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?
Group Managing Director