Monday, 4 February 2013
Get rich quick schemes (Eg: QNET), are widely populated in any emerging countries is only with one reason, that they talk about "FINANCIAL FREEDOM", to a person who doesn't know anything about finance. Indians lag on educating finance from school /college level.
I found below question raised by a prospect to the IR , and the IRs reply as below. below then you can see the blogggers question on the same, No reply from IRs side as usual !!!!!
Prospect's concerns ?
Fact 1- "The premise is to get more and more people to invest Rs1 lakh to Rs6 lakh in an 'e-commerce' venture. They make you owners of QI group by selling three shares for every Rs1 lakh. How does that generate returns? The victims who are enrolled into the scheme, in turn hunt for newer victims to buy into the Ponzi. They are entitled to get 14% of share capital they or their victims raise."----- Is there any other way to make money via Qi,Qnet etc etc.
Fact 2- " QuestNet virtually folded-up after the Chennai police arrested several employees and the business was in completely disarray. "----again if this is not a fact pls present facts with proof
Fact 3- The ministry of corporate affairs (MCA) does not even require these companies to be incorporated in India. ---Unfortunate that corporate governance loophole is exploited thus.
Some other facts in india its vihaan something earlier it was questnet india. Funny part they are just franchisee. Money collected is quickly transfered out of the country enabling expensive PR & Advertisement. As it did with questnet, if things get hot Vihaan closes down, Money cant be recovered . And there would be 100 new franchisees> Till regulations change and the real operators are adequately punished.
Untill then one drop of ink is not enuff, since many of our friends will fall into this trap and learn the lesson the hardway only
Reply by th IR (So called trained Network marketer )
Reply to Fact 1 : You need to understand how a NM company operates and how are they able to pay their customers/partners. NM companies don't have any Marketing & Advertisement costs associated since every Single Partner is their Brand Ambassador who does word of mouth marketing.
How many times have you referred a good movie to your friends or a nice ice cream or a nice restaurant for a dinner, to your friends....
Did anyone of these paid you for getting them a customer or marketing their product. NO right.
NM companies do.
#Reply to Fact 2 : Qnet had to take a backstep, since all operations of the company were not online since company was in a nascent stage and thus some newly appointed partners used the platform to cheat on people. They were banned, all charges were framed against the culprits.
If you work for Apple tomorrow and are involved in a big money laundering scam which you pulled off using your position in the company. The company would get the negative image but gradually you would be punished and not the company.
How could the same company get revived and enter Indian Market again. Because now they've a strong foundation. Processes to appoint only legit business partners.
#Reply to Fact 3 : My only one question to you.....Why would Vihaan close down. What is the one illegal, or unethical thing that Vihaan is doing so that it would be forced to shut down.
Do you even know Vihaan has been appointed?
Ms. Kiran. I'm not here to support QNET being a distributor. I myself had a negative perspective about MLM companies and the processes attached. But QNET is not MLM/Pyramid Scheme. It is pure NM combined with E-commerce.
Find me one Business Partner associated with this company who would tell you that making money is easy or this is a Get Rich Quick Scheme. It takes a lot of hard work to earn money. A lot of dedication and perseverance and that is the number one thing we say.
At the end, how the mouth of the IR got SHUT !!!!
# I may need to understand NM more, but ur reply does not specify what I have misunderstood.? Qnet does spend a lot advertising . GIBM, Formula 1 Racing , all the hi profile brand ambassadors apart from the IRs.
As for getting paid for recommendations yes lots of companies do that, Its called referral programs or loyalty programs, where the simple premise is to reward loyal customer and increase base.
Imagine getting paid for referring ---People refereeing shitty movies & crappy ice creams just cos they are getting paid..?? is there a similarity with the likes of QNET. any ways that’s not the debate here so lets move on
#On the apple example if this were to happen , Apple and most serious companies will issue an official statement clearly naming the culprits and dissociating from the so called culprits. It will definitely speak a lot about their corporate governance . Are you saying people at QNET were laundering money..?? Frankly these things cant happen without board approval and stuff. Since you seem to know a lot about QNET, Would really appreciate if you mention who these people were? what was the issues . Are these people behind bars..?? Has Qnet filed a case against them..?? If Not Y not.? Are they operating now?? Who is running it?? Where is the office??who all are there on the board?? Who are the legit partners??
#On why would vihaan close down, same reason questnet and many of these who have shut shop. Do I know Vihaan has been appointed, I don’t know dude you tell me. BTW this is what is mentioned on the invoices issued.
I can find 10, who talk about retiring within next 2-3 years, but yes I must agree they all are almost robotic when they use words like hard work, give little time, perseverance and yes dedication
I sincerely hope all this energy and passion would be far better spent elsewhere, Let better sense prevail.
Posted by Raghu Pillai at 22:38