Network marketing is one of the most misunderstood business concepts worldwide. Despite being a USD 180-billion industry, the stigma of being labelled negatively simply because people do not really understand what the business is all about is quite easy.
In this interview with beloved and well-respected QNET Founder Joseph Bismark, readers will be able to understand the business model and have no difficulty answering the question - ‘What is network marketing?’ Our founder has plenty of valuable information to share – read on.
What was your first impression of Network Marketing?
Just like anybody else who is ignorant of network marketing, I had been very much scared of it. I was also against it because of all the write-ups, articles, news I've heard – these “pyramids” and everything – but I was lucky enough because I met Dato’ Sri Vijay Eswaran, who was already very knowledgeable about network marketing.
He explained to me such a wonderful business model wherein it allows an ordinary person – one who does not seem like they have an opportunity to become successful in life, who does not have that facility for a big investment – to start a company.
Any person, even without a degree, just like myself, can actually become successful; this concept attracted me very much. It opened up a vision, something in me that said, "Hey, you know, I could also be successful!"
SEE ALSO: I Am A Network Marketing Professional
How can a person become successful in Network Marketing?
First, one must understand networking marketing and how it can actually, through serious hard work and some form of leveraging, make you successful.
Normally, why do people hire people in a corporate setting? A person works eight hours per day and that’s what they get paid for. How do you leverage on this? You start your own business and you hire another person, and your hours become 16. If you want to have more work done in a day, so that you can earn more, you bring in 5-10 more people. The more hours you would have in a day, the more you could actually leverage in terms of earning. That's why big corporations end up having thousands of employees.
So imagine network marketing: you could start selling amazing products, then build your business team, and when all these people are doing the same thing, each and every one of you earn commissions from sales!
Network marketing is just like any other business, but it's the most powerful vehicle today. Several millionaires in the world today come from this industry called Network Marketing.
I can say that people with big visions in life, such as leaders who want to build a business and dream of making many others successful along the way, are the ones who will succeed in this business.
QNET is just like any other legitimate network marketing company, and we have thousands of these companies today. Of course, while there are those that are very successful, there are unfortunately some that use the network marketing business to cheat people.
Can you tell us more about those who use network marketing to cheat people?
It is really sad that there are people who do this. Are there scam network marketing companies? Yes, just like a person wearing a suit can be a criminal. The suit doesn't make a person necessarily good.
However, we should not think that, just because the person who robbed a bank was driving a black Mercedes Benz, it automatically makes every person who drives a black Mercedes Benz a bank robber. You cannot put the company at fault. Companies will not cheat you. People will cheat you. You must then understand what the company is, how legitimate it is and how best it takes steps to prevent such bad behaviour. These are the steps we practice to set us aside from other companies.
What makes network marketing special and unique?
It is a business that constantly excites people. In the last 18 years, I'm still excited when I wake up in the morning, because I don't see myself as working. From the first day that I started network marketing, I have felt that this is what real retirement is about – not sitting in your chair and getting bored, waiting for yourself to die, but ecstatically waking up every day because you know you're helping other people build their dreams.
This is the only business where your success is all about how you promote the success of others. I can only be truly successful in network marketing if I help the people whom I brought in become successful, too.
What other industries in the world have a business model wherein the company’s success is based on your success?
How important is ‘word-of-mouth’ in the network marketing business?
We've watched many blockbuster movies that have made millions of dollars. And we are part of the marketing that makes those movies sell. When you like a movie you just watched, you tell all your friends, you share it on social media. Then some of those friends would be convinced to watch that movie because they heard how excited you are about it, and they will also tell their friends.
There’s even a study that estimated that, in less than a week, your word-of-mouth advertising will reach 1,500 people. These people would also buy popcorn, drinks, and a lot of products because of word-of-mouth advertising. From them, these would spread further. So just from you talking about the movie, it received sales from millions of people. But have you ever gotten a check from the movie companies?
The concept of word-of-mouth advertising is built upon network marketing. In network marketing, you also share your excitement over a product and/or the business with your friends, and they do the same with their friends. But, unlike movie producers, a network marketing company rewards you for all your efforts with sales commissions and incentives.
What advice do you have for people who are struggling to find ways to become successful and are still doubtful of network marketing?
In a way, I see QNET like a vehicle. It's a very fast vehicle. Within the category of cars, I would say QNET would be a fantastic sports car compared to other brands. Would it change your life to have a sports car? I guess it would. You'd look good, you could drive fast, and you could reach your destination fast, so yes, it does in that sense.
But you must know how to drive a fast car. Owning one is not enough. In the same sense, QNET as a fast-growing business is not enough. YOU must understand how to drive it. Many people who discovered QNET in the past had not known how to drive it at first. Many of them quit. But those who learned how to drive, the results were amazing. They really managed to change their lives.
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