The Importance of Innovation

Innovate or die. I’m sure you’ve heard this phrase. It’s advice I agree wholeheartedly with. Why is it so important though?

The market now is constantly evolving. Not only do businesses need to survive and thrive with advanced technology, they need to ensure they are always ahead of the pack.

An example of a good innovator is Steve Jobs. He did not invent the computer or the mobile phone but he definitely revolutionised technology. It’s almost like being a chef. You mix and match raw ingredients and invent a brand new dish. That’s my mantra in business. I don’t think it’s necessary to create something new, but rather reinvent something that is unique and fresh.

When we founded QNET, there were similar companies around. However we took on the very powerful concept of Network Marketing and adapted it. QNET’s offering initially was just a few simple products. We increased and refined our product range every year, adding one or two products each time. Every six years, we conduct a thorough market analysis and trend forecast to ensure QNET remains ahead of the curve. Before we take one product off the market, we produce new and innovative products as new offerings. In terms of marketing, our team is proactively seeking ways to engage with our customers.

An example of that is V-Con. Would you believe that our first V-Con had only 98 participants? Compare that with V-Indonesia this year which attracted 10,000 of our distributors. Throughout the years, V-Con has gone through many changes. It has grown to become an all-encompassing entertainment extravaganza with an adjoining product exhibition area and musical performances. In 2010, we decided to leverage on social media and technology, and bring the V-Con action to all our customers who couldn’t attend. Anyone from the furthest ends of the world can keep abreast with the goings-on at V-Con as long as they have access to the Internet through the QNET blog and social media sites. I see this development as part of innovating.

No one knows what the future holds but we keep looking for things that would excite our customers. Most times, it’s based on a gut feel. There are no experts in business, in this day and age. There are products that did not do as well as expected. On the other end of the spectrum, there have also been products that I didn’t like, that ended up being really successful. Hence, I’ve learned the key is to have an open mind. It’s all about trial and error.

Isn’t that the way most things in life are?

Yours sincerely,

Joseph Bismark
Group Managing Director
QI Group



9 Responses to “The Importance of Innovation”

  1. ZM says:

    This is an insightful view which has been expressed. Different from the spiritual context, yet relevant especially in today’s world of ever evolving business where we are faced with reduced productivity, enhanced customer needs and economic concerns from fiscal cliffs to European debt crises’. It serves as timely reminder – innovation and meeting the needs of a fluid changing world, is key.

    • Joseph Bismark says:

      Thank you for your insights. I agree with you completely. This was exactly why I thought it was pertinent to write a blog post on the topic.

  2. […] From VFP Joseph Bismark’s latest blogpost “The Importance of Innovation“: […]

  3. KK says:

    Dear Sir,

    You and Dato Seri hv been truly inspirational to millions across the world. The efforts on Brand building of QNET and Network Marketing as The True Business Option of the 21st Century in platforms like Forbes, Bloomberg, etc is really commendable.

    Still bigger hurdles are to be overcome to fast educate the Govts across countries to clean the common mis-conceptions and to the intelligentsia reg. how Network Marketing is beneficial for economy and for larger people, while keeping scrupulous pyramid schemes at bay. How Network Marketing can be a prestigious profession getting the status at par with other businesses in world’s top management and business forums.

    I’m from Infiniti team in India, where branding of QNET has gone big brushing aside the past challenges. India is the biggest potential market for QNET, but at the same time Indians are quite knowledgeable n more probing-types. This has been the biggest reason while Indian market is hugely under-leveraged in Network mktng as compared to many other matured countries.

    While Business Innovation at QNET is getting due focus by leaders like you, may I suggest few things: 1) Lets not repeat the past mistakes 2) Be proactive to common consumer needs esp. the effectiveness of product delivery and after sales services 3) More close interaction by QNET top mgmt with Indian Govt, Industry forums and IDSA for genuineness of Network marketing industry and having proper legal framework for the same 4) More transparent accounting disclosure of QI group/ QNET and income disclosure of IRs – like Monavie does.
    5) Direct Selling News (DSN) ranks companies ased on their official annual revenues every year..can we target to find QNET in the top category.

    Sir..these are some of my humble suggestions. Of course QNET top mgmt is best placed to implement what is in best interest of the company.

    I pledge myself to work in the best interests of QNET to spread the opportunity to max. people.

    Best regards,
    KK

    • Joseph Bismark says:

      Thank you, KK. These are very valid suggestions, some we have also thought of and are working on. Please rest assured that the company is constantly striving towards being bigger and better. Thank you for your hard work and faith in QNET.

  4. Dante says:

    Hello evry1,
    Greetings from Kenya.
    I agree with KK, all the points he has raised should be addressed.
    It is extremely difficult to convince a prospect who has beed duped by pyramid schemes.
    I joined Qnet recently and prospects ask me “is this a pyramid scheme??” I try my best to show them the difference, and direct them to Vtube.
    Still a little awareness campaign on the difference of Qnet and pyramid of sheme from Qnet top Management would be highly appreciated.
    This can be done through the very excellent Vtube.
    Mr. Pathman, I really appreciate what you do in those clips, as a new IR, they were and still are, truly inspiring. Please Mr. Pathman enlighten us on this issue, coz pyramid schemes have really spoilt the ever growing Network Marketing Industry’s image.
    All the same, Proud to be in the Qnet family.
    Thanks.
    Dante

    • Joseph Bismark says:

      Thank you, Dante. It’s sad that a few rotten apples give the industry a bad name. We have published a few articles about the difference between Network Marketing and Pyramid Schemes in newspapers and online. I welcome the suggestion you’ve provided and will raise it up.

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