Welcome back to the Built to Win podcast, where we delve into Neora’s remarkable journey. This company emerged victorious from an arduous battle with the Federal Trade Commission (FTC). In this episode, we sit down with Neora’s co-CEO, Debra Highe, and find Jeff Ols to explore the significance of their landmark win and the lessons learned.
Debra Highes, beaming with pride, declares, “We won!” After a grueling two-week court battle, Neora emerged victorious, with the FTC declining to appeal the ruling. This resounding triumph vindicated the company’s practices and sent shockwaves throughout the industry, solidifying Neora’s position as a standard-bearer for legitimate and ethical business practices.
For Jeff Olson, the founder of Neora, the moment the ruling was announced was emotional and validating. “To be so vindicated was a blessing and a great feeling,” he reflects, “but it was a very emotional time for all of us.” The judge’s meticulous 11-month deliberation and the detailed ruling in Neora’s favor were a testament to the strength of their case and the company’s commitment to operating within the confines of the law.
Highes and Olson emphasize that this victory was not merely a stroke of luck but the result of a carefully crafted business model and an unwavering dedication to doing things the right way. From the outset, Neora was built on providing value to its customers, focusing on quality products and an inclusive community.
“We baked in sellers into our business,” Olson explains. “We take people to sell our products on trips with us. We’re going to Puerto Arthur soon with hundreds of people. Some of those people just sell our products. So we made them part of our community.”
This customer-centric approach, a robust compliance department, and a commitment to transparent communication formed the foundation of Neora’s success. The judge’s ruling highlighted the company’s diligence in empowering its compliance team and ensuring its distributors were well-informed and adhered to the rules.
Highes and Olson believe this ruling has profound implications for the direct selling industry and beyond. “It’s the case law by which this industry to operate legitimately needs to look like,” Olson asserts. “It’s immaculate that something we set out 12 years ago was due, turned out to be exactly the model that a judge would rule in favor of that was so in alignment where the market forces are going.”
The Neora case has been recognized as one of the most significant legal matters 2023, with the company’s legal team being honored as the Texas Litigators of the Week. This victory extends far beyond Neora, serving as a blueprint for companies across various industries that rely on independent contractors or direct sales models.
As Highes and Olson look to the future, they are not seeking to make drastic changes but rather to continue refining and improving upon the foundation that has served them well. “We’re just leaning more into who we are and just trying to become a better version of what we built and be in alignment with the market forces as they dictate to us what we should do,” Olson explains.
The Neora story is a testament to the power of unwavering principles, a customer-centric approach, and a steadfast commitment to doing the right thing. As the company prepares to share more insights from its leadership team, the Built to Win podcast audience can look forward to an inspiring journey that showcases the true meaning of being “Built to Win.”
