In a recent episode of the Built to Win podcast, Neora founder Jeff Olson and Coco-CEO Debra Highes discussed their company’s unprecedented victory against the Federal Trade Commission (FTC). The podcast delved into the details of the grueling seven-year battle that Neora endured, ultimately emerging victorious and setting a new standard for the direct selling industry.
Olson and Highes shared their emotional journey, from the initial charges brought against Neora by the FTC to the final ruling that vindicated the company on all counts. They emphasized the importance of building a company on solid business principles and making decisions that align with market forces and consumer needs. Neora’s success can be attributed to its focus on creating legitimate customer demand, offering high-quality products, and fostering a culture of compliance.
One of the critical factors in Neora’s victory was its robust compliance department, which operates independently from the management team. The judge recognized Neora’s commitment to doing things the right way, telling distributors what not to do and guiding them on what they should do. This approach and their sophisticated monitoring system played a significant role in the ruling’s outcome.
Olson and Highes also discussed the broader implications of the ruling, which has become known as the “Neora Standard” or the “Gold Standard” in the direct selling industry. The case has set a precedent for how companies in the industry should operate legitimately, focusing on customer demand, product quality, and compliance. The ruling’s impact extends beyond direct selling, guiding other industries with independent contractors, such as real estate and insurance.
Throughout the podcast, Olson and Highes emphasized the importance of building a company that brings value to all stakeholders – employees, owners, customers, and independent brand partners. They believe in a world of abundance, where everyone can win, and this philosophy has been a driving force behind Neora’s success.
Looking ahead, Neora plans to continue being the best version of itself, adapting to market forces and consumer needs. The company’s leadership team, including Amber Olson Rourke and Dave Fleming, will share their leadership lessons and experiences in upcoming Built to Win podcast episodes.
Neora’s historic victory against the FTC is a testament to the company’s commitment to doing business correctly. By focusing on legitimacy, compliance, and value creation, Neora has emerged victorious and set a new standard for the direct selling industry. As the company continues to grow and evolve, its commitment to being built to win remains steadfast.
