In a captivating episode of the Built to Win podcast, Neora’s founder, Jeff Olson, and Co-CEO Debra Highes delve into the company’s unprecedented victory against the Federal Trade Commission (FTC). This hard-fought battle, spanning over seven years, culminated in a resounding win for Neora on all counts, with the FTC ultimately declining to appeal the decision.
The significance of this triumph extends far beyond Neora and the direct selling industry. It sets a new standard, dubbed the “Neora Standard” or “Gold Standard,” which will serve as a guiding light for the industry moving forward. The ruling affirms the legitimacy of Neora’s business model, which focuses on providing value to all stakeholders, including customers, brand partners, and employees.
Central to Neora’s success was its unwavering commitment to building a customer-centric, e-commerce-driven business. By prioritizing product quality, removing potential pitfalls, and fostering a robust compliance department, Neora differentiated itself from traditional direct sales companies. The company’s emphasis on creating a community that includes customers and brand partners was critical in its ability to weather the storm and emerge victorious.
Throughout the arduous journey, Jeff Olson and his leadership team remained steadfast in their belief in Neora’s mission and business practices. The lonely path they navigated required immense courage as they faced skepticism and uncertainty from industry peers. However, their determination to do what was correct rather than easy ultimately paid off.
The ruling’s impact extends beyond the direct selling industry, offering guidance to other sectors that rely on independent contractors, such as real estate and insurance. By upholding Neora’s model, the court has affirmed the legitimacy of businesses prioritizing product sales and customer satisfaction while allowing for team-building and compensation for sales performance.
As Neora moves forward, its focus remains on improving and evolving its business model to align with market forces and consumer preferences. The company’s leadership recognizes that success lies in adapting to the ever-changing landscape while maintaining its core values of integrity, value creation, and customer-centricity.
The Built to Win podcast is a testament to the power of perseverance, leadership, and unwavering commitment to doing what is right. Neora’s historic victory against the FTC stands as a beacon of hope for entrepreneurs and companies striving to build businesses that prioritize value, compliance, and the well-being of all stakeholders. As the industry navigates the future, the “Neora Standard” will undoubtedly serve as a guiding light for those seeking to build companies that are genuinely built to win.
