In a remarkable episode of the Built to Win podcast, Neora’s CEO Debra Heist sat down with the company’s founder, Jeff Olson, to discuss their groundbreaking seven-year legal battle against the Federal Trade Commission (FTC). The conversation delved into the challenges they faced, the unwavering principles that guided their decisions, and the resilience that ultimately led to their historic victory.
Jeff Olson, a seasoned veteran in the direct sales industry, founded Neora with the vision of creating the perfect direct sales com one that prioritized making people better. Built on a foundation of strong values and a customer-centric approach, Neora quickly gained recognition as one of the fastest-growing companies in the industry.
However, their success caught the attention of the FTC, which launched an investigation into the company. Despite Neora’s transparency and cooperation, providing millions of documents and enduring countless rounds of questioning, the FTC remained determined to force Neora to change its business model. The proposed changes would have stripped distributors of their ability to earn income from team sales, a fundamental aspect of the direct sales industry.
Unwilling to compromise their principles and jeopardize the livelihoods of their distributors, Neora made the unprecedented decision to sue the FTC. This bold move thrust the company into uncharted territory, facing immense pressure and challenges that tested their resolve. From losing banking relationships and merchant processing to the departure of key team members, Neora encountered numerous obstacles designed to force them into submission.
Jeff Olson and his team remained steadfast in their convictions throughout the arduous journey. They leaned into their culture, strengthened their bonds with distributors, and continued to focus on growing the company. By projecting a positive vision and staying true to their values, Neora weathered the storm and emerged stronger than ever.
The culmination of their efforts came in the form of a historic victory in court. Neora prevailed on all five counts brought against them by the FTC, a testament to the strength of their business model and the integrity with which they operated. This triuvindicated Neora andalso set a precedent for the entire direct sales industry.
Looking back, Jeff Olson and Debra Heist reflect on the invaluable lessons learned and the incredible growth they experienced as a company. Built to Win encapsulates the spirit of Neora, a company that refused to back down in the face of adversity and fought tirelessly to protect the livelihoods of its distributors. With renewed determination and a united team, Neora stands poised to thrive in the wake of their landmark victory, proving that they are truly built to win.
