How to Create Your QNET Business Plan Amid Global Inflation

Rising prices are creating problems for business owners and entrepreneurs around the world. And sadly, as thousands of businesses close, the prediction is that many more will follow suit.

But that doesn’t have to mean you. Indeed, the unique features of direct selling have allowed leading companies like QNET to be spared the adverse impacts of inflation and continue to thrive. The statistics show that many people have found direct selling a valuable lifeline in this period of flux.

That being said, worsening global inflation has necessitated new approaches and strategies, particularly when formulating a QNET business plan for one’s direct selling enterprise.

1. Determine your goals and approach

First and foremost, it has to be established that direct selling is unlike most other businesses.

There are no restrictive start-up costs or recurring payments. There’s also no need to maintain a storefront, business premises or large stockpile of products.

This means your business will be unaffected by inflationary concerns like escalating rentals. Also, some of the elements in a traditional business plan — such as information on capital, equity and funding — aren’t required.

Even so, those who have taken up the QNET business opportunity must settle on their goals and, importantly, determine when and how much they will work.

QNET entrepreneurs, or Independent Distributors (IDs), aren’t employees of the company but individual business owners in their own right. This means they have total control of their direct selling enterprises and must decide from the get-go how much time and effort they are prepared to invest.

Is your business a side hustle or a full-time endeavour? It’s up to you. Just ensure that your aims and approaches are clear.

2. Identify your target market and communication strategy

The sale of products and services is at the heart of direct selling. And in QNET’s case, the company’s comprehensive portfolio of offerings — that includes health and wellness supplements, scientifically designed and developed homecare devices, luxury watches, and jewellery — means there is something to meet and better every lifestyle need.

Be that as it may, it is up to every ID to determine their target market and consider how they will relate to prospective clients.

Remember, global inflation means customers have lower purchasing power and numerous other concerns. So decide at the start whether you’re going to focus on only retailing products and services to friends and family and whether other target groups will eventually be considered as clients. Also, determine the marketing communication you will use to address different customer segments in these challenging times.

3. Settle on operations

While entrepreneurship is sometimes seen as a solo endeavour, a direct selling business’s success is often tied to the hard work of one’s team. As such, your business plan should look to formalise your operational needs.

Remember the goals and approach(es) you settled on in the beginning? With those articulated and formalised, take the time to consider the size of the team you will need to achieve your business’s aims and, subsequently, ensure that your vision is communicated to everyone.

Determining personnel numbers is an important part of business planning, regardless of whether you’re embarking on your entrepreneurial journey or heading a large, well-oiled sales team. And this is particularly vital in periods of uncertainty to ensure the alignment of values and objectives.

4. Consider your growth plan

A large portion of traditional business planning tends to focus on growth, which is the same with direct selling. The crucial difference, however, is that the growth and success of the latter, especially at QNET, are determined by how much IDs sell.

If you sell more, you grow more and earn more. It’s really that simple!

That said, it’s important to bear in mind that inflation tends to be marked by slower-than-usual progress. Hence, while your business plan should lay out strategies for scaling your QNET business and recording more sales, do also consider that direct selling is akin to a marathon, not a sprint.

So, look to take things slowly and steadily, and remember that success comes to those who are patient.

5. Focus on entrepreneurial development

While business plans don’t usually include personal development strategies, it’s important for entrepreneurs to recognise that business success is directly related to a business owner’s ambitions, motivations and knowledge.

In other words, think about how you, as your direct selling business’s main asset, can improve and grow to better lead and deliver on your targets.

Incidentally, while QNET distributors are individually responsible for their own businesses and returns, being an ID means that one is part of a global community that prioritises training, development, mentorship and helping entrepreneurs build sustainable businesses.

QNET Pro, an initiative that includes training programmes, seminars, videos and social media campaigns, is one such effort that should definitely be included as part of your personal development plan. And additionally, there are specially designed, entrepreneur-focused courses that you could look at to buoy and sustain you amid uncertainty.

6. Plan but be ready to adapt

According to an age-old, oft-quoted adage, failure to plan is planning to fail.

Yet, while that is true for the most part, what is also true is that global inflation — like recessions, wars and health emergencies — requires business owners to be agile and ever-ready to pivot and alter game plans when the need arises.

For example, if certain products and services are more popular with customers than others, you should look to focus your efforts on promoting those, even if they had not been part of your original growth strategy.

In short, ensure that you have a plan, but also be discerning of the situations you’re faced with and adapt where necessary.

7. Stay focussed

There’s no doubt. Inflation is a serious concern, and though direct selling is not directly impacted, many long-term customers and prospects remain anxious.

Hence, IDs need to plan adequately with a view to both meeting customer needs and ensuring that their businesses grow.

We can’t always control what goes on in the world around us, but we can control our business.

---

Make the most of your direct selling journey with QNET with the QNET Sales Calendar.

This powerful tool allows you to plan for the entire year and stay ahead of the game. Don’t miss out on the opportunity to streamline your sales and reach your goals.