Dr. Vijay Eswaran is a renowned corporate guru and the brains behind QI Group of Companies, a multi-million conglomerate that has extensive interests in financial services, direct selling, hospitality, and education. The company’s flagship subsidiary is QNET, which Vijay established in 1998 and has grown into a global corporation.
When Vijay started QNET, he envisioned a company that would combine the potential of a direct selling force with the worldwide reach of the web. As a result, he started by merging traditional sales method with the ecommerce model. Together with his partners, they decided that they were only to sell products that would set the company apart from competition.
The Precious Metals Model and Dealing With Difficulties
Vijay came up with the idea of using the precious metals and numismatics model, which was based on thriving European marketing strategies. His company secured exclusive rights to sell commemorative coins during the 2000 Sydney Olympics. Read more: Dato Vijay Eswaran: From taxi driver to worth over $500 million dollars
Despite its relatively late entrance into the market, the sales model that was adopted enabled it to sell the third-highest number of coins.
Judging by his success, one might think that it has been a smooth sailing for the Malaysian entrepreneur. However, this has not been the case because he has faced numerous challenges on his way up.
When he was starting out, he didn’t have any family connections or source of funding. Economic growth in Asia was also at its lowest. Besides this, he has had to put up with accusations that he runs controversial ventures. Luckily, he met like-minded partners who shared in his vision. The setbacks and failures that he has faced have enabled him sharpen his business acumen.
Philanthropy and Future Plans
Vijay led the opening up of QI University in Malaysia with the goal of improving access to higher education. This is just the beginning since he hopes to establish a QI City, which will incorporate a new campus, a teaching hospital for boosting the corporation’s medical program, a shopping complex, parks, and residential blocks.
As a firm believer in “Service above Self”, Vijay Eswaran is an active humanitarian. He started two foundations, which mainly focus on youth empowerment, women empowerment, and the improvement of education access worldwide.