The importance of knowing and understanding business terminologies has become so unimportant today that hardly any people truly take the time to understand what they mean. This is probably caused by the misinformed idea that business terminologies are self-explanatory or that they are just a bunch of words that can be defined with common sense.
QNET has, and will always put utmost value on the business knowledge and behaviour of our Independent Representatives. Our genuine care for you as our IRs do not stop when you register with QNET. We will keep striving to ensure you will have successful and sustainable business in QNET. We also pledge to give the Direct Selling industry the smartest and most successful distributors it can ever have!
Let’s start getting smart by reviewing the terminologies that will help us achieve success. This set of terminologies are the ones that you have seen in the Q10 Rank Advancement and Maintenance requirements.
Understanding these words will also help you understand what you will need to move up in the Achievers’ Club ranks.
This means that you have at least 500 BV in your Tracking Centre from Retail Sales or product purchases for your personal consumption.
An Activated IR is an IR who has achieved and allocated a minimum of 500 qualifying BV on each side of any of his/her Tracking Centres through Personal or Direct Referralship, Retail Sales, Personal Purchases, or a combination of the three options.
3. DIRECT REFERRALSHIP
This means that the IR has personally referred another person to become an IR in QNET.
4. RETAIL SALES
These are sales made to any person who is not a registered QNET Independent Representative.
5. RETAIL CUSTOMERS
These are persons who are NOT registered IRs of QNET who purchases QNET products for their personal consumption.
6. PERSONAL PURCHASES
These are your own product purchases for your personal consumption. You can also personally buy products and give them to your loved ones as gifts!
7. REPEAT SALES POINTS (RSP)
These are points assigned to each QNET product that an Active IR earns upon purchasing QNET products for personal consumption or selling QNET products to downlines up to 10 levels.
8. PERSONAL RSP
These are RSP that an Active IR earn upon purchasing products for personal consumption and/or for selling QNET products to directly referred Retail Customers.
9. BUSINESS VOLUME (BV)
The point value of a product used to qualify a tracking centre and calculate Step Commissions
10. DIRECT BV (DBV)
These are the points that an Active IR earn when they sell QNET products to IRs and Retail Customers whom they have personally sponsored or referred to QNET.
11. GROUP RSP
These are RSP that an IR earns from the Repeat Sales and Personal Purchases made by his/her downlines within his/her line of sponsorship.
12. STEP COMMISSION
This is what an IR earns whenever he/she achieves 3,000 BV on his Lower Volume Team.
13. LOWER VOLUME TEAM
This is the business group who has achieved the lowest number of Business Volume in your team.
14. GROUP PERFORMANCE
You will normally see this terminology in the Rank Advancement and Maintenance requirement list for Platinum and Diamond Stars. Group Performance is the number of IRs who advanced or maintained their pay ranks within your team for a given quarter.
15. PAYOUT RANK MAINTENANCE
You should know by now that you have 2 ranks: your Title Rank- which is the highest rank you have achieved in the business, and your Pay Rank- which is the rank that you have currently achieved and the basis on how your Step Commissions are calculated. You would need to achieve 2 consecutive quarters of the Platinum or Diamond Star pay rank to achieve both Platinum and Diamond Star pay ranks,
Remember that all Rank Advancement and Maintenance requirements MUST be achieved on a Quarterly basis.
This Terminologies Review is for the purpose of providing a brief overview of the terminologies only and is not intended to replace the definition of these terminologies as ascribed in the Policies and Procedure which shall always prevail.
Becoming successful in a business starts with understanding concept and language. Do you agree?