marketing strategy used by QNet follows a multi-level marketing and direct selling model. It depends on independent representatives to market the products and sell the products on the behalf of the company. These representatives are paid based on both the volume of sales made and the number of successful referrals. A representative will also get additional compensation based on the volume of sales made by their referrals. Each representative has his or her team organized in a binary fashion. The team is made up of the representative and every person below him or her in the binary system. Occasionally, QNet uses newspaper ads to market its products.
The company has established its operations in the Asian continent in countries such as Philippines, Indonesia, Thailand, United Arab Emirates, Vietnam and Taiwan. The company has operations in Egypt, Saudi Arabia, Rwanda, Iran and India. Its manufacturing branches are located in Turkey and India.
Originally, QNet was known as GoldQuest when it was founded in 1998. Its first product was custom-commissioned numismatic coins. In 2002, after a partnership with QVI Club, the company diversified into travel and vacations. Another important diversification made by the company was in 2006 when it started marketing health, energy and nutritional products. During the same year, it started marketing Bernhard H. Mayer branded watches.
The success of QNet is mainly attributed to Vijay Eswaran’s expertise and its highly motivated independent representatives. The multi level system employed by the company ensures that successful representatives are awarded with different gifts in a frequent manner. A part from gifts, these individuals also get to climb higher in the system. The representatives can easily monitor their expected compensation using a formula already set by the company. The Directors of the company regularly holds motivational sessions with the view to keeping the independent representatives motivated.