In a recent episode of the Built to Win podcast, Neora founder Jeff Olson and co-CEO Debra Highes discussed the company’s historic victory against the Federal Trade Commission (FTC). After a grueling seven-year battle, the ruling vindicated Neora and set a new standard for the direct-selling industry.
Throughout the episode, Olson and Highes emphasized the importance of building a company on solid business principles and focusing on providing value to customers. Neora’s success in the courtroom can be attributed to its commitment to legitimate customer demand, quality products, and a robust compliance department.
The judge’s ruling highlighted several key factors contributing to Neora’s victory. First, the company’s focus on customer sales, with 80% of its revenue from non-compensation plan participants, demonstrated its ability to generate genuine demand for its products. Second, Neora’s investment in high-quality, clinically tested products sets it apart from companies that treat products as mere excuses to play compensation plan games. Finally, the company’s well-established compliance department and policies ensured that it operated within the boundaries of the law.
Olson and Highes believe the ruling has far-reaching implications beyond the direct selling industry. The case has become a line of defense for independent contractors in various sectors, such as real estate and insurance, protecting them from potential attacks on their business models. Furthermore, the ruling emphasizes the importance of adapting to changing market forces and consumer preferences, as Neora has done by focusing on e-commerce and direct-to-consumer sales.
Neora remains committed to its core principles and plans to continue refining its business model to serve its customers and brand partners better. The company’s leadership recognizes that success is not about changing course after a victory but about consistently making the right decisions and staying true to one’s values.
The Built to Win podcast episode featuring Olson and Highes offers valuable insights for entrepreneurs and business leaders across industries. It reminds us that building a company on a foundation of integrity, value creation, and adaptability is essential for long-term success. As Neora continues to thrive in the wake of its historic win, it sets an example for others to follow in navigating the challenges and opportunities of the ever-evolving business landscape.
